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Tarabut Becomes First Fintech Licensed Across UAE, Saudi Arabia, and Bahrain Under Open Finance Framework

Prime Highlights

  • Tarabut gets in-principle support from UAE’s Central Bank with the newly launched Open Finance Regulation.
  • A fintech innovation milestone for the Gulf, enabling cross-border embedded finance services.

Key Facts

  • Tarabut is approved to do business in all three of the region’s largest economies: the UAE, Saudi Arabia, and Bahrain.
  • The business provides real-time, permissioned financial data infrastructure for insurers, SMEs, and banks.

Key Background

Tarabut, a leading MENA region open banking and bedded finance platform, has entered in- principle blessing from the Central Bank of the UAE( CBUAE) to operate under the UAE’s lately espoused Open Finance regulation. Tarabut is now the first MENA fintech company to be certified in the UAE, Saudi Arabia, and Bahrain — three of the most significant Gulf husbandry.

The UAE Open Finance regulation is a part of an overarching digital policy of change that is designed to promote financial inclusion, innovation, and customer choice. The regulation allows accredited third-party providers to access secure consumer financial data—subject to the approval of the users—to offer more tailored financial products. Tarabut’s authorization is a critical step that allows it to offer embedded finance products and directly interact with top UAE banks.

Tarabut’s platform accommodates a number of use cases ranging from income verification to credit scoring of “thin-file” consumers, AI-powered personal banking experience, and revenue-based lending to SMEs. These are critical in a market aiming to lower financial access hurdles and develop digital financial services. Tarabut’s business is designed to enable banks, fintechs, and insurers to offer data-driven, real-time services.

With this new license, Tarabut will be a driver of Gulf financial integration. Its regional common infrastructure will facilitate more open finance and open banking service integration. The program also aligns with national economic diversification and SME growth priorities, offering tech-driven capabilities to make possible enhanced financial health and inclusion.

Tarabut’s CEO, Abdulla Almoayed, described this achievement as a “watershed moment for financial inclusion” in the UAE and regionally, in supporting the company’s vision of building the pillar for MENA’s open finance.

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