---
title: "What is Consent (open finance)? | IslamicOpenFinance™"
description: "The customer's explicit, informed permission for a provider to access specified data or initiate a transaction."
url: https://islamicopenfinance.com/glossary/consent/
lang: en-GB
source: "IslamicOpenFinance"
---

[Glossary](https://islamicopenfinance.com/glossary/) / [Open finance and APIs](https://islamicopenfinance.com/glossary/#open-finance)

Open finance and APIs

# Consent (open finance)

The customer's explicit, informed permission for a provider to access specified data or initiate a transaction.

In open finance, consent is the customer's explicit permission for a licensed provider to access specified data or initiate transactions. The Central Bank of the UAE's regulation requires consent to be explicit, limited to what is necessary and easy to withdraw, and for recurring transactions it must state the period for which it is valid, within a maximum the regulation sets. Consent records should show what was agreed, with whom, for what purpose and until when.

## Sources

- [Central Bank of the UAE Rulebook, Open Finance Regulation: Article 22, Data Privacy and Consent](https://rulebook.centralbank.ae/en/rulebook/open-finance-regulation)

This entry explains a term; it is not a Shariah ruling. Approving a product is for each institution's own Shariah board and regulator.

## Related terms

[**Open finance** Customer-permissioned sharing of financial data, and initiation of services, by licensed third parties through secure interfaces.](https://islamicopenfinance.com/glossary/open-finance/) [**Data sharing (open finance)** An open finance service that gives a customer a consolidated view of their data from one or more institutions.](https://islamicopenfinance.com/glossary/data-sharing/) [**Service initiation** An open finance service in which a licensed provider initiates a transaction on a customer's account or product, with consent.](https://islamicopenfinance.com/glossary/service-initiation/) [**Strong customer authentication** Verifying a customer with at least two independent factors, such as something they know, have or are.](https://islamicopenfinance.com/glossary/strong-customer-authentication/)

**Open finance and APIs**

1. [Open finance](https://islamicopenfinance.com/glossary/open-finance/)
2. [Application programming interface (API)](https://islamicopenfinance.com/glossary/api/)
3. [Data sharing (open finance)](https://islamicopenfinance.com/glossary/data-sharing/)
4. [Service initiation](https://islamicopenfinance.com/glossary/service-initiation/)
5. [Data holder](https://islamicopenfinance.com/glossary/data-holder/)
6. [Open finance provider](https://islamicopenfinance.com/glossary/open-finance-provider/)
7. [API hub](https://islamicopenfinance.com/glossary/api-hub/)
8. [Strong customer authentication](https://islamicopenfinance.com/glossary/strong-customer-authentication/)

[All 221 terms](https://islamicopenfinance.com/glossary/)