The Central Bank of the UAE (CBUAE) has announced the development of a nationwide unified Know Your Customer (e-KYC) platform — a landmark initiative that promises to fundamentally transform how financial institutions verify customer identities and manage compliance across the Emirates.
Partnership with Global Tech Firm Norbloc AB
The CBUAE announced the development following the signing of a technical partnership agreement with the global technology company Norbloc AB. This strategic initiative constitutes a core pillar of the Financial Infrastructure Transformation (FIT) Programme, which aims to build an integrated financial ecosystem that enhances operational efficiency.
The signing was witnessed by CBUAE Governor Khaled Mohamed Balama, lending the initiative significant institutional weight.
What the Platform Will Deliver
The platform will address challenges arising from the duplication of customer due diligence processes, reduce compliance costs, and strengthen financial stability and competitiveness, further reinforcing the UAE’s leadership in the global digital financial landscape.
Built on a privacy-by-design framework, the platform enables secure data sharing strictly based on explicit customer consent, ensuring high standards of confidentiality, data protection, and trust across the financial system. It will serve both traditional financial institutions and fintech companies, delivering faster digital onboarding for individuals and businesses while driving down operational costs.
Strengthening AML and CFT Compliance
The platform will also deepen alignment with anti-money laundering (AML) and counter-terrorism financing (CFT) frameworks through automated workflows and integration of trusted data sources. Norbloc’s CEO Astyanax Kanakakis said the platform “will fundamentally reshape how government entities and financial institutions share and verify customer and company data across the UAE.”
CBUAE Assistant Governor Saif Humaid Al Dhaheri described the initiative as a strategic shift away from resource-intensive traditional processes towards digital models that accelerate access to financial services and reduce costs — a clear signal that the UAE’s financial infrastructure is entering a new, more efficient era.
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