United Arab Emirates: Regulatory Framewoork For Stored Values and Electronic Payment Systems
Progress
Current status
adopted
01 Jan 2017 adopted
Scope
Implementers
United Arab Emirates
Policy Area
Authorisation, registration and licensing
Policy Instrument
Operational license requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
central bank
Implementation Level
national
Timeline of events
Adopted Regulatory Framewoork For Stored Values and Electronic Payment Systems
On 1 January 2017, the UAE Central Bank issued the "Regulatory Framewoork For Stored Values and Electronic Payment Systems". The framework regulates digital payment systems and introduces a licensing requirement with the Central Bank.
SourceEvent type
order
Action type
adoption
Government branch
executive
Government body
central bank