The Consumer Protection Standards, issued by the CBUAE, outline mandatory requirements for Licensed Financial Institutions in the UAE. These standards aim to ensure transparency, fair market conduct, and protection of consumer data and assets. The document supplements Circular No. 8 – 2020 and is enforceable in the same manner as the regulation.
Key requirements
- Licensed Financial Institutions must apply disclosure and transparency requirements to all financial products and services provided through all communication channels.
- All disclosure information must be available in both Arabic and English.
- Information must be available in a format accessible and suitable for People of Determination.
- Information must be in clear and plain language, using user-friendly font, color, and spacing.
Applies to: Licensed Financial Institutions in the UAE