CBUAE mandates consumer financial data sharing 

UAE: The Central Bank of UAE (CBUAE) is making it mandatory for all institutions under its supervision to participate in seamless consumer financial data sharing across platforms. It has issued an Open Finance Regulation to enable consumers to consolidate their financial information – with expressed consent for the sharing of such sensitive data with trusted third parties within an integrated business system. CBUAE-regulated institutions, as data holders and service owners, are required to provide participants in the Open Finance Framework with access to customer data and the ability to initiate transactions on accounts and products to better meet customer needs and enhance user experiences.