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This milestone marks a significant step in the strategic expansion into the Middle East and will allow our clients to access local currency and payout. 

Dubai, UAE – MultiPass, a global payment solution that provides modern financial products for businesses trading globally, has obtained a financial services licence in the UAE, regulated by the Dubai Financial Services Authority (DFSA). This milestone marks a significant step in the strategic expansion into the Middle East and will allow our clients to access local currency and payout. 

For clients, the UAE serves as a strategic gateway to the Middle East, providing path to a broader market and new business opportunities. Obtaining the licence has allowed access to the dirham (UAE currency) and local payout option, which is executed within seconds, and enables seamless transactions, while multi-currency IBANs facilitate payment solutions across the world and market-beating foreign exchange rates ensure cost optimization. Clients are prioritized by providing personalized service with dedicated relationship manager assigned to businesses. 

Rami Chedid, Chief Executive Officer of MultiPass for the UAE and the Middle East, comments: “Middle East is a region that offers a great potential for growth and innovation. This expansion is in line with our vision to provide exceptional financial services and create value for our clients – international businesses with frequent cross-border payment flows. We look forward to contributing to the dynamic economic landscape of the UAE and the Middle East.” 

With high economic strength and diversity in sectors like finance, trade, tourism and real estate, stable regulatory environment and rapid innovation at the forefront, the UAE is a strategic location in the Middle East. This achievement demonstrates the commitment of MultiPass in improving the services offered to the clients and strengthening presence in global markets. 

About MultiPass:                                                                             

MultiPass, a part of Dyninno Group, is a bank challenger that provides modern financial solutions for businesses with cross-border activity. It offers a multi-currency business account with a live FX desk that allows international companies to manage their bank transfers in foreign markets in a simple way. MultiPass’s customer offering includes local dedicated UK, US, and EU accounts, as well as a single multi-currency IBAN supporting over 30 world currencies. The company was founded in 2015 and is led by Dmitry Tsymber. 

For more information:
Krista Bulderberga-Zemniece
Head of Communications
t. +371 26618720
e. k.zemniece@eco-fin.eu