Manama: Bahrain Islamic Bank (BisB), the leading provider of innovative Islamic digital financial solutions for simplifying money matters in the Kingdom of Bahrain, received ‘Most Innovative Islamic Bank in its digital Corporate and Institutional Banking Bahrain’ award at the 2024 World Business Outlook Awards.
This accolade recognises BisB’s exceptional digital corporate and institutional banking services and tailored solutions for businesses.
BisB’s state-of-the-art corporate and institutional banking platform offers seamless account management, foreign currency transactions, and payroll functionalities – all through an intuitive digital interface. The platform’s success is reflective of its impressive 80 per cent digital onboarding rate for new corporate customers in 2023, echoing the Bank’s strategic focus on digitalisation. Further bolstering its digital Corporate and Institutional Banking capabilities, BisB also implemented a direct API integration with the Ministry of Industry and Commerce’s (MoIC) Sijilat service to streamline account opening by enabling online capital depositing and issuance of capital certificates. This API link also facilitates KYC compliance.
“This recognition underscores our relentless pursuit of innovation in Islamic banking. BisB remains dedicated to empowering our corporate and institutional clients with innovative digital solutions that not only streamline their operations but also provide them with the tools necessary to flourish in an increasingly competitive market. Our commitment to delivering superior digital banking experiences reflects our broader vision to lead the future of Islamic finance,” Fatema AlAlawi, Acting Chief Executive Officer of BisB, said.
As BisB continues to push the boundaries of ingenuity in Islamic banking, this award serves as a powerful affirmation of its role as a leader in the industry – one that provides secure, efficient, and customer-centric Sharia’a compliant financial services.
