Central Bank of the UAE Launches Unified National ”e-KYC” Platform to Transform Financial Infrastructure
The Central Bank of the UAE (CBUAE) has announced a strategic partnership with global technology firm norbloc to develop a unified national digital "Know Your Customer" (e-KYC) platform. This initiative is a cornerstone of the CBUAE’s Financial Infrastructure Transformation (FIT) program, aimed at digitalizing and streamlining the regulatory framework across the Emirates. The project was inaugurated in the presence of H.E. Khaled Mohamed Balama, Governor of the CBUAE, marking a decisive shift toward a more efficient, automated, and integrated financial ecosystem.
The new platform is designed to eliminate the redundancy of KYC/KYB procedures, significantly reducing compliance costs and operational timelines for financial institutions. By centralizing trusted data, the e-KYC platform will fortify the UAE’s Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) frameworks. "This platform reinforces our commitment to a digital-first regulatory environment, ensuring that the UAE remains at the forefront of global financial competitiveness," stated CBUAE leadership.
