Regulatory Alerts2021-01-01
Guidelines for Financial Institutions adopting Enabling Technologies
The Central Bank of the UAE, Securities and Commodities Authority, Dubai Financial Services Authority, and Financial Services Regulatory Authority jointly issued these guidelines to establish best practices for financial institutions adopting enabling technologies. The document mandates binding key principles for risk management, governance, and security across specific technologies including APIs, cloud computing, biometrics, big data analytics, AI, and distributed ledger technology. These requirements aim to ensure the safety and soundness of institutions, mitigate systemic risks, and foster transparency and financial stability within the UAE financial sector.
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