The Social Insurance Organisation (SIO) and BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has signed a Memorandum of Understanding (MoU) to enhance collaboration through data integration and exchange, with the aim of simplifying and accelerating financial and banking procedures for private-sector insured persons and retirees. The agreement is part of broader public–private sector partnerships designed to improve service delivery and efficiency.

The MoU was signed by Mrs. Sahar Rashed Al Mannai, SIO CEO, and Mr. Abdulwahed AlJanahi, Chief Executive of BENEFIT.

Mrs. Sahar Rashid Al Mannai said the initiative supports the Government’s drive to enhance the quality and efficiency of public services by advancing digital transformation and automating processes, and noted that the new service is set to be rolled out from 1 February across several banks.

Mrs. Al Mannai further explained that the signing of the MoU represents a significant step towards streamlining procedures and accelerating transactions, consistent with SIO's aspirations and priorities for the next phase of service development.

Mr. Abdulwahed AlJanahi, Chief Executive of BENEFIT stated: “We are pleased to sign this MoU with the Social Insurance Organisation, which reflects our shared commitment to strengthening public and private sector collaboration in support of innovative digital financing solutions. This partnership advances the sustainability of financial services and contributes to a dynamic business environment grounded in innovation and modern technologies. Through this agreement, we will leverage BENEFIT’s expertise and digital infrastructure to enhance the efficiency of financial operations and enable faster, more reliable access to financing, reinforcing the Kingdom of Bahrain’s position as a leading hub for digital financial services.”