ADIB Becomes First UAE Bank Licensed as Open Finance Third-Party Provider Under AlTareq
Abu Dhabi Islamic Bank (ADIB) has become the first bank in the United Arab Emirates to receive a Third-Party Provider (TPP) licence under the Central Bank of the UAE’s AlTareq open finance initiative. The approval marks a notable development in the country’s evolving open banking and open finance landscape, enabling the bank to expand digital services beyond its own account ecosystem.
Under the licence, ADIB will be able to securely aggregate customer-permissioned financial data from other banks and present a consolidated view of accounts through its digital channels. The service is designed to operate only with explicit customer consent and must comply with the Central Bank’s data protection and authentication requirements.
Expanding Beyond Traditional Banking Services
By securing the TPP licence, ADIB now operates in two capacities: as a regulated account-holding bank and as a licensed open finance provider. In its new role, the bank can support digital services that extend across multiple financial institutions, giving customers greater visibility over their financial positions in one place.
The bank said the capability is intended to improve financial visibility, simplify account management, and support more informed decision-making. ADIB also indicated that permissioned data access can help enable more personalised services for customers.
The move aligns with the broader direction of the Central Bank of the UAE’s 2023-2026 strategy, which aims to build a more connected and integrated financial ecosystem in the country. AlTareq open finance is part of that effort, allowing regulated data sharing between banks and authorised third parties when customers provide consent.
Management Commentary
Mohamed Abdelbary, Group Chief Executive Officer of ADIB, said the licence represents a strategic step in the bank’s digital transformation.
“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,” he said.
Further Open Finance Use Cases Ahead
ADIB said it plans to continue developing Open Finance-enabled services over time. The bank also expects to introduce additional digital use cases aimed at improving transparency and streamlining customer journeys across accounts and institutions.
The licence positions ADIB as an early mover in the UAE’s open finance transition, and may serve as a reference point for future adoption by other financial institutions operating within the Central Bank’s framework.
Industry Analysis
ADIB’s licence underscores how open finance is moving from policy framework to practical implementation in the UAE. For banks, the model creates opportunities to deepen customer relationships through data-driven services while remaining within a regulated environment. For customers, it promises more convenient access to financial information across multiple providers, with consent and security at the centre of the experience.
As the UAE continues to develop its open finance infrastructure, early licences such as ADIB’s may accelerate competition in digital banking and encourage broader adoption of interoperable financial services. The development also reflects a regional trend toward more connected financial ecosystems, where regulated data sharing is becoming a key enabler of innovation.
