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Version | 1.1 |
|---|---|
Publication Date |
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Classification | Public |
| Note |
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This Schedule of Fees is provisional and subject to change. |
1. Supplemental Licensing Fees (for LFIs)
1.1 Introduction
The Central Bank of the UAE (CBUAE) has introduced a Supplemental Licensing Fee for all Licensed Financial Institutions (LFIs) participating in the Open Finance initiative. The fee structure is tiered based on the size and type of institution, with the exact amounts to be communicated individually to each participating entity.
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It is crucial that all payments are made by the specified deadlines to ensure continued access to the Open Finance platform and to avoid any penalties or disruption in services.
2. API Hub Variable Fees (for TPPs)
2.1 API Hub Usage Fees
These fees are to be paid by TPPs to Nebras.
Fee Category | Schedule of Fees | ||
|---|---|---|---|
Per API Call Fees | Set a uniform API call fee of 2.5 fils across all usage | Gather fees from TPPs based on their API consumption Reconcile fee shortfalls or excess according to total annual revenue target at the year’s end in line with fixed contributions:
Consider waiving API call fees for LFIs in first two years | |
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2.2 Other Fees by Use Case
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Schedule of Fees
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One off Payments and Standing Mandate Payments
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LFI to TPP fees
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The
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Cap LFI to TPP charges for high-value transactions at AED 50 for transactions above AED 20K to align with other UAE payment rails like Jaywan and international
best practices.
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LFI
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Introduce Me-2-Me sweeping for 20 fils, reducing to 18 and then 17 fils in the subsequent years
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to
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TPP
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Suggest (issue guidelines) TPPs to keep prices below 63 bps to 50 bps at year 5 (merchant collection)
Suggest (issue guidelines) TPPs to keep prices below AED 10 for selected payments (e.g., rent), above 5,000 value
Suggest (issue guidelines) TPPs to keep prices below 50 fils for peer-to-peer payment
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Corporate (Treasury) Payments
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LFI to TPP fees
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Cap LFIs to TPPs payment call fees at 250 fils
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TPP to End User fees
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Cap TPPs to customer payment call fees at 450 fils
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PFM and BFM
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LFI to TPP fees
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Free until 15 attended calls and up to 5 unattended API calls per customer per day
Allow LFIs to charge the market determined price to TPPs in case of consumption over the thresholds
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TPP to End User fees
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Free until 15 attended calls and up to 5 unattended API calls per customer per day
Market Determined Price above thresholds
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Life Assurance Quotes and Non-Life Assurance Quotes
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LFI to TPP fees
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Non-chargeable
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TPP to End User fees
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Market Determined Price
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Customer Details and Banking Metadata Details
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LFI to TPP fees
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Non-chargeable
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TPP to End User fees
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Non-chargeable
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Corporate (Treasury) Functionality
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LFI to TPP fees
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Cap LFI to TPPs data call fees at 40 fils/100 lines
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TPP to End User fees
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fees detailed below are to be paid by TPPs to Nebras and then paid by Nebras to LFIs.