UAE’s homegrown fintech platform Mamo gets regulatory approval from DIFC

UAE’s homegrown fintech platform Mamo gets regulatory approval from DIFC

Mamo, a homegrown UAE-based FinTech and financial services platform for SMEs, has been granted regulatory approval to operate from Dubai International Financial Centre (DIFC), the leading global financial Center in the Middle East, Africa and South Asia (MEASA) region.

The license has been granted by the Dubai Financial Services Authority (DFSA), the independent regulator of financial services conducted in or from DIFC, to carry out the regulated activity of providing money services. The license allows Mamo to further expand its products and services without user restrictions and provide unmatched security while fully complying with DFSA rules.

In June 2021, Mamo acquired DFSA approval to operate under the Innovation Testing License (ITL) program, allowing it to test its business model in a controlled regulatory environment. The regulation provides frameworks requiring transparency, fairness, and efficiency, that all regulated firms must follow. It also aims to protect businesses, consumers and users of financial, and other services offered by regulated companies, such as Mamo.

Imad Gharazeddine

CEO & Co-Founder

Mamo “We’ve built a financial services platform that enables both SMEs and consumers to move money faster, more efficiently and more securely in the UAE. Today marks a crucial milestone for our business and a major inflection point in our