The UAE Central Bank 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 UAE in a secure manner". Governor of - business@khaleejtimes.com the Central Bank Dr Abdullah Al Shamsi said that "the regulation will help promote innovation and growth by providing certainty for businesses operating within this sector."
The UAE Central Bank 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 UAE in a secure manner". Governor of the Central Bank Dr Abdullah Al Shamsi said that "the regulation will help promote innovation and growth by providing certainty for businesses operating within this sector."