MANAMA: Mahmood Rafique, Editor: Shaikh Salman bin Khalifa Al Khalifa, the Minister of Finance and National Economy said that the Kingdom of Bahrain is treading on the right path of economic growth and development.
The Minister, who was addressing at launch ceremony of Zain Bahrain’s new fintech app “Bede”, reiterated the Team Bahrain’s commitment to advance economic development and national growth in line with the comprehensive development goals led by His Majesty King Hamad bin Isa Al Khalifa and supported by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, and the Prime Minister.
The launch of Bede, for the first time in Bahrain, represents a major step in Zain’s “4Sight” strategy to expand its regional leadership in fintech and meet emerging customer needs beyond basic telecommunications services.
The Bede App in Bahrain marks a significant milestone in Zain FinTech’s journey across its country markets and the Kingdom’s digital landscape, to drive financial inclusion and revolutionise the growth of the regional fintech ecosystem. Zain FinTech is the financial services arm of Zain Group and plays a key part in Zain’s ‘4Sight’ strategy by overseeing Zain’s fintech services across its operations in the Middle East and Africa. It focuses on rolling out innovative products and services related to payments, remittances, credit cards and micro-finance within the Zain ecosystem and beyond.
HE Shaikh Salman bin Khalifa commended the private sector for its pivotal role in driving development through the implementation of quality initiatives and programmes that create promising opportunities for all.
HE Shaikh Salman bin Khalifa highlighted Bahrain’s commitment to supporting priority sectors through a range of initiatives, notably those focused on technological and digital progress. This commitment is aimed at boosting Bahrain’s Economic Recovery Plan to foster investment and strengthen ties with the private sector. “Key initiatives include launching strategies for the development of the financial services, ICT, and digital economy sectors, alongside efforts to improve digital infrastructure and encourage innovative financial technology to drive economic growth,” he added.
The Minister stressed the importance of further broadening the scope of developing the promising sectors and adapting to financial market changes to offer innovative digital services.
HE Shaikh Salman bin Khalifa highlighted the need to strengthen public-private cooperation, fostering a conducive business environment and attracting investment to drive economic growth.
Shaikh Ahmed bin Ali Al Khalifa, the Chairman of the Board of Directors of Zain Bahrain, expressed his delight that Zain announced the launch of its new fintech app that showcases innovative solutions and services in the financial sector.
HE Shaikh Ahmed bin Ali stressed that this strategic step confirms Zain’s commitment to innovation and its dedication to meeting the evolving needs of its customers in fintech, digital transformation, and new financial services trends.
Shaikh Ahmed bin Ali noted that the Bede application seeks to change traditional methods of financial services by providing the latest technologies and solutions, supporting innovation and fintech development, in line with the Kingdom’s comprehensive development goals.
The Chairman expressed his confidence that this new application will contribute to strengthening the company’s position as a leading communications provider.
Zain Group, Bader Al-Khurafi, Vice Chairman and CEO stressed that the expansion of fintech services enhances financial inclusion and the digital ecosystem in the region and supports the socioeconomic vision of the countries being served.
AbdulNasser Al-Rayes, the Chief Executive of Zain Bahrain, a Fintech subsidiary, expressed his thanks to the Kingdom of Bahrain, its government, ministries, as well as all their partners for their support in nurturing the economy and creating an environment that fosters innovation and entrepreneurship.
Al-Rayes noted that Bede App is part of Zain Bahrain’s digital transformation journey and upholds the Kingdom’s 2030 Economic Vision and diversification plans by introducing new fintech services and solutions.
Al-Rayes added that they aim to revolutionise the fintech landscape in the Kingdom and serve as a catalyst for change in the entire region. Al-Rayes highlighted that Bede’s Sharia-compliant features, user-friendly interface, and commitment to security make it a game-changer in financial technology.
Al-Rayes affirmed that Bede promises a future where financial services are accessible, efficient, and inclusive for all, and pave the way for seamless, customer-centric financial solutions.
The launch event, held at the Ritz-Carlton, Bahrain, was attended by Mohammed bin Thamir Al Kaabi, the Minister of Transportation and Telecommunications, and several board members, CEOs of major companies, government officials, industry experts, community leaders, and other key stakeholders.
