UAE plays catch-up with open banking regulations

As Saudi Arabia begins issuing technical certifications to banks and fintechs, the UAE’s open banking framework remains some way off, writes John Everington.

by John Everington

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UAE plays catch-up with open banking regulations

Image: Getty Images

The rollout of open banking in the Middle East’s largest banking markets has thus far been a study in contrasting approaches.

Bahrain, once the region’s banking hub and still home to the 10 of the region’s largest 100 lenders, formally commenced its open banking programme in 2018, publishing a comprehensive framework in October 2020.

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John Everington

John Everington is the Middle East and Africa editor. Prior to joining The Banker, John was the deputy business editor of The National in the UAE, and has also worked for Dealreporter, Arab News and The Telegraph. He has also covered the telecom sector in Africa and the Middle East, living and working in Qatar and the UK. John has a BA in Arabic and History and an MA in Middle Eastern Studies from the School of Oriental and African Studies (SOAS) in London.

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