16 March 2023
Digital Forum | 15:00 -17:00 GST (GMT+4)
MENA Open Finance Innovation Forum
The catalyst of change in open banking ecosystem.
Get insights on real use cases of open banking and finance from the early adopters and discover future preparedness of regional & local banks towards adoption of open finance solutions.
THE OPEN BANKING ECOSYSTEM - A MATCH MADE IN HEAVEN!
The time is ripe for the financial industry to leverage the benefits that Open APIs allow partnering with FinTechs, funds, real estate, insurance, consumer credit among others to build new and better digital and customer experience. The new generation of massive volumes of Open API demand is allowing new entrants to innovate and disrupt.
Our Previous Speakers
Hear more on how to fast-track the integration of Open APIs with the existing finance ecosystem
Future Open Finance Model: Challenge, Catalyst of Change, and Growth Model of Open Banking.
How Trust Between Consumers and Banks Can Unlock and Maximise The Value of Open Banking
Making the Partnership between Financial Institutions and Fintech & Insurtechs a Success
How Open Banking serve the needs of Arab Economy?
Experiences and Use Cases from Global Open Finance
Role of Data in the Anti Money Laundering and Counter-Financing of Terrorism Supervision.
Open Data, AI strategy and the future of Open Banking in Saudi
Future Jobs of Bankers due to change in Industry, Education and Learning Opportunities
Key Market Trends in Middle East
Two countries — Bahrain and Saudi Arabia — have implemented a full open banking policy and framework. Kuwait, Egypt, and the UAE have also announced plans to do so. There are 11 fintech regulatory sandboxes in the MENA region as of November 2022, up from four regulatory sandboxes in 2019.
Bahrain has played a vital role with this initiative and adopted the open finance framework locally. It is also advocating other countries in the Middle East to start using the framework in order to enable banks to benefit from fintech digitization. Central Bank of Bahrain (CBB) launched its open banking framework in October 2020.
In Saudi Arabia, Saudi Central Bank (SAMA) has announced that they are going to go live with their own open finance policy with directives that will be enforced starting mid-2022. The Saudi Central Bank (SAMA) issued its framework in November 2022.
The UAE is also clearly on its way. Nearly nine out of ten institutions in the UAE plan to enable open finance in the next 12 months. The Central Bank of UAE and state regulators have voiced their support, and the federation’s government has announced its interest in supporting digital finance investments. The Dubai Financial Authority (DFSA) started granting open finance licenses in 2020. DIFC-based Tarabut Gateway became the first open banking platform to receive a license from the Dubai Financial Services Authority (DFSA) in April 2022.
Unlock limitless opportunities by attending a FastForums event
Find out how open banking products and solutions can enable you to achieve your open finance goals. Learn how to deliver and secure extraordinary financing and digital experiences.
Get insights on real use cases of open banking and finance from the early adopters and learn about the future readiness and preparedness of regional & local banks towards adoption open finance solutions. Hear about the latest regulations and mandates for open finance and open banking.
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