Regional Regulatory Intelligence Hub.

The Digital Dirham is the UAE's CBDC, operating as a two-tier model: CBUAE issues the Digital Dirham and licensed banks distribute it to customers via CBUAE-approved wallets. As of July 2026, the Digital Dirham is in advanced pilot stage with pilot transactions executed and gradual controlled expansion planned through 2026. Full commercial launch is targeted for late 2026. Banks participate as distributors, not as issuers. Preparing integration infrastructure for Digital Dirham distribution rails is the relevant strategic action for licensed UAE banks.

Saudi Arabia's Open Banking framework was issued by SAMA in November 2022, updated in September 2024, and moved to a formal licensing regime on 26 March 2026 following the closure of its regulatory sandbox phase. It establishes the standardised API framework for account information and payment initiation services - the same direction as the UAE's Open Finance framework, on its own timeline. The first fintechs were licensed to provide account information services shortly after the regime opened.

On 8 March 2026, SAMA issued Circular No. 472047719, introducing a revised Oversight Framework for Payment Systems and Their Operators, replacing the previous framework issued in 2021. It covers both systemically important payment systems (SIPS) and non-systemically important systems, introducing structured supervisory methodology - ongoing monitoring, self-assessment, and formal oversight evaluation. SIPS operators must now publish a summary of their self-assessment results in line with the CPMI-IOSCO disclosure framework, a transparency requirement the previous framework did not include.

The Central Bank of Jordan issued instructions in December 2025 governing Open Finance services, including account information and payment initiation, for banks and licensed payment and money-transfer companies operating in Jordan.

FDL 6/2025 is the UAE's expanded central banking framework, effective 16 September 2025. It broadens the regulatory perimeter significantly beyond traditional banking to include DeFi protocols, tokenised real-world assets, stablecoin issuers, and enabling technology providers. The law introduces AED 1 billion in potential penalty exposure for non-compliance. FDL 6/2025 and PTSR are two separate and distinct regulatory frameworks with two separate deadlines. Full compliance with FDL 6/2025 is required by 16 September 2026. Banks whose technology partners or embedded finance programmes may fall within the expanded perimeter should assess exposure as a priority.

PTSR governs third-party payment tokens and stablecoins in the UAE. It creates two instrument categories: Dirham Payment Tokens (AED-denominated, full CBUAE licence required) and Foreign Payment Tokens (non-AED, CBUAE registration required). The transitional period, which allowed existing operators to continue while seeking approval, ended on 14 June 2025. PTSR is now fully in force with no further grace period. Banks seeking to issue tokenised deposits as Dirham Payment Tokens, or to integrate approved Foreign Payment Tokens into their products, must do so within the PTSR framework.

CBUAE's Open Finance framework creates a structured, regulated environment for API-based access to financial data and payment initiation. Licensed banks are required to implement standardised APIs enabling third parties to access customer data and initiate payments with customer consent. The framework is directly relevant to above-core platform deployments that provide the API infrastructure required for Open Finance participation. Banks with legacy cores that lack API-first architecture face compliance challenges under this framework.

The Central Bank of Nigeria issued Africa's first Open Banking Regulatory Framework in February 2021, followed by Operational Guidelines in March 2023. It establishes API-based data-sharing principles across Nigeria's banking and payment ecosystem, with a phased rollout of customer-authorised data sharing continuing through 2026 under NIBSS as the designated Open Banking Registry.

CliQ is Jordan's national instant payment system, operated by JoPACC and supervised by the CBJ. Built on ISO 20022 messaging, it enables 24/7 bank-to-bank and wallet-to-wallet transfers across the Jordanian market.

SAMA's implementing regulations under the Law of Payments and Payment Services cover licensing for payment service providers, e-money issuance, and payment systems operating in the Kingdom - the foundational licensing layer beneath Saudi Arabia's Open Banking framework.