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Article (5): License Categories

2/2024 Effective from 21/8/2024
1.

A Person that intends to provide Payment Token Services shall as appropriate apply for one or more of the following categories of License:

a)Dirham Payment Token Issuer;
b)Payment Token Custodian and Transferor; and
c)Payment Token Conversion.
2.A Person not incorporated and located in the UAE may apply for a Foreign Payment Token Issuer Registration. For the avoidance of doubt, this includes a Person located in a Financial Free Zone.