United Arab Emirates: Adopted Retail Payment Services and Card Schemes Regulation introducing licensing requirement
Description
Adopted Retail Payment Services and Card Schemes Regulation introducing licensing requirement
The Retail Payment Services and Card Schemes Regulation is adopted by the Central Bank of the United Arab Emirates ('CBUAE') on 15th June 2021. The Regulation is aiming to ensure safety and reliability for consumers regarding retail payments service…
Scope
Policy Area
Authorisation, registration and licensing
Policy Instrument
Operational license requirement
Regulated Economic Activity
other service provider
Implementation Level
national
Government Branch
executive
Government Body
central bank
Complete timeline of this policy change
Hide details
2021-06-15
adopted
2021-07-15
in grace period