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Third: Categories of Applicants

IA-BOD-RES 41/2019 Effective from 15/9/2019
  1. Innovative Solutions Owners, licensed and registered by the Authority, who wish to test technical solutions covered by their current license.
     
  2. Innovative Solutions Owners licensed and registered by the Authority, who wish to test technical solutions not covered by their current license.
     
  3. FinTech Companies registered in the Free Zones and the Financial Free Zones inside the State, which develop new FinTech solutions to be used in the State. These companies may enter the experimental environment, according to the following conditions:
     
    • Establishing a partnership with an entity licensed and registered by the Authority, which shall be fully accountable to the Authority.
       
    • Obtaining an acceptance letter from the Authority to join the experimental environment.
       
    • Submitting the approval of the free zone or the financial free zone in the State to apply for joining the experimental environment of FinTech at the Authority.
       
  4. National FinTech companies and branches of foreign companies registered inside the state, which develop new FinTech solutions to be used in the State. These companies may enter the experimental environment, according to the following two conditions:
     
    • Establishing a partnership with an entity licensed and registered by the Authority, which shall be fully accountable to the Authority.
       
    • Obtaining an acceptance letter from the Authority to join the experimental environment.
       
  5. Foreign FinTech Companies, registered in their home country, which develop new FinTech solutions to be used in the State. These companies may enter the experimental environment, according to the following conditions:
     
    • Establishing a partnership with an entity licensed and registered by the Authority, which shall be fully accountable to the Authority.
       
    • Obtaining an acceptance letter from the Authority to join the experimental environment.
       
    • Submitting the approval of the regulatory authority in the home country to apply for joining the experimental environment of FinTech at the Authority.