UAE Central Bank mandates phase-out of SMS and email OTP authentication by March 2026

The Central Bank of the United Arab Emirates (CBUAE) has issued a directive requiring all financial institutions to eliminate SMS and email-based one-time password (OTP) authentication for customer transactions by March 31, 2026. This move, aimed at bolstering digital banking security, will affect banks, finance companies, exchange houses, insurers, and payment service providers across the…