Regulatory Alerts2021-02-10
Large Value Payment Systems Regulation
The Central Bank of the United Arab Emirates issued this regulation to ensure the safety and efficiency of Large-value Payment Systems operating within the State. It establishes mandatory licensing requirements for system operators and settlement institutions while defining the criteria and process for designating systems as systemically important. Furthermore, the regulation mandates ongoing compliance with international financial market infrastructure principles and outlines enforcement mechanisms, sanctions, and appeal procedures for designated systems.
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