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National Bank of Bahrain introduces open banking

National Bank of Bahrain has launched an open banking offering, the first bank in the country to do so. The bank is partnering with Bahrain-based fintech Tarabut Gateway, the country’s first licensed open banking systems provider. The bank’s customers are able to access new digital services and aggregate all their accounts from any bank in Bahrain. This will enable them to create a consolidated view of their finances from within NBB’s online and mobile banking apps. Yaser Alsharifi, chief strategy officer at the bank, said allowing the customers to get a full view of their finances in one place is an important step in making banking more accessible and convenient and an achievement towards the bank’s digital offerings. The Central Bank of Bahrain introduced regulations in November 2018 that mandated the adoption of open banking by all banks in the kingdom by 30 June 2019.

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