Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution in the UAE, has taken a major step in advancing digital financial services by implementing Open Finance as part of its Vision 2035. This initiative marks a key milestone in the UAE’s Open Finance journey under AlTareq, the Central Bank of the UAE’s (CBUAE) Open Finance framework.
ADIB is among the first banks in the country to roll out Open Finance, reflecting its strong commitment to enhancing customer experience through innovation, strategic partnerships, and seamless digital banking solutions. The move unlocks new opportunities for customers to access, manage, and benefit from their financial services, while supporting the CBUAE’s efforts to advance the national digital ecosystem under its 2023–2026 strategy.
Open Finance empowers customers by providing greater visibility and control over their financial information. It enables access to a broader range of financial services, supports informed decision-making, and delivers integrated digital experiences across the banking sector.
Commenting on the implementation, Mohamed Abdel Bary, Group Chief Executive Officer of ADIB, said that the bank is proud to be among the first Islamic banks to adopt Open Finance and to contribute to the CBUAE’s vision of building a more customer-centric, transparent, and innovative financial ecosystem. He added that Open Finance represents not only a regulatory milestone but also a strategic opportunity to enhance the value delivered to customers and partners, in line with ADIB’s Vision 2035.
The first phase of the initiative has been successfully completed, covering all regulatory and technical requirements. Financial transactions are now processed through secure, CBUAE-certified application programming interface (API) frameworks, ensuring high levels of security, reliability, and compliance.
The UAE has also reached an important milestone in its digital transformation with the launch of the Nebras framework, which enables licensed financial institutions to officially and securely deploy Open Finance. This development positions the UAE alongside global leaders such as the United Kingdom and Singapore in building advanced, data-driven financial ecosystems.
Looking ahead, ADIB will continue to expand Open Finance-enabled customer journeys to enhance financial transparency, improve decision-making, and deliver a seamless digital experience across accounts, products, and institutions.