Uzbek Fintech Giant Oson Secures Banking License in Dubai

The Uzbek fintech holding company Oson has officially obtained a license to establish a neobank in the United Arab Emirates. On March 23, the Dubai Financial Services Authority (DFSA) granted Oson DIFC Limited, registered in the Dubai International Financial Centre, the status of an Authorised Firm. This permits the company to offer regulated financial and payment services within the country.

The license empowers Oson to open payment accounts, manage client funds, and serve both retail and corporate customers. The company described this achievement as the completion of a "crucial stage of international expansion," forming the foundation for launching a full-fledged international neobank and introducing new financial products to the market.

Over five months following preliminary approval from the DFSA in October 2025, Oson implemented international compliance and anti-money laundering (AML) systems and secured partnership agreements with local banks.

Founder and CEO Farhod Mahmudov emphasized that the DFSA license establishes a base for global growth. He noted that by entering the Middle Eastern market, Oson already possesses a user base of 3 million people and significant experience in developing fintech products. In 2026, the company plans to launch new offerings, including an updated Oson wallet and new cash-out terminals.

The DFSA's decision grants Oson access to the DIFC ecosystem and allows it to establish an international operational hub there. This center will serve as a strategic gateway for entering markets across the Middle East and North Africa region.

The preliminary approval from DFSA was viewed by Oson as an initial step toward obtaining a Category 3C license for handling multi-currency wallets, cross-border payments, and B2B fintech infrastructure.