In a press release issued yesterday on the 3rd of November 2020, the UAE Central Bank announced issuing of a new updated regulation on Stored Value Facilities (SVF). 2.3 You may download or print information and material from this Website for personal use, use within an organization or non-commercial use. are channels that help users to store money digitally and make digital payments or transactions. On 24 April 2018, the Central Bank of the UAE (‘the Central Bank’) announced the Dormant Accounts Regulation pursuant to Circular No. But, they too shall be expected to comply with the new requirements and implement relevant measures by the end of the transition phase which is within a year. Hence, the business of moneychangers is big in the UAE. ... according to the Central Bank. The UAE’s Banking Regulators claim that the initiative will facilitate Fintech firms and Non-Bank Payment Service Providers’ easy access to the UAE market and also ensure the security of customer’s funds. H.E. @cb-uae.ae,cbuae-ae.com). Some banks say the new Central Bank rules on retail lending will force the most radical shake-up of the industry in years. This clearly shows the efforts taken by the UAE Central Bank in line with the digital currency regulation and SCA UAE’s Crypto Assets Regulation to enhance the Crypto Currency, Digital Assets, and BlockChain ecosystem in the country. The website title shall not collect personal information about you when accessing the website unless you choose specifically and willingly to provide such information to us. Moreover, the authorized staff may only access the personal identity information, where such staff pledged to maintain confidentiality of the information provided. CBUAE is well known for its apt regulations which have protected UAE Financial and Banking sector from shocks of financial meltdown. The New UAE Banking Law – what it means for you 15 January 2019. What: Registering rent contracts with the Dubai Land Department (DLD) through Ejari.ae. Moreover, the authorized staff may only access the personal identity information, where such staff pledged to maintain confidentiality of the information provided. If you want to notify us of incidents, provide tips relating to fraud, ethical violations, noncompliance with the applicable laws and regulations by CBUAE Employees, Contractors, and Representatives or have any questions about these matters you may choose to do so via email to Compliance@cbuae.gov.ae. ■ New rules cover retail banking services given to individual customers. Rent registration. Dubai: UAE authorities are tightening their grip on irresponsible lending and borrowing in the country, with the issuance of a new circular by the Central Bank. He further quoted that the new regulation is a significant milestone in the development of a robust Regulatory Framework of Stored Value Facilities and the Digital Payments Industry. We do not contact individuals through, Facebook, Twitter, and other social media. All our emails use our email address: @ cbuae.gov.ae and we do not use any other variations (for e.g. 4.1 To meet the user needs, links for other websites have been listed on this Website. Please notify us if the fraud involves a misuse of the CBUAE’s name or logo, or the name of any CBUAE employee, or a fake email address or emails purporting to be from the CBUAE. The CBUAE never sends emails from Gmail, Yahoo, Hotmail or other public email accounts such as live.com. 4.2 It shall be permitted to have direct link with all pages hosted on this Website. Nevertheless, uploading any pages within separate frameworks on another website is not permitted. E-mails or letters are sent proposing various schemes such as offering loans, investment opportunities or participation in financial transactions, and / or requiring an advance payment in connection with a transaction supposedly to be made through the CBUAE. 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