Tarabut secures Open Finance approval from UAE Central Bank

Tarabut has achieved a significant milestone by receiving in-principle approval from the Central Bank of the UAE, marking an important step as the UAE recently introduced its Open Finance regulation.

With this accomplishment, Tarabut becomes the first fintech player in the region to secure licences under Open Finance frameworks in Bahrain, Saudi Arabia, and now the UAE.

Abdulla Almoayed, Tarabut’s founder and CEO, described this approval as a pivotal leap for financial inclusion within the UAE and the wider region.

“Partnering with the Central Bank of the UAE, positions Tarabut at the forefront of bringing the nation’s Open Finance vision to life. With this achievement, Tarabut continues to write the next chapter of MENA’s financial landscape—one in which financial innovation and inclusion go hand in hand.”

Helping SMEs grow

Tarabut’s platform enables regulated financial institutions, lenders, insurers, and a wide range of digital platforms to leverage customer-permissioned financial data. This not only streamlines real-time credit assessments and income checks but also allows partners to design bespoke financial products for their customers.

Embedding these capabilities directly into partner platforms truly raises the bar for accessible and dynamic financial services throughout the Middle East and North Africa.

The company has extended its reach by providing credit card options for customers with limited or non-existent credit histories—helping many individuals who might otherwise be excluded from the system.

For small and medium-sized businesses, Tarabut offers creative revenue-based financing and pre-check solutions that help reduce underwriting costs, providing a direct boost to entrepreneurs and SMEs.