In today’s Hyperconnected world, it has never been easier to share your personal data with other individuals & organizations. People often share their personal details and many other information to organizations. Don’t you think your personal data must be safeguarded and protected by the businesses you share it with?
Abu Dhabi Global Market (ADGM), the award-winning International Financial Centre located in Abu Dhabi, has announced that it has enacted the Data Protection Regulations 2021, which will replace the current Data Protection Regulations 2015. Furthermore, it has conducted an international benchmark of international standards and best practices and believes the European Union’s General Data Protection Regulation (which took effect in May 2018) is the leading international standard and best practice for robust Data Protection legislation.
What does Personal Data consist of?
- Name
- Address
- Phone Numbers
- Medical Records
- Income
- Cultural Profile
- And many more….
Purpose of this initiative?
The new Regulations are adapted to the needs of ADGM and are intended to be proportionate and business friendly, without undermining the key ambition of achieving a high standard of protection for personal data. New regulations aimed at increasing the protection of personal data processed in ADGM.
What are the best international practices ADGM has placed?
- Promoting Data Protection
- Maintaining the register of data controllers
- Enforcing the obligations upon Data controllers
- Upholding the rights of individuals
ADGM recognizes that adoption of the new Regulations will result in significant changes and additional responsibilities for Data Controllers and Data Processors. Accordingly, a transition period is proposed of 12 months for current establishments, and 6 months for new establishments, from 14 February 2021.
Through applying the new regulations, entities can be assured of the highest standards of data protection, in line with international best practice. In the end, its all about protecting personal data which builds trust and enhances relationships.