Tarabut, a Dubai-based open banking and embedded finance platform, has received in-principle approval from the Central Bank of the United Arab Emirates (CBUAE), following the introduction of the UAE’s Open Finance regulation.

This development marks Tarabut’s third national regulatory license after Bahrain and Saudi Arabia and positions the company among the early movers in the region’s open finance sector.

With this latest approval, Tarabut becomes the first fintech in the region to operate under Open Finance frameworks in all three major Gulf economies.

The company provides the underlying infrastructure for financial institutions, lenders, insurers, and digital platforms to access and utilise customer-permissioned financial data.

Its technology supports services such as real-time credit decisioning, income verification, and personalisation of financial offerings by embedding these tools directly into partner platforms.

Abdulla Almoayed, Founder and CEO of Tarabut, commented,

“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.”

Tarabut’s systems have been implemented in a range of use cases across the region, including support for credit products for customers with limited credit histories, revenue-based SME financing, tools that reduce underwriting costs, and AI-led financial insights to enhance user experiences.

These applications align with broader economic aims, including the promotion of entrepreneurship, improved credit access, and support for financial well-being.

Featured image credit: Tarabut