Regulatory Alerts2024-04-15
Sandbox Conditions Regulation
The Central Bank of the United Arab Emirates issues the Sandbox Conditions Regulation to establish a regulatory framework allowing eligible entities to test innovative financial products and services without a full license. The document defines eligibility criteria, application procedures, and mandatory safeguards to ensure consumer protection and regulatory compliance during the testing period. It further outlines exit routes, supervision mechanisms, and enforcement powers to manage participant activities and assess their transition to licensed operations.
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