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Kingdom's Payments Core Clears Global Audit
Kingdom's Payments Core Clears Global Audit

Daily Tribune

time22-06-2025

  • Business
  • Daily Tribune

Kingdom's Payments Core Clears Global Audit

TDT | Manama Bahrain's national payments backbone has passed a sweeping international audit with zero flaws, reinforcing its cyber resilience and operational continuity amid rising regional digital risks. BENEFIT, which powers the Kingdom's real-time transfers, debit card switching, and digital payment infrastructure, has secured recertification for two globally recognised standards: ISO 27001:2022 for information security and ISO 22301:2019 for business continuity. The company cleared both audits without a single non-conformity. Vital Infrastructure This clean result carries weight beyond corporate performance. As the operator behind essential services like Fawri+, Fawri, Fawateer, and network ATM services, BENEFIT forms the digital core of Bahrain's financial system. Any failure in its systems would cascade across banks, retailers, consumers, and government agencies. The recertification confirms BENEFIT's alignment with the newest and most stringent ISO protocols. ISO 27001:2022 in particular demands higher levels of leadership accountability, risk-based thinking, and integration of security governance across operations. These are requirements not all fintechs have successfully met. Leadership Speaks Badran Bukamal, Head of Risk Management and Information Security at BENEFIT, called the audit result a milestone built on years of dedication. 'This accomplishment represents the culmination of years of dedication and hard work by our team, who have once again demonstrated their ability to meet and exceed the highest international standards in cybersecurity and operational sustainability.' He added that BENEFIT is committed to remaining ahead of emerging threats and maintaining uninterrupted services for its partners and clients. 'These accreditations reflect our vision to position BENEFIT as a secure and dependable fintech provider, trusted by both customers and partners.' Setting the Benchmark As Gulf nations accelerate their shift toward digital finance, Bahrain's example offers a model of readiness. With rising pressure on financial infrastructure operators to prove resilience, BENEFIT's flawless audit result gives the Kingdom a reputation edge in cybersecurity and business continuity. The company said it would continue investing in future-proof systems to meet growing demands and protect against disruptions, reinforcing the stability of Bahrain's financial ecosystem.

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