The Central Bank of the UAE (CBUAE) announced the development of a nationwide unified electronic Know Your Customer (e-KYC) platform and signed a technical partnership agreement with Norbloc AB to support its delivery. The project is positioned as a core element of the Financial Infrastructure Transformation (FIT) Programme and is intended to reduce duplication in customer due diligence, lower compliance costs, and strengthen the efficiency of the financial system. The platform is designed to streamline Know Your Customer and Know Your Business (KYC/KYB) processes and due diligence through automated workflows and integration with trusted data sources, supporting alignment with anti-money laundering and combatting the financing of terrorism (AML/CFT) frameworks. It also incorporates privacy-by-design technology to enable secure data sharing based on explicit customer consent, and is intended to support both financial institutions and fintech firms by providing faster digital onboarding for individuals and businesses while reducing turnaround times and operational costs. Future phases are expected to expand the platform’s capabilities and deepen integration with relevant stakeholders.

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