Tarabut Gateway, open banking platform, has been granted a licence by Dubai Financial Services Authority (DFSA) to provide money services in and from Dubai International Financial Centre (DIFC).
DFSA is the independent regulator of financial services in DIFC, the leading global financial centre in the Middle East, Africa and South Asia region.
“It is an honour for us to be granted the first licence for AIS and PIS in DIFC by DFSA and one that we take with a great degree of responsibility. There is a huge potential for Open Banking across the UAE and the region, and it is the commitment from regulators and authorities that helps companies like ours take those initial steps. We are grateful to DFSA for granting us this regulatory licence and we look forward to working in close collaboration with DIFC to drive innovation in financial services,” Abdulla Almoayed, Founder and CEO of Tarabut Gateway said.
Read more: Tarabut Gateway Secures $13 Million in a Seed Funding Round
This licence marks the first time the DFSA has authorised a firm to provide account information services (AIS) and payment initiation services (PIS) activities.The licence that has been granted by DFSA allows the provision of arranging money services as well as AIS and PIS.
Also read: Can Open Banking Help Make the Middle East More Financially Inclusive? We Ask Tarabut Gateway
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