Abu Dhabi boasts first-class infrastructure and unparalleled global connectivity, making it a premier international destination. Its exceptional qualities make it an ideal location to live, work, and conduct business.
A financial centre that provides transparency, efficiency, and integrity, through its progressive frameworks, future focused infrastructure, all within a familiar independent legal jurisdiction – ADGM is the perfect platform for success.
ADGM, the centre for a transparent and thriving sustainable finance ecosystem.
Our community of business professionals, entrepreneurs, and investors can depend on ADGM to provide timely news and reliable insights.
At ADGM, we offer various support options, including contact details, FAQs, enquiry forms, and a whistleblowing form.
Announcement
UAE regulatory authorities launch consultation on ‘Guidelines for Financial Institutions Adopting Enabling Technologies.’
ADGM FSRA 01/06/2021
The Central Bank of the UAE (CBUAE), the Securities and Commodities Authority (SCA), the Dubai Financial Services Authority (DFSA) of the Dubai International Financial Centre (DIFC), and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) (the Regulators) have jointly launched a four-week public consultation on proposed “Guidelines for Financial Institutions Adopting Enabling Technologies”.
The consultation launched today sets out cross-sectoral principles and best practices for financial institutions when adopting enabling technologies for the development or offering of innovative products and services. The enabling technologies include: Application Programming Interfaces; Big Data Analytics and Artificial Intelligence; Biometrics; Cloud Computing; and Distributed Ledger Technology.
The objectives of these Guidelines are to promote the safe and sound adoption of these technologies by financial institutions across the UAE, so that the risks arising from the adoption of innovative activities are proactively and appropriately managed. In drawing up the Guidelines, the Regulators have considered both international standards and industry best practices.
The Guidelines will apply to all financial institutions that are licensed and supervised by any of the Regulators and who utilise the enabling technologies, irrespective of the financial activities conducted.
The Regulators welcome comments on the Guidelines which is planned to be issued in the second half of 2021, subject to the outcome of the public consultation.
To view and download the Guidelines, please click on the following link: Guidelines for Financial Institutions adopting Enabling Technologies
Comments can be sent to consultation-etechnology@cbuae.gov.ae no later than 30 Jun 2021.