Latest news with #FSHorizons
Daily Tribune
10-07-2025
- Business
- Daily Tribune
BENEFIT Sharpens Bahrain's Fintech Edge with AI
TDT| Manama Bahrain's national payments leader BENEFIT has unveiled a bold AI-driven roadmap for 2025-2026, signalling a strategic push to reinforce the Kingdom's fintech leadership with cutting-edge payment services and SME-first innovations. Announced during the Central Bank of Bahrain's 'FS Horizons: Doubling Down on Digital' event, the new strategy prioritises secure, efficient, and inclusive financial infrastructure while integrating artificial intelligence, data monetisation, and cross-border interoperability. AI and SME focus Among the key pillars of the plan are partnerships with artificial intelligence firms to enhance payment systems, customised tools for small and medium-sized enterprises, and expansion of real-time international payment capabilities through regional collaborations. BENEFIT also aims to drive regional competitiveness by enhancing its data monetisation strategy and delivering seamless customer experiences that adapt to evolving financial behaviour. Regional ambitions The strategy includes a strong international component, with the company preparing to launch its services in select overseas markets. This move is expected to position Bahrain as an exporter of fintech infrastructure and innovation. During the announcement, Ms. Shafaq Al Kooheji, Assistant General Manager of Payment Services at BENEFIT, said the roadmap builds on Bahrain's strong digital base. She highlighted a major milestone from 2024, with instant payment usage reaching 23 transactions per person per month. Future outlook Mr. Abdulwahed AlJanahi, Chief Executive of BENEFIT, said the new strategy reflects the company's commitment to advancing Bahrain's digital financial landscape while fostering a cashless economy and nurturing fintech talent. He emphasised the importance of an integrated ecosystem tailored to both individual and institutional needs. The roadmap's rollout is expected to bolster Bahrain's fintech credentials and inspire further digital transformation across the region.
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.
Zawya
07-07-2025
- Business
- Zawya
Bahrain sees robust pipeline of financial institutions, 16 licences approved
The Central Bank of Bahrain (CBB) has reported a significant increase in financial institution licensing, with 16 new financial firms approved and 52 additional applications underway from early 2024 through mid-2025. This surge highlights Bahrain's growing appeal as a destination for digital-first financial services, with nearly 75% of the 68 applications coming from international applicants, said CBB in a statement. The influx is expected to create over 850 jobs initially, with more opportunities anticipated as newly licensed firms scale their operations, it stated. According to CBB, the licence applications span a diverse range of categories, including wholesale banks, payments, investment services, insurance, and crypto-asset services. This diverse portfolio reasserts Bahrain as a hub for financial innovation and solidifies its reputation as a competitive launchpad for regional and international firms. Notably, 16 applicants have been licensed during this period, including two wholesale banks, with additional bank license applications currently in the pipeline. The CBB continues to work closely with the remaining applicants to support them in meeting the licensing requirements. The CBB announced this 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. On the strategic move, Khalid Humaidan, Governor of the Central Bank of Bahrain, said: "This increase in licensing applications reflects the CBB's dual mandate of ensuring stability while fostering growth, and underscores the strength of our regulatory framework and the kingdom's unique ability to attract innovation without compromising financial stability." "This achievement is the result of close collaboration with our partners across government and industry, and reaffirms Bahrain's role as a gateway for regional and global growth in financial services," he stated. "Central to this success is the CBB's unified regulatory model, which provides licensees with a single point of contact across all financial sub-sectors. This model eliminates conflicting requirements from multiple authorities, streamlines compliance, and offers consistent oversight," he added. -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
