ADIB Becomes the UAE’s First Bank Licensed to operate as an Open Finance Provider under the UAE’s Open Finance AlTareq Initiative

Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has become the first bank in the UAE to be licensed as a Third‑Party Provider (TPP) or Open Finance Provider under the UAE Central Bank Open Finance AlTareq initiative. This milestone marks a significant step in ADIB’s transformation journey and 2035 vision to build the bank of the future. 

The TPP license enables ADIB to securely aggregate customer‑permissioned account data from other banks, giving customers a consolidated view of their finances through a single, trusted ADIB interface. Built on explicit customer consent and strong data‑protection standards, this capability reflects ADIB’s commitment to innovation and more seamless digital banking. The milestone also supports the Central Bank of the UAE’s 2023–2026 strategy to advance a more connected and customer‑centric national digital ecosystem. It builds on ADIB’s early adoption of Open Finance, as ADIB was among the first in the UAE to introduce Open Finance, demonstrating its commitment to continually enhancing customer experience through innovation, strong partnerships, and seamless digital banking.

Through AlTareq Open Finance initiative, ADIB plays a dual role within the evolving financial ecosystem. As a regulated bank, ADIB continues to act as a trusted custodian of customer accounts and financial data, safeguarding information in line with the Central Bank of the UAE’s regulatory standards. This includes enabling secure data sharing through approved APIs, strictly governed by customer consent, strong authentication and robust data‑protection controls. In parallel, ADIB’s Third‑Party Provider (TPP) license enables the bank to extend its capabilities beyond traditional banking boundaries. As a licensed TPP, ADIB can enhance its digital channels by enabling customers to view and manage accounts held with other banks. This account aggregation capability provides customers with a consolidated view of their finances, simplifying financial oversight and decision‑making while ensuring full transparency, control and consent. Built on robust security and data‑protection standards, the solution is designed to make everyday financial management more intuitive and customer‑centric.

Customers will benefit from seamless integration across accounts, improved automation and more efficient data consolidation, simplifying financial oversight. In addition, access to aggregated, customer‑permissioned financial data enhances ADIB’s ability to better understand customer behaviour, tailor solutions and identify new opportunities. 

Al Tareq Open Finance is an initiative that, with the customer’s explicit consent, enables the secure sharing of financial data between banks and authorized third parties such as TPPs. 

ADIB’s Open Finance milestone builds on the bank’s broader digital transformation efforts to simplify and accelerate key customer journeys. Most recently, ADIB enhanced its fully digital onboarding capabilities for Home Finance Approval and Card journeys, enabling both existing customers and non‑customers to complete applications seamlessly in minutes through straight‑through digital processes. These advancements reflect ADIB’s continued focus on customer‑centric, future‑ready banking, underpinned by innovation, strong governance and regulatory alignment.

Mohamed Abdelbary, Group Chief Executive Officer of ADIB, said: “Becoming the first bank licensed as a Third‑Party Provider under the UAE’s AlTareq Open Finance initiative is a strategic step in building the bank of the future. It enables us to deliver more connected, faster and more personalised solutions for our customers, while maintaining the highest standards of security and regulatory compliance. This milestone positions ADIB at the forefront of a rapidly evolving financial services landscape, allowing us to move beyond traditional and siloed banking models to provide customer‑driven experiences. It also aligns with ADIB’s Vision 2035, which is anchored in innovation, customer centricity and sustainable growth. 

More recently, the UAE recorded an important milestone in digital transformation with the launch of the AlTareq initiative , which allows licensed financial institutions to deploy Open Finance officially and securely. This positions the UAE alongside global leaders in building advanced, data-driven financial ecosystems.

Looking ahead, ADIB will continue to expand and refine customer journeys enabled by Open Finance, with additional features and use cases to be rolled out over time. The bank will regularly enhance and update these digital journeys to strengthen financial transparency, support better customer decision making, and deliver a more seamless digital experience across accounts, products, and institutions.