Latest news with #AbdullaAlmoayed
Web Release
4 days ago
- Business
- Web Release
Tarabut Secures In-Principle Approval from the Central Bank of the UAE, Marking a Milestone for Embedded Finance and Financial Inclusion
Tarabut Secures In-Principle Approval from the Central Bank of the UAE, Marking a Milestone for Embedded Finance and Financial Inclusion Tarabut, MENA's leading 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 milestone positions Tarabut at the forefront of Open Finance in the region and marks the third national regulatory license for the company, after Bahrain and Saudi Arabia. With this approval, Tarabut becomes the first regional fintech to be licensed under Open Finance frameworks in all three major Gulf economies, underscoring its critical role as the infrastructure layer powering the future of financial services in the region. Tarabut's technology enables regulated financial institutions, lenders, insurers, and digital platforms to leverage customer-permissioned financial data for real-time credit decisions, income verification, and personalised offerings. By embedding these capabilities directly into partner platforms, Tarabut unlocks inclusive, intelligent, and accessible financial services, at scale. 'This is a pivotal step forward for financial inclusion in the UAE and across the region,' said Abdulla Almoayed, Founder and CEO of Tarabut. '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 powered transformative use cases such as: Credit cards for thin-file customers Revenue-based financing for SMEs Pre-check tools that reduce underwriting costs AI-driven financial insights that personalise user journeys These solutions are directly aligned with national economic goals, supporting entrepreneurship, reducing credit barriers, and improving financial health for individuals and businesses. With real-time connectivity to all major banks in Saudi Arabia and Bahrain, and now regulatory clearance in the UAE, Tarabut is uniquely positioned to scale embedded finance and open banking across the Middle East, delivering infrastructure that is inclusive by design and built for impact.
Yahoo
4 days ago
- Business
- Yahoo
Open bankingplatform Tarabut gets in-principle nod from UAE central bank
Tarabut, an open banking and embedded finance platform operating in the Middle East and North Africa (MENA) region, has obtained in-principle approval from the Central Bank of the UAE. This came in light of the recent Open Finance regulation introduced in the UAE. According to a press release posted on Zawya, Tarabut is now the first fintech company in the region to hold licences under Open Finance frameworks in Bahrain, Saudi Arabia, and the UAE. The platform's technology facilitates the use of customer-permissioned financial data by regulated financial institutions, lenders, insurers, and digital platforms. This capability is said to support 'real-time' credit assessments, income verification, and tailored financial offerings. By embedding these functionalities into partner platforms, Tarabut aims to enhance the accessibility of financial services across the region. The company has been providing credit cards for individuals with limited credit histories. It has also been offering revenue-based financing options for small and medium-sized enterprises (SMEs) and pre-check tools tools to lower underwriting expenses. Additionally, it employs AI-based insights to customise user experiences. These initiatives are in line with broader economic goals, promoting entrepreneurship, and lowering barriers to credit access. Tarabut founder and CEO Abdulla Almoayed said: '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.' "Open bankingplatform Tarabut gets in-principle nod from UAE central bank" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Fintech News ME
4 days ago
- Business
- Fintech News ME
Tarabut Secures UAE Central Bank Approval for Open Finance Operations
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.
Business Wire
4 days ago
- Business
- Business Wire
Tarabut Secures In-Principle Approval from the Central Bank of the UAE, Marking a Milestone for Embedded Finance and Financial Inclusion
DUBAI, United Arab Emirates--(BUSINESS WIRE)-- Tarabut, MENA's leading 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 milestone positions Tarabut at the forefront of Open Finance in the region and marks the third national regulatory license for the company, after Bahrain and Saudi Arabia. With this approval, Tarabut becomes the first regional fintech to be licensed under Open Finance frameworks in all three major Gulf economies, underscoring its critical role as the infrastructure layer powering the future of financial services in the region. Tarabut's technology enables regulated financial institutions, lenders, insurers, and digital platforms to leverage customer-permissioned financial data for real-time credit decisions, income verification, and personalised offerings. By embedding these capabilities directly into partner platforms, Tarabut unlocks inclusive, intelligent, and accessible financial services, at scale. 'This is a pivotal step forward for financial inclusion in the UAE and across the region,' said Abdulla Almoayed, Founder and CEO of Tarabut. '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 powered transformative use cases such as: Credit cards for thin-file customers Revenue-based financing for SMEs Pre-check tools that reduce underwriting costs AI-driven financial insights that personalise user journeys These solutions are directly aligned with national economic goals, supporting entrepreneurship, reducing credit barriers, and improving financial health for individuals and businesses. With real-time connectivity to all major banks in Saudi Arabia and Bahrain, and now regulatory clearance in the UAE, Tarabut is uniquely positioned to scale embedded finance and open banking across the Middle East, delivering infrastructure that is inclusive by design and built for impact. About Tarabut Tarabut is MENA's leading Open Banking and Embedded Finance platform, regulated in Saudi Arabia, the UAE, and Bahrain. The company provides secure, compliant API infrastructure that enables financial institutions and digital platforms to deliver seamless, personalised financial experiences, advancing financial inclusion across the region.
Zawya
4 days ago
- Business
- Zawya
Tarabut secures in-principle approval from the Central Bank of the UAE
Dubai, UAE: Tarabut, MENA's leading 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 milestone positions Tarabut at the forefront of Open Finance in the region and marks the third national regulatory license for the company, after Bahrain and Saudi Arabia. With this approval, Tarabut becomes the first regional fintech to be licensed under Open Finance frameworks in all three major Gulf economies, underscoring its critical role as the infrastructure layer powering the future of financial services in the region. Tarabut's technology enables regulated financial institutions, lenders, insurers, and digital platforms to leverage customer-permissioned financial data for real-time credit decisions, income verification, and personalised offerings. By embedding these capabilities directly into partner platforms, Tarabut unlocks inclusive, intelligent, and accessible financial services, at scale. 'This is a pivotal step forward for financial inclusion in the UAE and across the region,' said Abdulla Almoayed, Founder and CEO of Tarabut. '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 powered transformative use cases such as: Credit cards for thin-file customers Revenue-based financing for SMEs Pre-check tools that reduce underwriting costs AI-driven financial insights that personalise user journeys These solutions are directly aligned with national economic goals, supporting entrepreneurship, reducing credit barriers, and improving financial health for individuals and businesses. With real-time connectivity to all major banks in Saudi Arabia and Bahrain, and now regulatory clearance in the UAE, Tarabut is uniquely positioned to scale embedded finance and open banking across the Middle East, delivering infrastructure that is inclusive by design and built for impact. About Tarabut Tarabut is MENA's leading Open Banking and Embedded Finance platform, regulated in Saudi Arabia, the UAE, and Bahrain. The company provides secure, compliant API infrastructure that enables financial institutions and digital platforms to deliver seamless, personalised financial experiences, advancing financial inclusion across the region. For media enquiries: Tarabut@
