Spare has partnered with Tabadulat, a UAE-based Shariah-compliant online brokerage, to integrate its Pay-by-Bank solution into Tabadulat’s investment platform, the companies announced on 12 August 2026. The integration lets Tabadulat’s investors move money between their bank and investment accounts over regulated Open Finance rails, in place of card-based funding.
What the integration covers
| Detail | Description |
|---|---|
| What’s new | Pay-by-Bank funding and withdrawals inside Tabadulat’s investment platform |
| Mechanism | Regulated account-to-account (A2A) payments over Open Finance rails, via a single API integration |
| Replaces | Card-based funding for deposits and withdrawals |
| Compliance layer | Spare verifies that deposit and withdrawal accounts match a customer’s verified identity, supporting fraud reduction and verified-source-of-funds requirements |
| Speed | Near real-time settlement, versus card-processing delays |
Dalal AlRayes, Spare’s co-founder and chief executive, said:
“We’re seeing Open Finance move beyond traditional payment use cases into wealth, trading, and digital asset platforms. Pay by bank can improve the funding experience where speed and verified source of funds matter.”
Samy Mohamad, Tabadulat’s co-founder, said,
“The integration will help investors “move funds directly between their bank and investment accounts with greater speed and ease, while strengthening the safeguards behind every transaction.”
Who Tabadulat is
Tabadulat was founded in 2024 by Samy Mohamad, formerly of Morgan Stanley; Ali Abdulkadir Ali, formerly of Wahed Invest; and Ahmed Said, formerly of Nomo Bank. The platform offers Shariah-compliant US stocks with zero commission, halal exchange-traded funds and Commodity Murabaha savings products, and holds , the Bahrain-based standard-setting body for Islamic finance.
The company received in-principle approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market in 2025, and secured its full FSRA licence, as a Category 3A entity, in December 2025. Tabadulat’s total committed capital stands at $3.3 million.
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Extending an existing pattern
The Tabadulat deal is Spare’s third UAE partnership disclosed this year. Spare’s Pay-by-Bank infrastructure already runs rental payments through a partnership with property platform Rewa, and business payments through a partnership with Xsquare. Spare operates across Saudi Arabia, Bahrain, the UAE and Kuwait.
The commercial logic is worth stating plainly: Tabadulat runs a zero-commission trading model, meaning its margin rests on costs such as payment processing rather than trade fees. A payment rail with lower per-transaction cost than card networks bears directly on that economics, though neither company has disclosed how much the switch actually saves Tabadulat, or what portion of its funding volume currently runs through cards versus bank transfers.
