Tarabut, a leading Open Banking and embedded finance platform in the MENA region, has received in-principle approval from the Central Bank of the United Arab Emirates (CBUAE) to operate under the UAE’s Open Finance regulation.
This approval marks a significant step for Tarabut, making the company the first regional fintech to be licensed under Open Finance frameworks in three major Gulf economies: Bahrain, Saudi Arabia, and now the UAE. The milestone positions Tarabut at the forefront of Open Finance in the region, underscoring its role as a key infrastructure provider for the future of financial services.
Tarabut’s technology enables regulated financial institutions, lenders, insurers, and digital platforms to leverage customer-permissioned financial data. This capability supports real-time credit decisions, income verification, and personalized financial offerings. By embedding these functionalities directly into partner platforms, Tarabut aims to facilitate inclusive, intelligent, and accessible financial services at scale.
Abdulla Almoayed, Founder and CEO of Tarabut, commented on the approval, stating, “This is a pivotal step forward for financial inclusion in the UAE and across the region. We’re proud to partner with the Central Bank of the UAE to help realise the national vision for Open Finance. Tarabut’s infrastructure delivers real-time, data-driven products – credit cards for the underserved, embedded SME financing, and more, driving real economic value and enabling access where it’s needed most.”
Across the region, Tarabut has supported various use cases, including credit cards for thin-file customers, revenue-based financing for SMEs, pre-check tools designed to reduce underwriting costs, and AI-driven financial insights for personalized user journeys. These solutions align with national economic objectives, such as fostering entrepreneurship, reducing credit barriers, and enhancing financial health for both individuals and businesses.
With real-time connectivity to all major banks in Saudi Arabia and Bahrain, coupled with the new regulatory clearance in the UAE, Tarabut is positioned to expand embedded finance and open banking initiatives across the Middle East, providing infrastructure designed for broader financial access and impact.
