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  • Accounts and Products in Scope of Open Finance

    • Article (5) Accounts and Products

      1. An Account or a Product is within the scope of this Regulation where it relates to any of the following offered or issued by a Licensee:

        1.1deposits;
        1.2payment accounts and services;
        1.3savings accounts and term deposits;
        1.4credit, debit and charge card accounts and products (including acquiring and processing card transactions);
        1.5standing orders;
        1.6direct debits;
        1.7stored value facilities and prepaid payment accounts;
        1.8post-paid payment accounts;
        1.9foreign exchange accounts and products;
        1.10credit, loans and any other personal finance accounts and products;
        1.11mortgages and other loans secured on property or other assets;
        1.12virtual accounts or products providing for the items specified in 1.1 – 1.11 above; and
        1.13insurance products, including life and general insurance.
      2. The Central Bank may, from time to time, amend or supplement the list in Article 5(1) of this Regulation.
      3. The list in Article 5(1) of this Regulation shall not include accounts or products regulated by the Securities and Commodities Authority, unless approved by the Securities and Commodities Authority.