ADIB leads UAE Islamic banking push into open finance era

Abu Dhabi Islamic Bank (ADIB) has become the first Islamic bank to implement Open Finance in the UAE, marking a significant milestone in the country’s drive to build a more connected, transparent and customer-focused financial system.

The move forms part of ADIB’s Vision 2035 strategy and supports the Central Bank of the UAE’s (CBUAE) Open Finance Initiative, AlTareq, which sits at the heart of the regulator’s 2023–2026 digital transformation agenda.

ADIB is among the first banks in the country to introduce Open Finance capabilities, positioning it at the forefront of the UAE’s evolving digital banking ecosystem.

Open Finance enables customers to securely share their financial data across institutions, giving them greater visibility and control over their finances. The framework allows consumers to access a wider range of financial services, make more informed decisions and benefit from more integrated digital experiences across the banking sector.

Mohamed Abdelbary, Group Chief Executive Officer of ADIB, said: “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. This initiative aligns directly with ADIB’s Vision 2035 and our commitment to building the most trusted and digitally enabled Islamic bank in the region.”

ADIB enhances customer financial experience

The first phase of ADIB’s Open Finance rollout has already been completed, covering both regulatory and technical requirements. Financial transactions are now being processed through secure, central bank-certified application programming interfaces, ensuring high standards of data protection and operational resilience.

The launch follows a broader national milestone with the introduction of the Nebras framework, which allows licensed financial institutions to deploy Open Finance services officially and securely. This development places the UAE alongside leading global markets such as the UK and Singapore in building advanced, data-driven financial ecosystems.

Industry observers say Open Finance is expected to reshape how customers interact with banks, fintech firms and other financial service providers by enabling more personalised products, improved financial planning tools and smoother digital journeys across multiple institutions.

Looking ahead, ADIB said it plans to continue expanding customer journeys enabled by Open Finance, with a focus on strengthening transparency, improving decision-making and delivering seamless digital experiences across accounts, products and financial platforms.

The bank’s early adoption underscores the growing role of Islamic financial institutions in driving innovation within the UAE’s banking sector, as regulators and lenders work together to modernise financial services and support the country’s long-term digital and economic ambitions.