On September 29, 2023, the UAE Central Bank (CBUAE) introduced the new Finance Companies Regulation, which repealed the Finance Companies Regulation issued in 2018 and formally recognized “buy-now, pay-later” (BNPL) schemes as a form of consumer Short-Term Credit. This landmark development signifies the CBUAE’s proactive approach towards regulating the BNPL sector in the UAE, seeking to…