The banking industry in the United Arab Emirates is getting ready for one of the biggest technological changes in decades.
Though it has been in the public domain for weeks, the true ramifications of the Central Bank of the United Arab Emirates' mandate to phase out SMS and one-time passwords (OTPs) by March 2026 are just now becoming apparent.
The reform represents a significant departure from antiquated security procedures that have grown more susceptible to fraud, far from being a simple compliance exercise.
