---
title: "What is Data sharing (open finance)? | IslamicOpenFinance™"
description: "An open finance service that gives a customer a consolidated view of their data from one or more institutions."
url: https://islamicopenfinance.com/glossary/data-sharing/
lang: en-GB
source: "IslamicOpenFinance"
---

[Glossary](https://islamicopenfinance.com/glossary/) / [Open finance and APIs](https://islamicopenfinance.com/glossary/#open-finance)

Open finance and APIs

# Data sharing (open finance)

An open finance service that gives a customer a consolidated view of their data from one or more institutions.

Data sharing is the open finance service in which a licensed provider retrieves a customer's data from the institutions that hold it and presents it to the customer. The Central Bank of the UAE's Open Finance Regulation defines it as an online service providing a user with consolidated user data relating to accounts or products held with a data holder. It supports uses such as personal finance dashboards, affordability checks and zakat calculations.

## Sources

- [Central Bank of the UAE Rulebook, Open Finance Regulation: Article 1, Definitions, Data Sharing](https://rulebook.centralbank.ae/en/rulebook/open-finance-regulation)

This entry explains a term; it is not a Shariah ruling. Approving a product is for each institution's own Shariah board and regulator.

## Related terms

[**Data holder** The licensed institution that holds a customer's data and must make it available to authorised providers with the customer's consent.](https://islamicopenfinance.com/glossary/data-holder/) [**Consent (open finance)** The customer's explicit, informed permission for a provider to access specified data or initiate a transaction.](https://islamicopenfinance.com/glossary/consent/) [**Open finance** Customer-permissioned sharing of financial data, and initiation of services, by licensed third parties through secure interfaces.](https://islamicopenfinance.com/glossary/open-finance/) [**Zakat** An obligatory annual contribution on qualifying wealth above a minimum threshold, paid to specified categories of recipients.](https://islamicopenfinance.com/glossary/zakat/)

**Open finance and APIs**

1. [Open finance](https://islamicopenfinance.com/glossary/open-finance/)
2. [Application programming interface (API)](https://islamicopenfinance.com/glossary/api/)
3. [Consent (open finance)](https://islamicopenfinance.com/glossary/consent/)
4. [Service initiation](https://islamicopenfinance.com/glossary/service-initiation/)
5. [Data holder](https://islamicopenfinance.com/glossary/data-holder/)
6. [Open finance provider](https://islamicopenfinance.com/glossary/open-finance-provider/)
7. [API hub](https://islamicopenfinance.com/glossary/api-hub/)
8. [Strong customer authentication](https://islamicopenfinance.com/glossary/strong-customer-authentication/)

[All 221 terms](https://islamicopenfinance.com/glossary/)