Milestone certification - required by KSA's Open Banking Framework - ahead of country launch
Follows $32 million Series A fundraise & Visa partnership aimed at strengthening Saudi market
Riyadh, Saudi Arabia – Tarabut Gateway, MENA’s leading open banking platform, announces today it 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.
Abdulla Almoayed, CEO of Tarabut Gateway, 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.
