18
Articles
3
Chapters
CBUAE
Issuing authority
AI
Cited answers from article text
Central Bank of the UAE is one of the rulebooks issued by the Central Bank of the UAE. For compliance officers, legal teams, and advisors working under this regime, finding the right article quickly matters. Lexara indexes the full text of CBUAE Retail Payment Systems Regulation and makes it searchable two ways: full-text and keyword search for rapid lookup, and AI Explorer for natural-language questions answered with citations to the exact article.
18 articles in 3 chapters, each with a plain-English summary by Arakan. The full text of every article is in the Laws Browser.
Article 2.1-2.2Article 2: Licensing Requirements
Operating a Retail Payment System in the UAE requires a prior Central Bank licence, with the system operator and/or scheme institution applying and submitting the documents listed in Annex A.
Article 8(1) 4.1Article 8: Ongoing Requirements of Designated RPS
Newly designated retail payment systems' system operators or system integrators must notify the Central Bank in writing of designation particulars within 14 working days, and report later changes within 14 days.
Article 8(1) 4.2, 4.3-4.7Article 8: Ongoing Requirements of Designated RPS
Designated RPS must ensure safe operation, maintain compliance arrangements, and submit required documents to the Central Bank on demand.
Article 8(5) 5.1-5.6Article 8: Ongoing Requirements of Designated RPS
A system operator or scheme interoperability operator of a designated retail payment system must notify the Central Bank as soon as practicable of access disruptions, material outsourcing, legal proceedings, financial inability, disciplinary action, or senior management changes.
Article 8(6)-(7)Article 8: Ongoing Requirements of Designated RPS
Designated retail payment system operators and/or settlement institutions must maintain documented organizational structures with segregation of duties and internal controls, plus enforceable contractual relationships with participants.
Article 8(8)Article 8: Ongoing Requirements of Designated RPS
Designated retail payment system operators must self-assess or independently assess compliance with the Regulation and PFMI principles at least every 24 months, sending the report to the Central Bank.
Article 8(9)-(15)Article 8: Ongoing Requirements of Designated RPS
Designated retail payment system operators must keep financial condition sound and monitored by senior management, maintain transparent participant eligibility criteria, documented fees, and notify participants of material operational changes.
Article 8(16)-(19)Article 8: Ongoing Requirements of Designated RPS
Designated RPS operators must keep Operating Rules complete, current and readily available, clearly disclose participant rights and obligations, ensure final settlement by the intended date, and set out liability for unauthorized-use losses and dispute handling.
Article 8(21)-(27)Article 8: Ongoing Requirements of Designated RPS
Designated retail payment system operators must maintain sound risk management and controls, assess risks of new payment services, train personnel, provide fraud awareness, test contingency plans, perform outsourcing due diligence, and ensure adequate system capacity.
Article 8(28)-(31)Article 8: Ongoing Requirements of Designated RPS
Designated retail payment systems must have efficient clearing arrangements, review security policies, and conduct post-incident assessments.
Article 8(32)-(37)Article 8: Ongoing Requirements of Designated RPS
Designated retail payment system operators must adopt commercially reasonable technical security measures, an information-security policy, and conduct periodic security reviews of their systems.
Article 8(38)-(39)Article 8: Ongoing Requirements of Designated RPS
The SO/SI must secure all payment data and records, protect their confidentiality to accepted standards, and maintain transaction-data recovery procedures for system failures.
Article 8(40)Article 8: Ongoing Requirements of Designated RPS
A Systemically Important Payment System operator must report to the Central Bank any incident, such as a data security breach, that may materially and adversely affect its operation or other systemically important payment systems.
Article 9(5)-(23)Article 9: Compliance with Principles of Financial Market Infrastructures Requirements
A designated retail payment system must observe the sixteen PFMI principles on an ongoing basis, and the Central Bank may impose higher requirements.
Article 12.1-12.2Article 12: Transition Period
Existing retail payment system operators may keep operating during a one-year transition period but must obtain a Central Bank Licence before that period expires.
Article 8(8)-retRecord Retention — Periodic compliance self-assessment / independent assessment reports (PFMI and R
Compliance self-assessment and independent assessment reports covering PFMI and regulation compliance must be retained at least until superseded by the next 24-month assessment.
Article 8(38)-(39)-retRecord Retention — Payment data and records, including customer and transaction information; transa
Entities under the retail payment systems regulation must keep payment data and records, including customer and transaction information and transaction-data recovery records; the retention period is not specified in the source.
Annex A-retRecord Retention — Licence application file (entity details
Entities must retain a copy of the Operating Rules, with retention triggered by financial statements, alongside the licence application file containing entity details.
CBUAE Retail Payment Systems Regulation's 33 indexed articles break down by obligation type as follows.
Compliance — 20 articles
Risk — 6 articles
IT Security — 4 articles
General — 3 articles
CBUAE Retail Payment Systems Regulation spans the following regulatory topics, as tagged by Lexara.
cbuae
retail payment systems
payments
Instead of reading through CBUAE Retail Payment Systems Regulation article by article, Lexara's AI Explorer lets you ask a question in plain English and get a cited answer — with the specific article referenced.
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What is Central Bank of the UAE?
Central Bank of the UAE is issued by the Central Bank of the UAE. It has 18 articles across 3 chapters.
What does CBUAE Retail Payment Systems Regulation cover?
It is organised into: CBUAE Retail Payment Systems Regulation; Article 8 - Ongoing Requirements of Designated RPS; participation criteria.
Who issues CBUAE Retail Payment Systems Regulation?
The Central Bank of the UAE. Always check the authority's official publication for the binding text.
Can I search CBUAE Retail Payment Systems Regulation and ask questions about it?
Yes. Lexara searches the full text of all 18 articles and answers plain-English questions with a citation to the exact article.
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