UAE Central Bank is discussing initiatives to enable instant payments

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UAE is currently well underway with initiatives to implement a financial market infrastructure that will enable instant payments in the country, according to the Central Bank of the UAE.

The move is part of the country’s efforts to “support the transformation of the payment landscape in the UAE,” according to the regulator. Officials from the UAE discussed the significance of the consumer protection framework. This included complaint management and a discussion of the planned establishment of a Sanadak Ombudsman unit. Sanadak will be a Middle Eastern consumer complaint resolution mechanism that allows for easy access and quick resolution of consumer complaints.

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UAE Central Bank is discussing initiatives to enable instant payments

UAE is currently well underway with initiatives to implement a financial market infrastructure that will enable instant payments in the country, according to the Central Bank of the UAE.

The move is part of the country’s efforts to “support the transformation of the payment landscape in the UAE,” according to the regulator. Officials from the UAE discussed the significance of the consumer protection framework. This included complaint management and a discussion of the planned establishment of a Sanadak Ombudsman unit. Sanadak will be a Middle Eastern consumer complaint resolution mechanism that allows for easy access and quick resolution of consumer complaints.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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