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.

The Supplemental Licensing Fee is expected to decrease progressively over the first five years. In Year 1, the fee will be set between 140% to 150% of the mean fee, decreasing to a range of 50% to 70% below the mean by Year 5. These changes will exist to mirror the success of the Open Finance eco-system. The payment schedule is as follows: Year 1 fees are due on January 1st, 2025, and Year 2 fees are due on April 5th, 2025.

The year to year progress is summarized in the graph below:

1.2 Tiered Structure

The Supplemental Licensing Fee is designed with a tiered structure, reflecting the varying capacities and responsibilities of different financial institutions. Below is a detailed breakdown of the average expected fees over five years for each tier:

1.3 Payment Details

Payments should be made to the Central Bank using the following banking details:

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.

2.2 Other Fees by Use Case

The LFI to TPP fees detailed below are to be paid by TPPs to Nebras and then paid by Nebras to LFIs.