The open banking fintech plans to expand in Saudi Arabia and across the Middle East
Bahrain-based open banking platform Tarabut Gateway has appointed Tariq Sanad as its new chief financial officer.
In his new role, Sanad will focus on supporting the expansion of the fintech in Saudi Arabia, where it recently received an open banking certification from the country’s central bank.
Launched in 2019, Tarabut Gateway provides solutions for banks, lenders and fintechs to build “personalised and streamlined” financial products and apps.
It is building an open banking infrastructure across Saudi Arabi, the UAE and Bahrain, with plans for further expansion across MENA.
Sanad joins the company from Pure Harvest Smart Farms, a tech agribusiness. He has also held roles at consumer goods powerhouse Procter & Gamble and Careem, an app available in the Middle East that offers transport, food and payment services, which was acquired by Uber in 2019 for $3.1b.
Sanad joins the company, following its recent $32m series A funding round, led by Pinnacle Capital and supported by Visa, Tiger Global and Aljazira Capital.
This latest hire follows a number of recent executive appointments at Tarabut Gateway, which has hired a new chief operations officer, product officer and technology officer.
Abdulla Almoayed, founder and chief executive officer at Tarabut Gateway, commented: “It is a pleasure to welcome Tariq to our team at Tarabut Gateway as we universalise open banking across the MENA region.
“His exceptional track record and leadership as a finance and marketing leader gives him deep expertise and insight into the intricacies of a growing business operation.
“Tariq joins as we rapidly expand operations region-wide, further enriching our team of world-class talent.”
Sanad added: “There is nothing quite like the challenges of developing a startup’s original vision into a success story that benefits consumers, businesses and the wider society.
“Open banking is one of the most promising sectors in the region, brimming with opportunities, particularly in Saudi Arabia.”
Image: Tarabut Gateway