Central Bank of Bahrain

Leading Industry Experts Set to Convene for Bahrain's Fintech Forward 2023

Retrieved on: 
Thursday, September 21, 2023
Fintech, BFB, Partnership, Life, CBB, Insurance, Central bank, Onyx, Innovation, MIT, Parable of those who associate partners with God, Visa, Information technology consulting, Partner, The Economist, Hearing, Central Bank of Bahrain, CFO, Development, Next Generation, Investment, Cryptocurrency, Creative industries

MANAMA, Bahrain, Sept. 21, 2023 /PRNewswire/ -- Bahrain is gearing up to host the inaugural Fintech Forward 2023 (FF23) where the first day, October 11, 2023, will be programmed by Economist Impact.

Key Points: 
  • MANAMA, Bahrain, Sept. 21, 2023 /PRNewswire/ -- Bahrain is gearing up to host the inaugural Fintech Forward 2023 (FF23) where the first day, October 11, 2023, will be programmed by Economist Impact.
  • The lineup includes a number of fintech and financial services consultancy players, including household names like Onyx by J.P.Morgan, Volt, MIT and Visa.
  • I am greatly looking forward to hearing about how our panel is faring in this race."
  • FF23 is set to host an exceptional lineup of industry pioneers for its second day.

Leading Industry Experts Set to Convene for Bahrain's Fintech Forward 2023

Retrieved on: 
Thursday, September 21, 2023
Fintech, BFB, Partnership, Life, CBB, Insurance, Central bank, Onyx, Innovation, Multimedia, MIT, Parable of those who associate partners with God, Visa, Information technology consulting, Partner, The Economist, Hearing, Central Bank of Bahrain, CFO, Development, Next Generation, Investment, Cryptocurrency, Creative industries

MANAMA, Bahrain, Sept. 21, 2023 /PRNewswire/ -- Bahrain is gearing up to host the inaugural Fintech Forward 2023 (FF23) where the first day, October 11, 2023, will be programmed by Economist Impact.

Key Points: 
  • MANAMA, Bahrain, Sept. 21, 2023 /PRNewswire/ -- Bahrain is gearing up to host the inaugural Fintech Forward 2023 (FF23) where the first day, October 11, 2023, will be programmed by Economist Impact.
  • The lineup includes a number of fintech and financial services consultancy players, including household names like Onyx by J.P.Morgan, Volt, MIT and Visa.
  • I am greatly looking forward to hearing about how our panel is faring in this race."
  • FF23 is set to host an exceptional lineup of industry pioneers for its second day.

AM Best Affirms Credit Ratings of Saudi Arabian Insurance Co B.S.C. (c)

Retrieved on: 
Monday, July 24, 2023
Consulting, Professional Services, Insurance, Finance, Good, AM Best, Investment, ALL, ERM, Central bank, BHD, Credit, GWP, Central Bank of Bahrain, AM, Growth, News, United Arab Emirates, Risk management, Cryptocurrency, Mawarid Finance

AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Saudi Arabian Insurance Company B.S.C.

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Saudi Arabian Insurance Company B.S.C.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

Bank ABC's 'ABC Labs' named as one of the World's Best Financial Innovation Labs by Global Finance

Retrieved on: 
Wednesday, June 7, 2023
Cloud, Heart, Fintech, Editing, Central Bank of Bahrain, Digital, CBB, Chicago Innovation Awards, Data analysis, Central bank, Financial system, Global Finance (magazine), Digital transformation, ABC, Supply chain finance, Growth, AI, Bank, Supply, Labs, Cryptocurrency, Blockchain

MANAMA, Bahrain, June 7, 2023 /PRNewswire/ -- Bank ABC has won two distinguished awards at Global Finance's much-coveted The Innovators Awards -2023. The Bank's innovation and digitisation centre, ABC Labs, has been named as one of "the World's Best Financial Innovation Labs", a recognition given to leading financial innovation labs that are driving the digital revolution in the global banking industry. With its ground-breaking initiatives and a forward-thinking, agile innovation approach, ABC Labs was commended for driving transformative change in the region and beyond.

Key Points: 
  • The international banking group was honoured by world's leading tech and finance experts, for its 'Top Innovations in Finance' and as one of 'World's Best Financial Innovation Labs.'
  • The Bank's innovation and digitisation centre, ABC Labs, has been named as one of "the World's Best Financial Innovation Labs", a recognition given to leading financial innovation labs that are driving the digital revolution in the global banking industry.
  • ABC Labs, led by Bank ABC's Group Innovation function, was launched in 2019 and operates from a cutting-edge facility, with state-of-the-art digital tools.
  • ABC Labs excelled across the selection criteria and emerged as a winner of the Financial Services Company Labs category.

Bank ABC's 'ABC Labs' named as one of the World's Best Financial Innovation Labs by Global Finance

Retrieved on: 
Wednesday, June 7, 2023
Cloud, Heart, Fintech, Editing, Central Bank of Bahrain, Digital, CBB, Chicago Innovation Awards, Data analysis, Central bank, Financial system, Global Finance (magazine), Digital transformation, ABC, Supply chain finance, Growth, AI, Bank, Supply, Labs, Cryptocurrency, Blockchain

MANAMA, Bahrain, June 7, 2023 /PRNewswire/ -- Bank ABC has won two distinguished awards at Global Finance's much-coveted The Innovators Awards -2023. The Bank's innovation and digitisation centre, ABC Labs, has been named as one of "the World's Best Financial Innovation Labs", a recognition given to leading financial innovation labs that are driving the digital revolution in the global banking industry. With its ground-breaking initiatives and a forward-thinking, agile innovation approach, ABC Labs was commended for driving transformative change in the region and beyond.

Key Points: 
  • The international banking group was honoured by world's leading tech and finance experts, for its 'Top Innovations in Finance' and as one of 'World's Best Financial Innovation Labs.'
  • The Bank's innovation and digitisation centre, ABC Labs, has been named as one of "the World's Best Financial Innovation Labs", a recognition given to leading financial innovation labs that are driving the digital revolution in the global banking industry.
  • ABC Labs, led by Bank ABC's Group Innovation function, was launched in 2019 and operates from a cutting-edge facility, with state-of-the-art digital tools.
  • ABC Labs excelled across the selection criteria and emerged as a winner of the Financial Services Company Labs category.

Verofax to raise US$750,000 on Beban Crowdfunding Platform

Retrieved on: 
Sunday, March 5, 2023
Oracle, Fortune 500, Bahrain Radio and Television Corporation, Learning, MCIT, Martech, SAP, Central bank, Supply, Artificial intelligence, Ministry of Finance (India), Acquisition, GCC, Customer lifetime value, Augmented reality, AWS, Growth, Ministry, Information technology, CLTV, Alrai TV, Software as a service, Privity, E-commerce, Public, Central Bank of Bahrain, Ant Group, Microsoft, Investment, CMO, Sustainability, VC, Accelerator, Plug and play, Zebra, Marketing, Dubai TV, Arms industry, Video game, Retail, Renewable energy, Online shopping, Beban

Beban Crowdfunding platform, for entrepreneurs to pitch retail investors.

Key Points: 
  • Beban Crowdfunding platform, for entrepreneurs to pitch retail investors.
  • Beban is the world's first TV show to provide an interactive crowdfunding element - Beban Crowdfunding, a secure platform licensed and regulated by the Central Bank of Bahrain which offers retail and accredited investors a unique interactive access to private equity investment opportunities, such as Verofax.
  • GCC investors can participate in Verofax' US$750,000 fundraising round through the Beban Crowdfunding platform, with investments beginning as reasonably as $100.
  • Investors interested in learning more about the fundraise and participating in Verofax' journey through the Beban Crowdfunding platform should visit the Beban website at www.beban.me, and refer to the Verofax crowdfunding page at www.beban.me/campaign/verofax-.

Brankas selected by Arab Financial Services to strengthen the open finance infrastructure in MENA

Retrieved on: 
Monday, February 13, 2023
CBB, BCA, Central bank, MENA, Fintech, API, AFS, Series, Central Bank of Bahrain, Open, Partnership, Bank, Today, BDO, Cryptocurrency, Brankas

SINGAPORE, Feb. 13, 2023 /PRNewswire/ -- Brankas, a Singapore-based fintech, today announced that it has been appointed by Arab Financial Services (AFS), the leading digital payment solutions provider and fintech enabler in the Middle East and Africa, to provide new and improved open finance infrastructure in the region.

Key Points: 
  • SINGAPORE, Feb. 13, 2023 /PRNewswire/ -- Brankas, a Singapore-based fintech, today announced that it has been appointed by Arab Financial Services (AFS), the leading digital payment solutions provider and fintech enabler in the Middle East and Africa, to provide new and improved open finance infrastructure in the region.
  • Brankas is a leading open finance technology company with an established presence and banking network in Southeast Asia.
  • This new partnership with AFS will see Brankas bring its established open finance practices to MENA to promote more inclusive financial services in countries including Bahrain, the UAE, Saudi Arabia, and Egypt.
  • Samer Soliman, Chief Executive Officer of Arab Financial Services (AFS) said: "Today, AFS already works with over fifty regional banking institutions.

EQRAZ Inc. launches halal home mortgages across several Canadian provinces

Retrieved on: 
Tuesday, January 24, 2023
Newton, Velocity, Rights, Disclosure, AB, NL, PE, Muslims, MB, Islam, Partnership, Central bank, Schedule, Canadian Charter of Rights and Freedoms, Finastra, NB, CAD, Kingdom, Trust, Profit and loss sharing, Central Bank of Bahrain, SRB, Audit, Financial adviser, Real estate, Sharia, NS

In addition, EQRAZ is also in discussions with several Canadian and US-based institutional investors and is committed to raising CAD $1B in funding within the next 18–24 months.

Key Points: 
  • In addition, EQRAZ is also in discussions with several Canadian and US-based institutional investors and is committed to raising CAD $1B in funding within the next 18–24 months.
  • Currently, EQRAZ is issuing mortgages in ON, MB, AB, and BC, and expects to launch in NS, NB, PE and NL by March 2023.
  • The biggest challenge we faced was to develop a halal product that does not conflict with Canadian tax, disclosure and other regulations, and meets with Canadian capital-market requirements.
  • EQRAZ' halal mortgage product avoids the regulatory, shariah-compliance, and funding-related problems facing traditional Musharaka and Murabaha products being offered by other firms."

MAG PARTNERS WITH COINMENA TO FACILITATE PROPERTY TRANSACTIONS USING CRYPTOCURRENCY

Retrieved on: 
Monday, January 16, 2023
USDT, MAG, Senior, Growth, MENA, USDC, Central Bank of Bahrain, Central bank, Cryptocurrency

Under this agreement, the developer will accept stablecoins, including USDT and USDC.

Key Points: 
  • Under this agreement, the developer will accept stablecoins, including USDT and USDC.
  • CoinMENA is a Bahrain-based cryptocurrency financial services company that is regulated and licensed by the Central Bank of Bahrain as a crypto asset service provider - category 3.
  • By allowing retail and institutional investors to connect their bank accounts with their CoinMENA wallets directly, the platform provides access to crypto asset investment options.
  • In his comments, Talal Moafaq Al Gaddah, Senior Executive Vice Chairman of MAG, said: "We are delighted to sign this agreement with CoinMENA to accept cryptocurrency transactions through its state-of-the-art platform.

Citi Global Tech Hub in Bahrain is on track to employ 1000 Bahraini coders

Retrieved on: 
Wednesday, January 11, 2023
Education, Finance, Partnership, Woman, Bahrain women's national football team, Central bank, EDB, Supreme Council, Hub, Pulse, Female, Meta, Sport in Bahrain, Central Bank of Bahrain, Growth, Privacy, Supreme Council for Women, STEM, Inclusive, Federal Ministry of Budget and National Planning (Nigeria), HE, Cryptocurrency, Kingdom, Citigroup

MANAMA, Bahrain, Jan. 11, 2023 /PRNewswire/ -- Citi Bahrain has celebrated the first anniversary of its Global Technology Hub, which is on track to employ 1000 Bahraini coders over ten years.

Key Points: 
  • MANAMA, Bahrain, Jan. 11, 2023 /PRNewswire/ -- Citi Bahrain has celebrated the first anniversary of its Global Technology Hub, which is on track to employ 1000 Bahraini coders over ten years.
  • Female participants at the Hub make up 22% of the total Bahrainis, outperforming the average of females in other Citi tech hubs around the world.
  • When selecting a country for its Global Technology Hub, Citi conducted a rigorous technical coding test and interview process, with Bahraini talent showing the highest pass rate when compared to other regions.
  • It makes us proud to see Bahraini women directly contributing to the operations and growth of Citi's Global Tech Hub."