Fintech services specialists, BENEFIT recently hosted a delegation from Singapore’s Grow Digital Bank, in Bahrain, to explore joint initiatives between the two nations, aimed at forging stronger ties and exchanging knowledge.
The visit marked the country’s ongoing initiative to foster innovation within the financial sector and enhance its position as a financial hub in the region. Over the past few years, financial technology has created an array of opportunities and linkages between the Middle East and South East Asian markets increasing the need for cross-country partnerships and collective efforts.
In 2015, Bahrain became the first country to introduce a real-time fund transfer service in GCC (Gulf Cooperation Council) while it has since emerged as a financial hub with the highest number of financial institutions in the region.
BENEFIT’s CE Abdulwahed AlJanahi said: “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.”
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Image source: Benefit
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