Dubai: The Dubai Financial Services Authority (DFSA) said on Wednesday
it is expanding of its Innovation Testing Licence (ITL) programme in response to continued interest in Fintech and the digital economy.
The ITL programme enables firms to test innovations in financial technology (Fintech) in or from the Dubai International Financial Centre (DIFC), the DFSA said in an emailed statement.
The DFSA will work with the applicants to navigate the onboarding process over the next few weeks.
“Should the firms be successful, they will begin a testing period lasting up to 12 months, at the end of which the firms 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 said.