The Central Bank of Bahrain (CBB) granted a new Class 2 Investment Company license to Beyon Money, part of the Beyon Group, based on a decision issued by CBB Governor Mr. Rasheed Mohammed Al-Mara, enabling the Company to offer a range of new services to clients.

Roberto Mancone, CEO of Beyon Money said, “We extend our appreciation to Mr. Al-Maraj and the Central Bank of Bahrain for their ongoing invaluable support. The new license enables us to introduce exciting new products for our customers in the near future.”

He added, ”We are committed to continuously enhancing the Beyon Money Super App, providing customers with Cards, remittances, Open Banking, Personal Financial management and more. With the addition of the  Class 2 Investment license, Beyon Money is the only Fintech in Bahrain that facilitates a suite of services for everyday financial requirements with 6 different licenses granted by the CBB.”

Beyon Money was launched in January 2022 to operate in Bahrain through 3 Financial Services Regulated Entities by the Central Bank of Bahrain which include Batelco Financial Services, Batelco Remittance Services, and Beyon Money Investments. In the first 5 months of 2023, it achieved significant growth equal to 6 times the volume of domestic and international payments and 10 times the number of customers compared to the same period in 2022.

Source: Gulf Insider