The Qatar Central Bank has issued artificial intelligence governance guidelines applicable to all financial institutions licensed under its regulatory framework, establishing a formal requirement for prior regulatory approval before firms may acquire, licence, or outsource high-risk AI systems, the regulator announced on 4 September 2024.
The AI Guideline applies to the full range of QCB-licensed entities, encompassing banks, insurance companies, payment service providers, and other regulated financial institutions operating within Qatar.
PRIOR APPROVAL FOR HIGH-RISK AI SYSTEMS
The guidelines require financial institutions to obtain QCB approval of their purchase, licensing, or outsourcing agreements for high-risk AI systems before those agreements are signed.
ETHICAL AI FRAMEWORK FOR QATAR'S FINANCIAL SECTOR
Beyond the prior approval requirements — firms need QCB approval before launching any new AI system, and before signing agreements for high-risk systems — the QCB's guidelines establish a broader framework for ethical and responsible use of artificial intelligence across Qatar's financial sector. The framework addresses governance structures, accountability for AI outcomes, transparency and explainability obligations, fairness and non-discrimination standards, and data quality requirements that institutions must satisfy in connection with their AI activities.
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