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United Arab Emirates - New Regulations for Stored Value Facilities

Latham & Watkins LLP

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United Arab Emirates November 30 2020

The new Stored Value Facilities (SVF) Regulation repeals and replaces the 2017 SVEPS Regulation governing digital payments business in the UAE, and streamlines the applicable regulatory framework.

This article is made available by Latham & Watkins for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. Your receipt of this communication alone creates no attorney client relationship between you and Latham & Watkins. Any content of this article should not be used as a substitute for competent legal advice from a licensed professional attorney in your jurisdiction.

Latham & Watkins LLP - Brian A. Meenagh, Sam Maxson and Stuart Davis
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Related topic hubs

  1. United Arab Emirates
  2. IT & Data Protection
  3. Banking

Related United Arab Emirates articles

  1. The new stored value facilities regulation - A new era in the Fintech space *
  2. Digital payment services in the UAE: A new e-Payment Regulation *
  3. The UAE's New e-Payment Regulation *

Related international articles

  1. The clock is now ticking on Hong Kong's new stored value facility regime: do you need a licence? * - Hong Kong
  2. Hong Kong's fintech surge: HKMA grants second round of stored value facilities licences * - Hong Kong
  3. Hong Kong strides towards a cashless society * - Hong Kong
Chris Heaphy
General Counsel
The Taubman Company
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