MultiPass Secures License to Operate in UAE

Recent development that has eyed MultiPass in moving closer to the Middle Eastern market is that has been granted an operational financial services license in UAE. This regulated strategic step enables Dubai-based MultiPass to extend the delivery of its unique financial products and services to the international trade companies.

What This Means for MultiPass

According to the new license, MultiPass will be able to offer its clients access to local currencies in UAE and efficient payouts. This expansion does extend the service portfolio of MultiPass while at the same time positioning it to take advantage of the buoyant economy of the UAE that includes but is not limited to the sectors of finance, trade, tourism as well as real estate.

The Strategic Importance of the UAE

The UAE’s stable legal system and its fast pace of development help it become an excellent place to deliver financial services. MultiPass was founded by Rami Chedid, and currently he is CEO of the MultiPass for UAE and Middle East, and the overall vision of the company is to participate in the growing economy in the region besides keeping on offering best services to middle East and the global residents. It will also provide MultiPass the opportunity to build stably its position within the UAE’s market and to continue realizing its goals of enabling cross-border payments all across the world.

Benefits for Clients

MultiPass clients can now obtain multiple currency International Bank Account Numbers, use attractive MultPass exchange rates, and carry out affordable transactions. This development is particularly beneficial to businesses with international operations as it make their financial management easier and opportunity to cut costs on the conversion of one currency to another as well as the costs of making international payments.

With Abu Dhabi presently preparing to take MultiPass into the nation this year, it is anticipated that MultiPass will build on the region’s economic advantages to drive growth and innovation. The enhancement of its financial solutions tracks with the government’s plan of developing the UAE as an international financial center and provides MultiPass and its clients with the right environment for future development.