United Arab Emirates: Implemented Retail Payment Services and Card Schemes Regulation introducing licensing requirement
Description
Implemented Retail Payment Services and Card Schemes Regulation introducing licensing requirement
The one-year grace period of the Retail Payment Services and Card Schemes Regulation of the Central Bank of the Untied Arab Emirates ('CBUAE') ends on 15th July 2022. The Regulation is aiming to ensure safety and reliability for consumers regarding …
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