Manama: The Social Insurance Organisation (SIO) and BENEFIT have signed a Memorandum of Understanding (MoU) aimed at enhancing cooperation through data integration and exchange. This initiative is expected to simplify and accelerate financial and banking procedures for private-sector insured persons and retirees. The agreement falls under broader public-private sector partnerships focused on improving service delivery and efficiency.
According to Bahrain News Agency, Sahar Rashed Al Mannai, CEO of SIO, stated that the initiative is aligned with the Government's efforts to enhance the quality and efficiency of public services by advancing digital transformation and automating processes. She mentioned that the new service is planned to be rolled out from 1 February across multiple banks.
Abdulwahid Abdulrahman Al Janahi, CEO of BENEFIT, emphasized that the partnership demonstrates a shared commitment to developing innovative digital financing solutions and strengthening the sustainability of financial services. He highlighted that BENEFIT will utilize its digital capabilities to enhance the efficiency of financial transactions and support Bahrain's position as a leading centre for digital financial services.