Tarabut, the MENA region’s leading embedded finance and open banking platform, has announced the signing of a Memorandum of Understanding (MoU) with Khaleeji Bank, one of Bahrain’s leading Islamic banks. The MoU aims to enhance the Bank’s digital channels and customer experience through Tarabut’s open banking and financial data analytics technologies, enabling more advanced, seamless banking experiences.
The signing ceremony took place today on the sidelines of FinTech Forward 2026, where Mr Mohamed Alderazi, Head of Product, Data and AI, signed for Tarabut, while Mr Osama Nasr, Chief Technology Officer, signed on behalf of the Bank.
The collaboration focuses on drawing on the technology infrastructure and software products provided by Tarabut, a regulated fintech provider, to support the development of Khaleeji Bank’s digital banking services. These technologies include open banking connectivity, spending categorisation and income insights, helping the Bank gain a deeper understanding of its customers’ needs and deliver digital services better tailored to them.
Under the MoU, the two organisations will work together to apply these techn capabilities to enhance customer experiences across the Bank’s digital channels, turning financial data into actionable insights that support service development and improve customer engagement. The collaboration aims to enable the Bank to deliver a more connected, user-friendly digital experience that responds to customers’ evolving needs and expectations.
This step reflects Tarabut and Khaleeji Bank’s shared commitment to advancing banking innovation by combining the Bank’s banking expertise with Tarabut’s technology infrastructure. This will support the development of digital services that place the customer experience at their core, while keeping pace with the rapid digital transformation of the financial sector in Bahrain and the wider region.
Commenting on the occasion, Mr Mohamed Alderazi, Head of Product, Data and AI at Tarabut, said: “This partnership builds on our existing relationship with Khaleeji Bank and expands our collaboration to enhance its digital channels and customer experience. Through our open banking and advanced financial analytics technologies, we aim to enable the Bank to make greater use of financial data to deliver more advanced and seamless banking experiences tailored to its customers’ needs.”
Alderazi added: “At Tarabut, we focus on providing the technology infrastructure and software products that help financial institutions develop their digital services. Our capabilities in open banking connectivity, spending categorisation and income insights enable a deeper understanding of customer needs, supporting Khaleeji Bank in translating these insights into tangible improvements to the customer experience across its digital channels.”
On his part, Mr Osama Nasr, Chief Technology Officer at Khaleeji Bank, said: “At Khaleeji Bank, we continue to develop our digital channels to make banking more convenient and better suited to our customers’ needs. Expanding our collaboration with Tarabut enables us to benefit from open banking and financial data analytics technologies to strengthen our understanding of these needs and deliver a more seamless, integrated banking experience across our digital channels.”
He added: “At Khaleeji Bank, we are committed to ensuring that our investments in technology and partnerships translate into improvements in the services our customers use every day. Through this collaboration, we look forward to applying Tarabut’s tech capabilities to develop digital services that are more responsive to our customers’ expectations, supporting the Bank’s continued focus on innovation and enhancing the banking experience.”
This partnership underscores Tarabut’s commitment to equipping financial institutions with the technology infrastructure and products they need to develop their digital services and make greater use of open banking and financial data analytics to enhance customer experiences and support the development of the financial ecosystem in Bahrain and the wider region.
