The Central Bank of the UAE (CBUAE) has issued new guidelines directing licensed financial institutions on the responsible use of artificial intelligence and machine learning. The framework prioritises governance, fairness, transparency, data privacy and strong human oversight to safeguard consumers.
Banks and financial firms must implement documented AI governance structures aligned to their operational complexity, with boards and senior management held accountable for AI-driven outcomes. Institutions are required to prevent discriminatory or manipulative results and ensure customers can request human review or opt out of automated decisions.
The move strengthens the UAE’s position as a regional AI front-runner, complementing initiatives such as the Mohamed bin Zayed University of Artificial Intelligence and global tech partnerships. It also aligns the UAE with international regulators advancing responsible AI standards in financial services.
Gulf Economist Staff Writer