FINTECH-

Regional open banking platform Tarabut secured in-principle approval from the Central Bank of the UAE (CBUAE) to extend its offerings to firms in the UAE under the Open Finance Framework, according to a press release. Tarabut is also licensed in Saudi Arabia and Bahrain, and gives banks, lenders, ins. firms, and digital platforms authorized access to customer data for income verification, real-time assessments, and personalized financial options.

ICYMI- The approval comes after the UAE introduced a regulatory framework for open finance earlier this year, with alternative payment method provider Pay10 being the first firm to secure authorization. More recently, infrastructure firm Spare and Saudi Arabia’s Lean Technologies also received approval to operate under the framework.

INFRASTRUCTURE-

#1- Dubai’s public parking operator Parkin is more than doubling its parking coverage via an agreement with Dubai Holding, according to a press release (pdf). The move will strengthen Parkin’s presence in the private-developer parking segment and across several master-planned communities in Dubai, Parkin CEO Mohamed Abdulla Al Ali said.

Under the agreement, Parkin will operate and manage around 29.6k paid parking spaces, expanding its total developer-owned portfolio to approximately 50.4k spaces. It also just recently said it will take over 2.1k spaces at religious sites across Dubai, including mosques. The phased rollout is expected to moderately impact the company’s operational income from mid-3Q 2025.

#2- Dubai Holding, Parkonic, Salik partner on AI parking: Dubai Holding is partnering with Dubai-based smart parking company Parkonic and the emirate’s toll operator Salik to roll out the region’s first fully autonomous, AI-powered parking network across more than 36k parking spaces in key Dubai Holding communities, according to Dubai Media Office. The system will offer fully automated parking with billing handled by Salik’s payment infrastructure.

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