1. Violation of any provision of this Regulation or committing any of the violations provided for under the Central Bank Law or other applicable laws may subject the Open Finance Provider and/or Licensee to administrative and financial sanctions and penalties as deemed appropriate by the Central Bank.

1. Open Finance Providers will be subject to applicable consumer protection laws and their implementing regulations as well as any Regulations issued.

1. The Regulatory Development Department of the Central Bank shall be the reference for interpretation of the provisions of this Regulation.

1. This Regulation shall be published in the Official Gazette in both Arabic and English and shall come into effect in phases as notified by the Central Bank.

Khaled Mohamed Balama

 Governor of the Central Bank of the United Arab Emirates