Tarabut Gateway completes KSA Open Banking certification, launches Open Banking services

MENA Open Banking platform Tarabut Gateway has successfully completed the KSA Open Banking certification and is now launching its Open Banking services within the Regulatory Sandbox, based on the Open Banking Framework released by the Saudi Central Bank (SAMA).

This certification, a significant milestone in the company’s growth trajectory, demonstrates Tarabut Gateway’s commitment to delivering best-in-class user experiences that power the region’s next generation of financial services.

Tarabut Gateway CEO Abdulla Almoayed (pictured) commented, “We are delighted to meet the rigorous Open Banking Framework released by the Saudi Central Bank (SAMA). This achievement reflects our relentless commitment to driving the growth of open banking in the Kingdom of Saudi Arabia and beyond. We extend our gratitude to SAMA for its continued support and guidance throughout this process.”

Tarabut Gateway’s achievement of being among the first to attain the certification significantly bolsters its position as a major player in the region’s evolving financial technology landscape. It is a testament to the company’s dedication to spearheading innovation and growth within the open banking industry in the region.

In November 2022, Tarabut Gateway became one of the first fintechs to receive the permit to test its innovative services under SAMA’s regulatory sandbox environment. In May 2023, the company was certified as AIS Retail Provider.

This latest news comes at a busy time for Tarabut Gateway with a recent strategic partnership with Qarar, another strategic partnership with the global digital payment leader Visa and most significantly, a US$32 million Series A fundraise.