Tarabut, an Open Banking and embedded finance platform in the MENA region, has received in-principle approval from the CBUAE, following the launch of the UAE’s Open Finance regulation.
The initiative aims to enable the company to contribute more to the Open Finance industry, marking the third national regulatory licence Tarabut received recently, after Bahrain and Saudi Arabia.
Financial inclusion and connectivity in the Gulf region
The company delivers a compliant and secure API infrastructure that allows its clients to provide personalised financial journeys, advancing inclusion across the region. Tarabut’s solutions enable regulated financial institutions, lenders, insurers, and digital platforms to take advantage of customer-permissioned financial data to offer credit decisions, income verification, and personalised offerings. Institutions and businesses can implement these features directly into their platforms and unlock accessible and optimised financial services.
With the approval from the CBUAE, Tarabut is now a regional fintech licenced under Open Finance frameworks in all three Gulf countries, reflecting its mission to contribute to the future of financial services. In the region, Tarabut supported credit cards for thin-file customers, revenue-based financing for SMEs, tools to pre-check and reduce underwriting costs, and AI-powered financial insights for personalised user experiences.
These solutions are aligned with national economic goals, supporting entrepreneurship, minimising credit challenges, and upgrading financial health for businesses and individuals. The company believes that the approval for the regulatory licence and its partnership with the CBUAE are a key step for financial inclusion and for realising the national vision for Open Finance.
The company focuses on infrastructure that supports real-time, data-driven products, including credit cards for underserved, embedded SME financing. This will drive economic value and enable access to better financial solutions where it is needed the most, leading to connectivity between banks in Saudi Arabia, the UAE and Bahrain.
