UAE - ADGM

Status

No steps taken to implement legislation.

Is the country considering regulation?

BNPL is potentially captured under existing legislation for “providing credit” in or from the ADGM.

Current state of regulation regarding BNPL?

The Financial Services Regulatory Authority has not published any official guidance on whether BNPL is a form of providing credit. 

Outline the proposals to change regulation?

There are no current proposals to change the regulation in the ADGM.   

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

The existing legislative framework for providing credit may apply to BNPL providers.