Dubai Regulator Launches Special Testing Licensing for Fintech Startups

[kreslik.news]

The Dubai Financial Services Authority (DFSA) today released the details of its Innovation Testing Licence (ITL) which allows fintech firms to go through a special testing stage prior to their approval as fully operational firms.

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The aim of the initiative is to reduce the barriers for innovative startups to enter the financial market by making it easier for a fintech firm to validate and refine concepts before the expensive licensing process.

According to the proposal, each qualifying firm that applies to establish itself in Dubai will initially work under a ... (read more)