| المحتويات | |||
|---|---|---|---|
| CONTENTS | |||
| Subject | الصفحة Page | الموضوع | |
| Introduction | 3 | مقدمة | |
| Objectives and scope | 4 | الأهداف ونطاق التطبيق | |
CENTRAL BANK OF THE U.A.E.
| Circular No. : | 9/2020 | تعميم رقم : | 2020/9 |
| Date : | 10/01/2021 | التاريخ : | 2021/01/10 |
| # Introduction Robust Financial Infrastructure Systems are essential to monetary and financial stability, the smooth and efficient operation of the financial system, and the effectiveness of international financial centers. Against this backdrop, the policy objective of the Central Bank is to promote and ensure the safety and efficiency of Financial Infrastructure Systems in the UAE. For the purpose of this Regulation, the regulatory focus is on Large-value Payment Systems (LVPS) which are Financial Infrastructure Systems that support the financial and wholesale activities in the State. The Regulation covers the licensing requirements in relation to LVPS as well as the obligations and ongoing requirements in relation to a designated LVPS. The Central Bank Law expressly sets out the powers of the Central Bank in relation to the licensing, designat... |