As UAE’s Open Finance ecosystem approaches its first anniversary, it’s valuable to compare progress with more established markets.
Global Comparison
| Market | Launch Year | Active Participants | API Standards |
|---|---|---|---|
| UK | 2018 | 700+ | Open Banking UK |
| EU (PSD2) | 2019 | 500+ | Berlin Group |
| Brazil | 2021 | 800+ | Open Finance Brasil |
| Australia | 2020 | 100+ | Consumer Data Right |
| UAE | 2024 | 10+ | Al Tareq |
Key Observations
Speed of Adoption
UAE is following a measured approach, prioritizing security and compliance over rapid expansion. This mirrors the UK’s early strategy.
Regulatory Support
The CBUAE’s proactive stance provides clear guidelines, reducing uncertainty for participants.
What’s Next
Industry observers expect TPP participation to accelerate in 2025 as sandbox access becomes more streamlined.