ADVISORY
Consumer protection and market conduct series (Part 1 of 3)
The UAE’s financial sector is evolving with a focus on consumer protection, market conduct, and ethical practices, driven by innovation and sustainability. Key advancements include the rise of digital banking, fostering a cashless society and greater convenience. Retail lending has increased, boosting profitability, while fintech solutions enhance financial inclusion.
CBUAE Consumer Protection Regulations & Standards emphasize integrating conduct risk management in financial institutions to ensure fairness, transparency, and accountability. Further, with the launch of the CBUAE’s Ombudsman “Sanadak” highlights the importance of consumer protection, market conduct and the importance of effective complaints handling.
Institutions that neglect conduct risk may face regulatory and reputational issues, while those adopting strong market conduct frameworks can build resilience, consumer trust, and competitiveness.
Read the full article to learn more.