Dubai – Sharikat Mubasher: Spare, an Open Finance infrastructure provider, partnered with Tabadulat, a UAE-based online brokerage offering Shariah-compliant investment products, to adopt the ‘Pay by Bank’ feature into its investment platform.
As per a recent press release, the partnership will allow Tabadulat investors to transfer funds directly between their bank and investment accounts through regulated account-to-account payment rails, providing a faster alternative to traditional card-based funding.
The integration is designed to enable near real-time deposits and withdrawals while reducing payment costs and improving access to funds for investors. Spare’s infrastructure also verifies that bank accounts used for deposits and withdrawals match customers’ verified identities, helping reduce fraud risks and support source-of-funds compliance.
Through a single API integration, Spare enables financial institutions and fintech platforms to initiate secure account-to-account payments without managing multiple bank integrations.
Commenting on this, Dalal AlRayes, Co-founder and CEO of Spare, said the partnership reflects the expansion of Open Finance into wealth management, trading and digital asset platforms, where speed and verified sources of funds are increasingly important.
Meanwhile, Samy Mohamad, Co-founder of Tabadulat, said the integration would simplify how investors move funds into their investment accounts while strengthening transaction safeguards.
