Open Banking in Middle East & Africa

Nigeria has established a regulatory framework for open banking through the Central Bank of Nigeria, with a tiered data-sharing model covering product information, customer data, and payments.

CBN Regulatory Framework for Open Banking in Nigeria (2021)

Bahrain was a regional pioneer in open banking, with the Central Bank of Bahrain establishing a formal framework and API standards as part of its fintech development strategy.

CBB Open Banking Framework and Rulebook Module

Saudi Arabia launched its SAMA-led open banking framework in 2022-2023 as part of Vision 2030 financial sector modernization, with account information and payment initiation now live.

SAMA Open Banking Policy and Framework

The UAE launched its open finance framework through the Al Etihad Credit Bureau in 2023, with an ambitious scope covering banking, credit data, and insurance.

AECB Open Finance Regulations

Jordan has launched an open banking framework through the Central Bank of Jordan, establishing API standards and licensing requirements for data sharing and payment initiation.

CBJ Open Banking Framework

Kenya is developing an open banking framework through the Central Bank of Kenya, building on its world-leading mobile money ecosystem centered around M-Pesa.

CBK Open Banking Framework (under development)

South Africa is developing open finance through the SARB and IFWG, with POPIA providing the data protection foundation and a phased implementation roadmap.

POPIA (Protection of Personal Information Act) / Open Finance Roadmap

Ghana is developing an open banking framework through the Bank of Ghana, building on its active mobile money ecosystem and growing fintech sector.

Bank of Ghana Open Banking Framework

Egypt is developing open banking regulations through the Central Bank of Egypt as part of its national financial inclusion and digital transformation strategy.

CBE Open Banking Regulations (under development)

Morocco is planning open banking development under Bank Al-Maghrib, aiming to modernize its financial sector and expand financial inclusion across North Africa.

Tunisia is exploring open banking regulation through the Banque Centrale de Tunisie as part of its broader financial digitalization and inclusion strategy.

Rwanda is planning open banking development under the National Bank of Rwanda, aligned with the country's ambitious digital transformation and smart Africa agenda.

Tanzania is exploring open banking through the Bank of Tanzania, building on its established mobile money ecosystem and interoperability achievements.