Manama, July 14 -- Heralding a new era in Open Banking with the Al Baraka Global API marketplace, Al Baraka Islamic Bank (ABIB) has become the first bank in Bahrain to invite FinTechs from all over the world to test their solutions through this unique platform. This is in line with Al Baraka's strategy that aims at fostering innovation in the era of Open Banking.

In this initiative, Al Baraka Global API portal offers more than 25 APIs directly to third parties. This is a testament of the proactive approach of Al Baraka's open banking strategy instead of a reactive approach - i.e., by going beyond mere compliance with the open banking regulations of the Kingdom of Bahrain that requires banks to open specific APIs to third parties. The por...