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DUBAI / WAM
To mark Data Privacy Day, the Ministry of Finance (MoF) has emphasised the importance of protecting personal data for financial transactions, in light of the digital revolution and the increasing global trends to protect individuals from the misuse of their personal information or violation of their privacy. Younis Haji Al Khoori, Under-Secretary at MoF, highlighted that standards of data protection are used as a foundation to implement best international practices in the financial markets, and are global requirements to measure countries’ international competitiveness index. He also reaffirmed the UAE’s commitment to protect the rights, data and personal information of individuals, and to provide a clear privacy policy.
“The developed economic and legislative framework of the country sets focus on protecting personal information by collecting, preserving and processing data, to prevent misuse of data, privacy violation and financial losses,†Al Khoori added.