ADIB gets TPP license under Open Finance initiative

By Aarav Garg

Abu Dhabi Islamic Bank (ADIB) has been licensed in the UAE as a Third Party Provider (TPP) under the Central Bank’s AlTareq Open Finance initiative, marking a step in its digital transformation strategy.

The licence allows ADIB to aggregate customer-permissioned financial data from other banks, enabling users to view multiple accounts through a single interface. The capability is based on customer consent and data protection standards, and aligns with the Central Bank of the UAE’s 2023–2026 strategy to build a more connected financial ecosystem.

ADIB will operate in a dual role within the framework. As a bank, it will continue to safeguard customer accounts and data, while as a licensed TPP it can extend services beyond its own platform. This includes enabling customers to manage accounts held with other institutions, improving visibility and simplifying financial decision-making.

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.”

The bank said the integration will support automation and more efficient data consolidation, while also helping it better understand customer behaviour and tailor services.

The development builds on ADIB’s broader digital initiatives, including fully digital onboarding for home finance and card applications. The AlTareq initiative enables secure data sharing between financial institutions and authorised providers, positioning the UAE among markets advancing open finance frameworks.