UAE

Status

No steps taken to implement legislation.

Is the country considering regulation?

BNPL is potentially captured under existing legislation for “carrying out retail finance” in or from the UAE Federal jurisdiction.

Current state of regulation regarding BNPL?

The UAE Central Bank has not published any official guidance on whether BNPL is a form of retail finance. 

Outline the proposals to change regulation?

There are no current proposals to change the regulation in the UAE Federal jurisdiction.

What if any will be the consequences of BNPL legislation on merchants, brokers and consumers.

The existing legislative framework for carrying out retail finance may apply to BNPL providers.