BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, hosted a delegation from Singapore’s Grow Digital Bank on Tuesday, January 10th, 2023 at the company’s headquarters, with the aim of exploring joint initiatives between the two nations, forging stronger ties, and exchanging knowledge.

This visit marks an important milestone in the mutual efforts undertaken by parties to facilitate the exchange of information highlighting milestones and achievements when it comes to Fintech solutions and services. This is in line with the Kingdom’s ongoing initiative to foster innovation within the financial sector, further solidifying Bahrain’s prime position as a financial hub and expanding opportunities for financial institutions and FinTech terms in the Kingdom and Singapore.

The visit follows the significant growth of local financial services, which necessitates the development of new plans, initiatives, strategies to increase the efficiency of the sector, drive substantial growth, and boost Bahrain’s global competitiveness.

Over the past few years, Financial Technology has created vast opportunities and linkages between the Middle East and South East Asian markets. The Kingdom of Bahrain and Singapore have been at the forefront of innovation when it comes to the financial services sector allowing for this partnership to grow stronger through collective efforts to provide right regulatory requirements and enhance the quality and competitiveness of services in the financial sector.

On this occasion, BENEFIT’s CE Mr Abdulwahed AlJanahi commented, “I extend a sincere and cordial greeting to Bahrain Economic Development Board (EDB) for facilitating the visit and to the visiting delegates from Singapore, and the BENEFIT team looks forward to constructive exchanges that will lead to successful financial business fruition. This delegation represents a significant and meaningful milestone in the rapidly emerging cooperation between our two markets, particularly in the financial and banking sector. The visit highlighted the breadth of expertise and ambition in Singapore’s corporate environment, and it has bolstered our belief in the reciprocal ties that our cooperation will offer.”