Oson Secures License to Launch Neobank in the UAE Market

Tashkent, Uzbekistan (UzDaily.com) — Uzbek fintech holding Oson has officially obtained a license to establish a neobank in the United Arab Emirates. On 23 March, the Dubai Financial Services Authority (DFSA) granted Oson DIFC Limited, registered in the Dubai International Financial Centre (DIFC), the status of an Authorised Firm, allowing it to provide regulated financial and payment services in the country.

The company is now authorized to open payment accounts, manage client funds, and serve both retail and corporate customers.

Oson described the license as the completion of a “key milestone in its international expansion” and a foundation for launching a full-scale global neobank, as well as introducing new financial products to the market.

Within five months of receiving preliminary DFSA approval in October 2025, the company implemented international compliance and anti-money laundering (AML) systems and established partnerships with local banks.

Founder and CEO Farhod Makhmudov noted that the DFSA license lays the groundwork for global expansion. According to him, by the time of entering the Middle East market, the company already has a user base of 3 million and significant experience in developing fintech products. In 2026, Oson plans to launch new products, including an upgraded Oson wallet and new cash-out terminals.

The DFSA decision also grants Oson access to the DIFC ecosystem and enables the establishment of an international operational hub to support expansion into the Middle East and North Africa.

The earlier preliminary approval from the DFSA was seen as the first step toward obtaining a Category 3C license, which would allow the company to operate multi-currency wallets, cross-border payments, and B2B fintech infrastructure.