top of page

Twig Granted In-Principle Approval by the Dubai Financial Services Authority

Updated: Nov 29, 2022

TWIG Solutions Ltd (“TWIG”), the first Personal Finance Management application aimed at helping individuals in the Middle East automate their savings and manage their finances, has been granted In-Principle Approval by the Dubai Financial Services Authority (“DFSA”). This first-of-its-kind license allows TWIG to operate the first Automated Savings Platform from the Dubai International Financial Centre (“DIFC”).

Twig Granted In-Principle Approval by the Dubai Financial Services Authority

TWIG was among 20 start-ups participating in Batch A of the 2022 FinTech Hive Accelerator Programme, the region’s leading FinTech-focused accelerator programme organized by the DIFC.

The company is now preparing to launch its mobile application that allows users to funnel savings automatically towards the goals that matter most, all while developing a deeper understanding of their spending habits.

Chafic Idriss, Founder & CEO of TWIG, said: “Three out of five adults in the UAE don’t have any savings plans, and financial literacy in the region remains relatively low. TWIG aims to bridge this gap by strengthening its users’ financial knowledge and behaviours, empowering them to manage their finances by alleviating its complexities. Our platform offers a user-friendly, rewarding, and safe savings solution that encourages users to plan, track, and achieve their financial goals seamlessly.”

“The launch of our platform comes at an ideal time and will complement the UAE government’s conscious efforts to increase average household savings, as outlined in the UAE Ministry of Finance’s Saving Awareness Initiative and contribute to the UN’s Sustainable Development Goals”, added Idriss.

“The DIFC and DFSA have extended great support, entrusting us throughout this process. The In-Principle Approval is a testament to the credibility of our innovative business model. As a UAE-born, bred and raised start-up, we are excited to offer our proposition across the country”, says Rayan Antonios, Co-founder of TWIG.

TWIG aims to expand its operations across the MENA region, with similar regulation approvals currently in Saudi Arabia.

More Great Dubai Route Stories

Stay Ahead of the Curve

Unlock the GCC's Leading Source of Business and Analysis provides innovative marketing and advertising solutions to support an advertiser's specific campaign objectives. Customised programs leverage the best of Contact our sales team today and see what our team can do for your custom advertising solutions - Please include a contact number if you want to speak to our sales team.


Global Business, Financial News, Market Data, and Analysis published here are delayed 24 hours. All the published information, analyses, and conclusions are based (unless sourced otherwise) on exterior details and Dubai Route Group's experts' judgment. They are intended as guides only and should not be construed as definitive forecasts or guarantees of future performance or results. Any person, including Dubai Route Group or its affiliates and their respective officers, employees, or agents, accepts no responsibility or liability for any errors or omissions.


For all the latest lifestyle news from the UAE and Gulf countries, follow us on Twitter and LinkedIn, like us on Facebook and follow us on Instagram, which is updated daily.



bottom of page