UAE has issued regulations covering digital payments, following a lengthy consultation period. The regulations are also designed to foster financial inclusion in the UAE. four licence categories were available: retail, micropayment, non-issuing and government, with each sector subject to a "particular set of regulatory requirements" designed to "facilitate robust adoption of digital payments across the Central in a secure manner". Governor of the UAE Bank Mubarak Al Mansoori said the country wanted to position itself as a "global leader in trusted digital payments services".
UAE has issued regulations covering digital payments, following a lengthy consultation period. four licence categories were available: retail, micropayment, non-issuing and government, with each sector subject to a "particular set of regulatory requirements" designed to "facilitate robust adoption of digital payments across the Central in a secure manner". Governor of the UAE Bank Mubarak Al Mansoori said the country wanted to position itself as a "global leader in trusted digital payments services".