Qatar: Implemented Artificial Intelligence Guideline on Regulating the use of Artificial Intelligence by QCB Licensed Entities including design requirement

On 4 September 2024, the Qatar Central Bank (QCB) issued the Artificial Intelligence (AI) Guideline on Regulating the use of Artificial Intelligence by QCB Licensed Entities including design requirement. In particular, the guideline regulates the use of AI by entities licensed under its jurisdiction and aims to ensure that AI is used safely, securely, and efficiently within the financial sector. It applies to all QCB-regulated entities that develop, purchase, or outsource AI systems, with the overarching goal of aligning AI usage with sound governance, risk management, and ethical standards. Furthermore, the guideline requires human oversight of AI systems, particularly those classified as high-risk. Entities must establish protocols that allow human supervisors to monitor AI operations and intervene when necessary, ensuring that AI systems operate within expected parameters and do not pose undue risks. Finally, entities are required to adopt robust data governance frameworks and ensure that AI systems are fair, unbiased, and aligned with ethical standards.