The Al Tareq platform has published a roadmap for its upcoming API version 2.0 release, which will introduce several enhancements to the UAE Open Finance technical specifications.
Key Enhancements
Improved Account Information
- Extended transaction history (up to 7 years)
- Enhanced categorization of transactions
- Support for additional account types
Payment Initiation Updates
- Scheduled payments support
- Standing order management
- Bulk payment capabilities
New API Families
- Variable Recurring Payments (VRP) — enabling sweeping and subscription payments
- Credit Information — access to credit product details
- Insurance Information — future-proofing for Open Finance expansion
Migration Timeline
Current API v1.x implementations will continue to be supported during a transition period. The platform recommends TPPs begin reviewing the v2.0 specifications to plan their migration.
Developer Preview
A developer preview of the v2.0 APIs is expected to be available in the sandbox environment in the coming months.