The objectives of the Guidelines are:

• •To provide Institutions with best practices on risk management in respect to Enabling Technologies;
• •To encourage the safety and soundness of Institutions so that relevant risks arising from innovative business models and services are adequately managed and mitigated;
• •To limit the systemic risks that could arise from the use of innovative technology, thus fostering transparency and financial stability;
• •To provide guidance on how to manage the risks when adopting Enabling Technologies to deliver more efficient, secure and robust solutions to Customers thereby improving organisational efficiency and financial inclusion; and
• •To promote the growth and advancement of the UAE financial services sector and encourage adoption of Innovative Activities in the UAE whilst managing risks in a proportionate manner.