Clifford Chance

UAE Open Finance Regulation – What do I need to know?

14 May 2024

The Central Bank of the UAE has now issued its long-awaited Open Finance Regulation, establishing a new and comprehensive framework for the licensing, supervision and operation of Open Finance in the UAE. The Regulation was published in the Official Gazette on 15 April 2024 and shall come into effect in phases to be notified by the CBUAE.

This briefing marks a major new development in the UAE financial sector and has implications for all categories of CBUAE licensees. As well as providing increased control and options for consumers, Open Finance in the UAE will continue to drive innovation and growth across the financial sector. To help you navigate this new development, we have provided our commentary on some of the key topics in the regulations.

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