Manama – The Bahrain Institute of Banking & Finance (BIBF) have signed a strategic agreement with the BENEFIT Company to develop and deliver a self-paced electronic training programme in Anti-Money Laundering (AML) for its employees. This initiative aims to enhance compliance knowledge and strengthen regulatory readiness within the organisation, in line with global best practices.

Under the agreement, BIBF will design and develop a comprehensive eLearning programme tailored to BENEFIT’s operational environment, regulatory requirements, and the specific needs of its employees in the AML domain. The programme will provide an engaging and interactive learning experience, enabling staff to better understand risks, apply policies effectively, and adhere to relevant rules and regulations.

This initiative comes as part of national efforts to develop human capital in the financial sector and align workforce capabilities with the requirements of the Central Bank of Bahrain, strengthening the financial system and supporting Bahrain’s long-term national vision.

Commenting on the agreement, Dr. Ahmed Al Shaikh, Chief Executive Officer of the BIBF, stated:
“We take pride in strengthening our partnership with BENEFIT through this specialised training programme, which aims to equip the company’s employees with essential AML knowledge through a modern digital learning platform that reflects evolving market and regulatory needs.”

On his part, Mr. Abdulwahed AlJanahi, Chief Executive at BENEFIT, said: “Compliance is a fundamental pillar of BENEFIT’s operations, and this collaboration with the BIBF reflects the institute’s deep expertise in developing specialised training solutions that meet the needs of the financial sector. This tailored programme ensures our employees receive high-quality, practical training in a flexible and modern format that enhances their professional readiness.”

The new programme will be delivered through BIBF’s digital learning platform, enabling BENEFIT employees to complete the training at their own pace, while ensuring effective tracking, performance assessment, and reporting for compliance purposes.

This initiative reflects the commitment of both organisations to advancing a sustainable and well-regulated financial ecosystem by equipping the workforce with the skills needed for a resilient and future-ready sector.

About BIBF

The Bahrain Institute of Banking and Finance (BIBF), established in 1981 under the umbrella of the Central Bank of Bahrain, is the Kingdom’s leading provider of professional training and education. The Institute plays a vital role in human capital development, offering internationally recognised programmes across a wide range of disciplines.

With a global reach extending to over 64 countries, BIBF is recognised as a world-class training and education provider. Its areas of specialisation include Banking & Finance, Islamic Finance, Digital Transformation, Insurance, Leadership & Management, as well as Academic and Executive Development Programmes — delivered in partnership with renowned institutions regionally and internationally.

For more information, visit www.bibf.com or contact media@bibf.com | +973 17815596.

About the BENEFIT Company

BENEFIT was established in 1997 and is licensed by the Central Bank of Bahrain (CBB) as an ancillary service provider to the Kingdom’s financial services industry. BENEFIT is owned by Banks in Bahrain, regulated by the CBB, to provide innovative Payment Capabilities, Information Management Solutions, and Business Process Outsourcing Services across different sectors in the Kingdom of Bahrain and the Region.

BENEFIT’s range of services – supported by GCCNet in countries within the region – include operating of Automated Teller Machines (ATM), Point of Sale (POS), GCCNet, The GCCNet Dispute Management System, Credit Reference Bureau (CRB), Telecom Bill Payment (Tele BP), Direct Debit (DD), Payment Gateway (PG), Bahrain Cheque Truncation System (BCTS), Amex Cards withdrawal, eCheque, EFTs, national eWallet (BenefitPay) and national eKYC Platform for the financial sectors, Bahrain Electronic Cheque, Wages Protection System, and Trust Services for digital signatures.