Recognizing the evolving financial preferences worldwide, particularly the rising popularity of "Buy-Now, Pay-Later" and similar credit options, the Central Bank of The UAE (CBUAE) has introduced an updated Finance Companies Regulation.

According to the revised framework, entities can offer short-term credit services under the authorization of licensed Banks or Finance Companies, subject to approval by the CBUAE. Alternatively, these entities can engage in such activities by obtaining a license as Restricted License Finance Companies directly from the CBUAE.

Unlicensed entities currently involved in short-term credit services must seek approval from the CBUAE to operate as Restricted License Finance Companies or establish partnerships with licensed Finance Companies or Banks to continue their operations.