UAE Business: Tarabut Gateway gets DIFC licence to offer financial services – Gulf Digital News

UAE Business: Tarabut Gateway gets DIFC licence to offer financial services – Gulf Digital News

Tarabut Gateway, a leading open banking platform with offices across Bahrain and the UAE, has been granted a licence by Dubai Financial Services Authority (DFSA) to provide money services in Dubai International Financial Centre (DIFC).

Tarabut Gateway is the region’s first regulated open banking platform that connects a regional network of banks and FinTechs via a universal application programming interface (API).

DFSA is the independent regulator of financial services in DIFC, the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region.

This licence marks the first time the DFSA has authorised a firm to provide account information services (AIS) and payment initiation services activities.

By obtaining this licence, Tarabut Gateway further cements its position in the UAE and plans to boost innovation in the sector, set new industry standards, and support the financial ecosystem, it stated.

On the development, Founder and CEO Abdulla Almoayed said: "It is an honour for us to be granted the first licence for AIS and PIS in DIFC by DFSA and one that we take with a great degree of responsibility. There is a huge potential for Open Banking across the UAE and the region, and it is the commitment from regulators and authorities that