UAE sets rules for safe use of AI in banking

NEW NORMS DETAIL TRANSPARENCY, USER SAFEGUARDS

- BY NIVETHA DAYANAND Assistant Business Editor

The Central Bank of the UAE has issued new guidance aimed at protecting consumers and ensuring the responsible use of artificial intelligence and machine learning across the financial sector, as banks accelerate digital transformation.

The framework applies to all licensed financial institutions operating in the UAE and sets expectations for how AI technologies may be deployed in financial services. It is designed to ensure that increased use of automation and advanced analytics does not undermine consumer rights, financial stability or trust in the banking system.

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