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CBUAE Issues Guidance Note to Protect Consumers and Ensure Responsible Use of Artificial Intelligence in the Financial Sector
The Central Bank of the United Arab Emirates (CBUAE) has issued a guidance note on the consumer protection and responsible adoption and use of artificial intelligence and machine learning by licensed financial institutions operating in the UAE. This step reflects the CBUAE’s proactive supervisory approach and its commitment to keeping pace with rapid developments in digital transformation and smart financial services.
It aims to establish a clear framework to guide financial institutions in the safe and responsible deployment of these technologies, ensuring that consumer rights are safeguarded, governance and transparency principles are strengthened, and fair and sustainable practices are promoted.
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