Dubai – Mubasher: The Dubai Financial Services Authority (DFSA) is looking to expand its Innovation Testing Licence (ITL) programme in an effort to bolster financial technology (FinTech) and the digital economy.
The ITL programme enables companies and businesspeople to test innovative FinTech in or from the Dubai International Financial Centre (DIFC), the financial regulatory agency said in a statement.
The DFSA will work with the applicants over the next weeks to navigate the on-boarding process and the successful firms will begin a 12-month testing period.
By the end of this period, the companies “must demonstrate that they have met the agreed targets of the test plan, and can meet the full DFSA authorisation requirements, to obtain a full licence,” the DFSA added.
