Latest news with #BahrainiDinar
Zawya
9 hours ago
- Business
- Zawya
Damisa launches local payment rails and on/off-ramp services across six GCC markets
MIDDLE EAST – Damisa, the orchestration network transforming how businesses move money and data globally, has announced the official launch of local payment rails and on/off-ramp services across six Gulf Cooperation Council (GCC) markets. This marks a major step forward in simplifying access to the digital economy for businesses and individuals in the region. Effective immediately, partners can enable instant, frictionless transactions in native GCC currencies - directly through local bank accounts - removing traditional cross-border complexities and banking delays. The supported currencies include: Bahraini Dinar (BHD) Omani Rial (OMR) Qatari Riyal (QAR) Saudi Riyal (SAR) UAE Dirham (AED) Kuwaiti Dinar (KWD) With this launch, Damisa strengthens its position as a key enabler of cross-border commerce and financial innovation in the region - helping clients operate faster, more securely, and more efficiently. 'This is a foundational step in our mission to simplify asset and data transfers globally,' said Jordan Lawrence, CEO and Co-Founder of Damisa. 'By integrating directly with local financial systems across the GCC, we're removing the friction that has historically slowed down international payments. Traditional cross-border banking can be costly, time-consuming, and opaque - especially for businesses operating across multiple jurisdictions. Our new infrastructure solves that. With local payment rails and on/off-ramp capabilities in place, we're enabling our partners to transact in native currencies instantly, without the delays, high FX fees, or compliance headaches typically associated with cross-border transactions. It's a game-changer for how businesses in sectors like real estate, travel, education, and e-commerce operate across the region. This launch is not just about access - it's about empowerment. We're helping local and international businesses unlock new markets, streamline operations, and fully participate in the digital economy with speed, transparency, and trust. ' In addition to local rails, Damisa's platform provides a full-stack solution for global financial operations: Cross-Border Payments: Settle cross-border payments rapidly with reduced fees, automated AML processes, and no more banking delays. Global Collections: Accept payments worldwide - fiat or crypto - in local currencies with seamless reconciliation and real-time visibility. Global Payouts: Disburse payouts globally in fiat or crypto with minimal FX costs and no hidden fees. Escrow Services Secure, automated escrow with customizable terms for milestone-based or high-value transactions. These ensure funds are only released when conditions are met - ideal for real estate, education, B2B contracts, and more. These services are delivered through Damisa Connect, an API-driven gateway giving clients access to local partners and the ability to transact in over 25 currencies with full compliance and such as real estate, education, and travel are already leveraging Damisa to improve operational efficiency, automate settlement, and scale faster in emerging and frontier markets. About Damisa Damisa is an orchestration network built to streamline the global transfer of assets and data, especially across emerging markets. The platform offers secure, automated escrow services with customizable settlement terms. Through Damisa Connect, businesses can integrate via API to access local partners, process global payments in over 25 currencies, and bypass the delays of traditional banking systems. From cross-border transactions to global collections and payouts, Damisa is building the financial infrastructure for the next generation of borderless business. Media Contact: hello@
Fintech News ME
10-07-2025
- Business
- Fintech News ME
Bahrain Introduces Regulatory Framework for Stablecoin Issuers
The Central Bank of Bahrain (CBB) has introduced a regulatory framework for licensing and overseeing stablecoin issuers, aimed at supporting the secure integration of stablecoins into the financial system. Under the new guidelines, licensed issuers may offer single-currency stablecoins backed by the Bahraini Dinar (BHD), United States Dollar (USD), or other fiat currencies approved by the CBB. The framework is designed to address the risks posed by unregulated stablecoins and create a safer, more transparent environment that supports investor confidence and sector stability. Mohamed Al Sadek, Executive Director of Market Development at the CBB, said, 'By encouraging the development and adoption of innovative financial technologies, the CBB aims to enhance Bahrain's position as a leading financial hub in the MENA region. This milestone reflects the pioneering role the CBB continues to play in overseeing the crypto-asset market and ensuring that the Kingdom's financial services landscape is equipped for future developments.' The announcement was made during the FS Horizons: Doubling Down on Digital event, hosted in partnership with the Bahrain Economic Development Board, where industry leaders gathered to highlight Bahrain's advancements in digital banking, payments infrastructure, and talent development.
Biz Bahrain
06-07-2025
- Business
- Biz Bahrain
Central Bank of Bahrain Issues Framework for Regulating Stablecoin Issuance
The Central Bank of Bahrain (CBB) announced the introduction of a framework for licensing and regulating stablecoin issuers, aimed at ensuring the safe and sound integration of stablecoins into the financial system. Under the new stablecoin regulation, licensed stablecoin issuers are permitted to issue single currency stablecoins backed by Bahraini Dinar (BHD), United States Dollar (USD), or any other fiat currency acceptable by the CBB. Furthermore, the new regulation aims to mitigate the risks associated with the use of unregulated stablecoins, and ensure a safer and more secure ecosystem, fostering investor confidence and promoting sustainable growth within the sector. Commenting on the new regulations, Mr. Mohamed Al Sadek, Executive Director of Market Development at CBB said: 'By encouraging the development and adoption of innovative financial technologies, the CBB aims to enhance Bahrain's position as a leading financial hub in the MENA region. This milestone reflects the pioneering role the CBB continues to play in overseeing the crypto-asset market and ensuring that the Kingdom's financial services landscape equipped for future developments.' Mr. Ali Haroon AlAamer, Director – Capital Markets Supervision Directorate, said: 'This initiative underscores the CBB's unwavering commitment to integrating crypto-related activities within its regulatory framework and ensuring they are subject to comprehensive oversight. It also highlights the CBB's dedication to providing robust investor protection measures and maintaining a transparent crypto asset market.' The announcement was made during the FS Horizons: Doubling Down on Digital event, hosted in partnership with the Bahrain Economic Development Board, where industry leaders gathered to highlight Bahrain's advancements in digital banking, payments infrastructure, and talent development. The new 'Stablecoin Issuance and Offering (SIO) Module' can be found in Volume 6 (Capital Markets) of the CBB Rulebook on CBB's website
Daily Tribune
09-05-2025
- Business
- Daily Tribune
BisB introduces multicurrency card
Bahrain Islamic Bank (BisB) has introduced a new Visa Multi-Currency Prepaid Card, offering a seamless and cost-effective way for customers to spend internationally. The card enables payments in six currencies: Bahraini Dinar, US Dollar, British Pound, Euro, Emirati Dirham, and Saudi Riyal. The new product is aimed at travellers, online shoppers, and professionals who manage financial commitments across borders. Digital Tools Cardholders benefit from transparent conversion rates and real-time spending controls. All activity can be tracked via the BisB Mobile App, which also allows users to top up funds and switch between currencies as needed. Faisal Al Abdulla, Chief Retail Banking Officer at BisB, said the card was designed to meet growing demand for 'frictionless global transactions,' and combines flexibility with user control and security. Secure Spending The card also includes advanced security features, making it suitable for travel and everyday use abroad. The launch marks another step in BisB's shift toward digital-first banking tools that support the evolving lifestyles of its customer base. Applications can be submitted via the BisB Mobile App, by visiting a branch, or by calling 17515151.
Indian Express
26-04-2025
- Business
- Indian Express
Top 10 highest-valued currencies in the world in 2025
Top 10 Highest valued currency in the world in Rupees: The United Nations officially recognises 180 currencies used across 195 countries. While widespread use and popularity are common traits among many currencies, they don't always correlate with their value or strength. True currency strength lies in purchasing power: the quantity of goods, services, or foreign currency a single unit can secure. A range of local and global factors determine a currency's value, including supply and demand in foreign exchange markets, inflation rates, domestic economic performance, central bank policies, and the overall economic stability of the issuing country. This list highlights the world's 10 strongest currencies and explores the elements behind their impressive valuations. Rank Currency Symbol Value in INR Value in USD 1. Kuwaiti Dinar KWD 278.41 3.26 2. Bahraini Dinar BHD 226.43 2.65 3. Omani Rial OMR 221.65 2.60 4. Jordanian Dinar JOD 120.33 1.41 5. Gibraltar Pound GIP) 113.53 1.33 6. British Pound GBP 113.53 1.33 7. Cayman Islands Dollar KYD 102.49 1.20 8. Swiss Franc CHF 103.34 1.21 9. Euro EUR 97.01 1.14 10. United States Dollar USD 85.34 1.00 Note: The exchange rates are subject to change and the values are based on the recent exchange rates as per Google Finance. Kuwaiti Dinar (KWD) Kuwaiti Dinar (KWD) (Source: iStock) Introduced on April 1, 1961, the Kuwaiti Dinar (KWD) remains the most valuable currency globally. As Kuwait's official currency, the Dinar's strength stems from the country's massive oil wealth, economic stability, and tax-free environment. The KWD is particularly well-known among Indian expatriates, who closely monitor the INR to KWD exchange rate. Bahraini Dinar (BHD) Bahraini Dinar (BHD) (Source: Getty Images) The Bahraini Dinar (BHD), introduced on October 7, 1965, is Bahrain's official currency. The nation's oil-export-driven economy and the BHD's peg to the US Dollar have given it notable stability. A significant expatriate population, particularly from India, also supports the BHD's standing as the second most valuable currency in the world. Omani Rial (OMR) Omani Rial (OMR) (Source: Shutterstock) The Omani Rial (OMR) serves as the official currency of Oman. Before adopting the Rial, Oman used Indian rupee for its monetary needs. The country's substantial oil reserves play a crucial role in its economy, making the energy sector its primary driver. Pegged to the US Dollar, the Omani Rial holds its position as the third highest-valued currency globally. Jordanian Dinar (JOD) Jordanian Dinar (JOD) (Source: iStock) The Jordanian Dinar (JOD) became the official currency of Jordan when it replaced the Palestinian pound in 1950. Thanks to the country's stable fixed exchange rate system and a diversified economic structure, the Dinar has maintained a strong position on the global stage, ranking as the fourth highest-valued currency in the world. Gibraltar Pound (GIP) Gibraltar Pound (GIP) (Freepik) The Gibraltar Pound (GIP) serves as the official currency of Gibraltar. It maintains a fixed 1:1 exchange rate with the British Pound Sterling (GBP). As a British overseas territory, Gibraltar's economy relies heavily on industries such as tourism and e-gaming. The GIP ranks as the fifth strongest currency in the world. British Pound (GBP) British Pound (GBP) (iStock) The British Pound (GBP) is the official currency of Great Britain and is also widely circulated in several other regions and territories. Ranked as the sixth strongest currency in the world, the Pound holds a crucial role in international finance. Its value is bolstered by London's position as a leading global financial hub and by Britain's robust trade activities. Cayman Islands Dollar (KYD) Cayman Islands Dollar (KYD) (Freepik) The Cayman Islands Dollar (KYD) is the official currency of the Cayman Islands, introduced in 1972 after the territory transitioned from using the Jamaican Dollar. Despite ranking seventh in terms of the strongest currencies, it holds the fifth highest value globally. The Cayman Islands' financial prominence, driven by its status as a tax haven, helps maintain the high value of the KYD. Swiss Franc (CHF) Swiss Franc (CHF) (iStock) The Swiss Franc (CHF), introduced on May 7, 1850, is the official currency of Switzerland and Liechtenstein. Switzerland, renowned for its economic stability, is considered one of the wealthiest nations globally. The strength of the Swiss Franc reflects the country's robust financial system and its position as a major global economic player. Euro (EUR) Euro (EUR) (Shutterstock) The Euro (EUR), introduced on January 1, 1999, serves as the official currency for 20 member states of the European Union. It is the second-largest reserve currency globally and ranks as the second-most traded currency in the world. As one of the strongest currencies, the Euro secures its position in 9th place among the highest-valued currencies. United States Dollar (USD) United States Dollar (USD) (Shutterstock) The United States Dollar (USD) is the official currency of the United States and is also used by 11 other countries. As the most traded currency worldwide, the USD holds a dominant role as the primary reserve currency. However, despite its global significance and widespread use, it ranks 10th in terms of strength among the world's highest-valued currencies.
