Abu Dhabi Islamic Bank (ADIB) has rolled out Open Finance, marking a significant step in the UAE’s financial sector transformation under the Central Bank of the UAE’s (CBUAE) AlTareq Open Finance Initiative. The rollout aligns with ADIB’s Vision 2035 and positions the bank among the first in the UAE to adopt the framework, reflecting its commitment to innovation and enhanced customer experiences.
Open Finance enables consumers to access a wider range of financial services, providing greater visibility, control, and integrated digital experiences across the banking sector. Moreover, it supports informed decision-making and seamless management of accounts, products, and services across institutions.
Driving innovation and customer-centric banking
Mohamed Abdelbary, Group Chief Executive Officer of ADIB, stated, “We are proud to be among the first Islamic banks to adopt Open Finance and to contribute actively to the CBUAE’s ambitious agenda to create a more customer-centric, transparent, and innovative financial ecosystem. As an early adopter, we view Open Finance not only as a regulatory milestone but also as a strategic opportunity to elevate the value proposition we deliver to customers and partners.”
The first phase of implementation has successfully addressed regulatory and technical requirements, with transactions processed through secure, CBUAE-certified API frameworks. This milestone follows the UAE’s launch of the Nebras framework, which allows licensed financial institutions to deploy Open Finance safely, placing the country alongside global leaders such as the UK and Singapore.
Expanding digital financial services
Looking ahead, ADIB plans to broaden the customer journeys enabled by Open Finance, enhancing transparency, supporting better financial decision-making, and delivering a seamless digital experience. As a result, the initiative is expected to strengthen the UAE’s position as a regional leader in advanced, data-driven financial ecosystems while reinforcing ADIB’s role as a trusted and digitally enabled Islamic bank.
