The Treasury FINMO World Business Operating System has received approval from the Dubai Financial Services Authority (DFSA) for financial services permit.
This at -authority approval represents a significant step towards Finmo’s plans to expand the Ministry of Finance and payments platform in the Middle East. With the prejudice of full license, Finmo intends to provide services, including the operation of payment bills, issuance of payment and consulting and regulating money services, such as account information and payments.
David Hanna, Managing Director of Finmo, said:
“Downloading approval from DFSA is an important milestone on our trip to bring Finmo to the Middle East.
Dubai and the wider UAE represent basic growing markets for Finmo, supported by high digital adoption, a well -connected economic ecosystem and a progressive regulatory environment.
With the media and middle market businesses that lead to much of this growth, Finmo is equipping the modern Treasury solutions to simplify complexity and expand cross -border opportunities. In collaboration with DFSA, Finmo is in line with regional standards, while building economic infrastructure to support global businesses operating from Dubai’s financial hub.
Anthony Yeoh, head of Compliance in Finmo, added:
“This at -authority approval reflects the powerful DFSA regulatory framework and our common focus on building durable and transparent financial services. Finmo is proud to note this important milestone in our journey to full licensing. Business and look forward to our confidence to continue our close cooperation with DFSA in front of full licensing.
Finmo already has regulatory approvals in basic jurisdictions, such as Singapore, Australia, New Zealand, Canada, the United States and the United Kingdom.