1. Introduction

This page hosts the Commercial and Pricing Model for Open Finance in the UAE. The model is regulated by CBUAE and is included as part of the AlTareq Standards and therefore is part of the Open Finance Regulations. The intention of making the Commercial and Pricing Model public as part of the Standards is to create a transparent and equal commercial context for TPPs and LFIs to operate within the UAE Open Finance ecosystem.

1.1. Key Dynamics of the Model

Any breach of the Commercial and Pricing model is equivalent to a breach of the CBUAE Open Finance Regulations and as such, any breaching parties will be subject to CBUAE supervision, investigation and enforcement action.

All fees will only be charged for technically successful API calls. All commissions will only be paid subject to successful referrals and the writing of incremental business at the relevant LFI.

All Fees payable by TPPs to LFIs, or LFIs to TPPs are inclusive of VAT. Any required invoicing or VAT payments must be undertaken by the party receiving funds directly. Invoicing and VAT payments or calculations are not the responsibility of CBUAE or Nebras Open Finance. Insurance Brokers (who are TPPs) (or other TPPs / LFIs) may enter into Self Invoicing arrangements with Insurers (or other TPPs / LFIs), in order to facilitate the Commercial and Pricing Model including AlTareq default commissions arrangements; such arrangements will be at the relevant parties’ discretion and are to be discussed and agreed between the two relevant parties directly.

Mutual onboarding of TPPs and LFIs as commercial partners is a mandatory relationship as a result of the Open Finance regulations. Documents and Data to support the onboarding and due diligence of the parties will be made available via the Trust Framework, however, the extent of the due diligence could correspond with the reduced risk as a result of the licensing process at CBUAE, to which all Ecosystem participants are party, in addition to AML and Financial Crime screening.

For Foreign Exchange / Remittance Transactions, executed after a Quote using an AlTareq API within Open Foreign Exchange, the executed rate should be within a range of a maximum of 50 pips (higher or lower) than the relevant quote presented to the customer.

In Open Insurance, the difference between the Quoted premiums and the executed policy cost MUST NOT be larger than 17.5% (higher or lower). Outside of this range, the quote will be considered invalid and the commissions required to be paid by this Model will no longer apply. Customers must continue to meet all of the eligibility requirements (not risk criteria that affect pricing, but binary eligibility criteria) of the insurance policy during the onboarding and validation process with the relevant Insurer, that existed at the time of the quote.

The Quotes provided via Open Finance APIs should match or better those available for the same or equivalent product, from the same LFI via other channels.

This Model may require LFIs and TPPs to enter into Direct Debit or other AlTareq based consents for payments with Nebras in order to facilitate collection arrangements.

This model shall be reviewed by CBUAE annually, in conjunction with Nebras Open Finance LLC’s Board and their Ecosystem Engagement.

1.2. CBUAE LFI Fees

LFIs may be charged Supplemental License Fees as part of being included within the mandated scope of the Open Finance Regulation, these will be charged and collected by CBUAE only.

1.3. CBUAE TPP Fees

CBUAE will charge TPP Open Finance license holders fees for their license, when they reach certain thresholds of ongoing, consented relationships with their customers. These fees will not apply to deemed license holders. They will be charged and collected on an annual basis in arrears by CBUAE.

• More than 50,000 ongoing, consented connection with customers, 20,000 AED per year.

• More than 100,000 ongoing, consented connections with customers, 100,000 AED per year.

The number of customers will be calculated on an annual average basis, using active consented connections.

1.4. Nebras Open Finance Charged Fees

The Nebras operated API Hub will charge TPPs fees based on their consumption of API calls from the API Hub. The fees vary across API types, ranging from 2.5 to 12.5 fils.

These fees are charged, invoiced and collected by Nebras Open Finance LLC.

1.5. AlTareq Scheme Fees

TPPs will pay LFIs for the successful use of certain APIs. Nebras Open Finance will generally calculate and collect these fees based on the Commercial and Pricing model, on behalf of LFIs. These fees are designed to compensate above the level of the LFI’s marginal cost for each API call, for the certain components of Open Finance functionality.

LFIs will pay TPPs for the successful use of certain APIs, often determined by the successful outcome of a referral of business from the TPP. Nebras Open Finance will generally calculate and collect these fees based on the Commercial and Pricing model, on behalf of TPPs. These fees are designed to compensate for the efforts of TPPs in acquiring business or making referrals to LFIs.

1.6. AlTareq End User Pricing

TPPs can charge fees to their customers, the End Users of the AlTareq APIs. Generally, this pricing is not determined by the Commercial and Pricing model, however, there are certain contexts in which the pricing is capped or determined for the ecosystem and its TPPs. These constraints are designed to protect end users and provide fairness across the value chain.

1.7. Nebras Open Finance Collections

To enable the operational execution of the Commercial and Pricing model, participants within the Ecosystem may be required to provide bank account details and consents / approvals for Direct Debit mandates or Variable On Demand AlTareq payments in favor of Nebras. LFIs and TPPs MUST comply with the collections requirements of Nebras Open Finance.

2. Open Banking

2.1. Service Initiation – Retail and SME Customers

This section relates to all domestic payment options as part of Service Initiation APIs within the AlTareq Open Finance Standards for Retail and SME Customers.

In accordance with the API Charging table below, Service Initiation APIs will generally be charged at 2.5 fils per API call.

If a payment transaction occurs within 2 hours of a Balance API Call or a Confirmation of Payee Call, both the Balance API Call and the Confirmation of Payee Call will be charged at 0.5 fils each. For clarity, one payment will create the discount for only one Balance and only one Confirmation of Payee Call.

Conditions:

1. LFIs are prohibited from imposing any other charges or additional charges to Retail or SME end users for transactions initiated by Open Finance APIs related to service initiation. However, charges for non Open Finance API-initiated payments may be applied according to the product tariff agreed with the customer.

2. The fees above will remain the same, whether the payment is settled through Aani Core or an alternate payment rail.

2.2. Service Initiation – Corporate Customers

This section relates to all domestic payment options as part of Service Initiation APIs within the AlTareq Open Finance Standards for Corporate Customers (with a turnover exceeding 100m AED per year).

In accordance with the API Charging table below, Service Initiation APIs will generally be charged at 2.5 fils per API call.

If a payment transaction occurs within 2 hours of a Balance API Call or a Confirmation of Payee Call, both the Balance API Call and the Confirmation of Payee Call will be charged at 0.5 fils each.

Conditions:

1. LFIs are prohibited from imposing any other charges or additional charges to Corporate end users for transactions initiated by Open Finance APIs related to service initiation. However, charges for non Open Finance API-initiated payments may be applied according to the product tariff agreed with the customer.

2. The fees above will remain the same, whether the payment is settled through Aani Core or an alternate payment rail.

 2.3. Data Sharing – Retail and SME Customers

This section relates to all options as part of Data Sharing APIs within the AlTareq Open Finance Standards for Retail and SME Customers.

2.3.1. API Hub Fees

In accordance with the API Charging table below, Data Sharing APIs will generally be charged at 2.5 fils per API call.

2.3.2. Fees payable by TPPs to LFIs

Conditions:

1. A page is defined as 100 lines of transactional data, with a maximum age span of 13 months per call. An API call is charged per page. If an API call returns more than 100 lines of transactional data, it will be considered as multiple pages and therefore multiple calls, it will be charged accordingly.

2. LFIs are prohibited from imposing any other charges or additional charges to Retail and SME end users for Data Sharing via Open Finance APIs.

2.4. Data Sharing – Corporate Customers

This section relates to all options as part of Data Sharing APIs within the AlTareq Open Finance Standards for Corporate Customers.

In accordance with the API Charging table below, Data Sharing APIs will generally be charged at 2.5 fils per API call.

Conditions:

1. A page is defined as 100 lines of transactional data, with a maximum age span of 13 months per call. An API call is charged per page. If an API call returns more than 100 lines of transactional data, it will be considered as multiple pages and therefore multiple calls, it will be charged accordingly.

2. LFIs are prohibited from imposing any other charges or additional charges to Corporate end users for Data Sharing via Open Finance APIs.

2.5. Quotes – Retail Customers

This section relates to all options as part of Quotes APIs within the AlTareq Open Finance Standards for Retail Customers.

Quotes APIs will be charged at the following levels, depending on the number of quotes returned by relevant LFIs:

• 5 fils – up to 4 entities providing quotes

• 7.5 fils – up to 10 entities providing quotes

• 10 fils – up to 25 entities providing quotes

• 12.5 fils – more than 25 entities providing quotes

Conditions:

1. LFIs are prohibited from imposing any other charges or additional charges to Retail end users for Quotes via Open Finance APIs.

3. Open Insurance

3.1. Data Sharing – Retail Customers

This section relates to all options as part of Data Sharing APIs within the AlTareq Open Finance Standards for Retail Customers.

In accordance with the API Charging table below, Data Sharing APIs will generally be charged at 2.5 fils per API call.

Conditions:

1. LFIs are prohibited from imposing any other charges or additional charges to Retail end users for Data Sharing via Open Finance APIs.

3.2. Quotes – Retail Customers

This section relates to all options as part of Quotes APIs within the AlTareq Open Finance Standards for Retail Customers.

Quotes APIs will be charged at the following levels, depending on the number of quotes returned by relevant LFIs:

• 5 fils – up to 4 entities providing quotes

• 7.5 fils – up to 10 entities providing quotes

• 10 fils – up to 25 entities providing quotes

• 12.5 fils – more than 25 entities providing quotes

Conditions:

1. LFIs are prohibited from imposing any other charges or additional charges to Retail end users for Quotes via Open Finance APIs.

Conditions:

1. * 10% of the year one premium’s related commission cannot exceed 10% of the annual premiums multiplied by the number of years of the policy’s term. If the premiums are paid upfront for the whole policy,  in a single payment, then the maximum commission must also be 10%.

2. ** For employed persons, who earn less than 4,000 AED in Dubai, per month, commissions will be capped at 5%. For employed persons, who earn less than 4,000 AED in Abu Dhabi, per month, commissions will be capped at 5%. For employed persons, who earn less than 4,000 AED in Other Emirates, per month, commissions will be capped at 5%.

3. AlTareq default commissions will not be paid until after 30 days have passed since the Insurance policy has been sold. Accordingly, cool-off and free-look periods will have already passed, and therefore commissions can be stopped from being paid if policies have been cancelled.

4. AlTareq default commissions that are subject to clawback, due to policy cancelation within the first 5 years, of a life assurance policies and 2 years for all other types of insurance, will be supported by the AlTareq dispute management process. The two relevant parties will be engaged to reach a resolution, with the principle to be applied that the unused period of the insurance policy and the related commission, in proportion to the total tenure of the policy, can be refunded. E.g. a cancellation 1 year into a 10 year policy would result in a 90% refund of the paid commission.

5. There is no requirement for a direct contractual relationship between brokers (who are also TPPs) and insurers to receive AlTareq default commissions, the indirect relationship between TPP (Broker) and Nebras and Insurer and Nebras will negate the need for a direct relationship. As this relationship is mandated, the level of due diligence, onboarding and risk assessment that Insurers might normally apply to their broker relationships will not be required, given the due diligence, screening and licensing assessments conducted by CBUAE for TPP-Brokers.

6. For TPP-Brokers who have existing bilateral commercial agreements with Insurers at the announcement of this Commercial and Pricing Model in November 2025, these arrangements MUST be maintained, on the same terms, for two years after the launch of Open Insurance in March 2026 (subject to Tier 1 Insurers meeting their API delivery obligations). This will only apply to TPP-Brokers who obtain a TPP license during the first two years after the launch of Open Insurance. This is a requirement in order to maintain the status quo operation of the market, whilst the Implementation of Open Insurance is ongoing. Any bilateral commercial agreements between the consultation on Open Insurance’s Commercial and Pricing Model and November 2025, may also be in scope to be retained in place for two years, on a case by case basis, if it is considered that their cancellation has artificially inhibited the status quo operation of the relevant TPP-Broker / Insurer market.

4. Open Foreign Exchange

4.1. Service Initiation – Retail and SME Customers

This section relates to all foreign exchange and remittance options as part of Service Initiation APIs within the AlTareq Open Finance Standards for Retail and SME Customers.

In accordance with the API Charging table below, Service Initiation APIs will generally be charged at 2.5 fils per API call.

Conditions:

1. LFIs are NOT prohibited from imposing charges to Retail end users for Service Initiation functionality, fees may be applied according to the product tariff agreed with the customer.

Conditions:

1. LFIs can directly charge end customers for Foreign Exchange and Remittance transactions according to the product tariff agreed with the customer. TPPs can directly charge the End Customer the stated fees, in addition to the LFI charged fees.

4.2. Data Sharing – Retail Customers

This section relates to all options as part of Data Sharing APIs within the AlTareq Open Finance Standards for Retail Customers.

In accordance with the API Charging table below, Data Sharing APIs will generally be charged at 2.5 fils per API call.