Thursday 25 April 2024
Thursday 25 April 2024
The CBUAE enhances SupTech initiative as part of its Financial Infrastructure Transformation Programme
Press Release
Tuesday 23 April 2024
Tuesday 23 April 2024
Al Etihad Payments launches Open Finance to strengthen the financial services sector in the UAE
Press Release
Monday 22 April 2024
Monday 22 April 2024
The Central Bank: banks & finance companies may defer personal and car loans installments for six months to overcome the repercussions of the weather condition
Press Release
Payment System Supervision
Payment systems are a vital part of the financial sector. Alongside establishing, developing and operating payment systems,
the Central Bank of the UAE encourages increased participation by FinTech companies by licensing non-CBUAE payment systems meeting the established requirements, and supervising their compliance, risk controls and service delivery.
Exchange Houses
The Central Bank of the UAE regulates Exchange Houses through the provisions of ‘The Standards for the Regulations Regarding Licensing and Monitoring of Exchange Business (the Standards)’.
These standards set the baseline requirements for all Exchange Houses currently operating in the UAE, which must be maintained to continue their business in a fully compliant manner.
Payment System Supervision Methodology
The process of identification and mitigation of any vulnerabilities that could potentially increase payment system risk or general systemic risk is outlined below.
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Last updated on: Friday 05 August 2022
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