What are the Primary Business Contact Role and Responsibilities?

Oct 11, 2024

Based on the process agreed for the ecosystem, the PBC will act as the primary point of contact between your organization and the CBUAE, ensuring smooth coordination and communication throughout the onboarding and operational phases. Below are key responsibilities and expectations for the PBC: 

1. Main Point of Contact: The PBC will be responsible for facilitating communication between your organization and CBUAE. They will oversee the timely completion of all onboarding tasks and ensure that your institution complies with the Open Finance framework.

2. Administrator Responsibilities: The PBC may serve as the administrator for your organization. As the administrator, the PBC will have access to the Trust Framework (TF) system, managing user permissions and access rights within the platform. The PBC is responsible for assigning technical administrators as needed. If the PBC is not also the administrator, they will be required to appoint a Primary Technical Contact (PTC) to handle technical matters.

3. Technical Coordination (Applicable for LFIs only): The PBC, in collaboration with the PTC, will oversee the integration of your organization’s systems with the API Hub. They will ensure that technical requirements are met and that the necessary technical resources are allocated appropriately.

4. Participation Agreement and Legal Responsibilities: The PBC will be responsible for coordinating the signing of the participation agreement with CBUAE and ensuring that all necessary legal documentation is submitted. They will also be required to facilitate any necessary compliance reviews.

5. Ongoing Operational Role: Beyond the onboarding phase, the PBC will continue to act as the main point of contact for any ongoing matters related to Open Finance operations, including managing access for additional users and handling administrative updates.

6. Seniority Level: While there are no specific seniority requirements for the PBC, they should hold a role within your organization that enables them to make decisions and coordinate across departments. If preferred, the PBC can be a senior member from the technical department, but this is not a mandatory requirement.

7. Appointment: PBC should be appointed by a member of the organization's executive management team who is approved as a fit and proper person by the CBUAE.

Please refer to the Nebras Interaction Guide on Confluence at Nebras Interaction Guide - Open Finance UAE - Confluence. This guide provides comprehensive details to be included in the onboarding section (Section 2.2) and elucidates the process for utilizing the customer portal to upload information when requesting onboarding (Section 8.2).