United Arab Emirates: Entry into force with grace period of Retail Payment Services and Card Schemes Regulation introducing licensing requirement
Description
Entry into force with grace period of Retail Payment Services and Card Schemes Regulation introducing licensing requirement
The Retail Payment Services and Card Schemes Regulation came into force on 15th July 2021, with a one-year grace period.. The Regulation is aiming to ensure safety and reliability for consumers regarding retail payments services and the operation of…
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
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2021-06-15
adopted
2021-07-15
in grace period