BENEFIT, the kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has signed a strategic co-operation agreement with Bahrain Clear, a fully-owned subsidiary of Bahrain Bourse, to launch eIPO service (electronic initial public offering service) on BenefitPay.
The initiative marks a significant advancement in streamlining investor access to public share offerings on the Bahrain Bourse, a statement said.
The new feature within the BenefitPay application, expected to be launched in the fourth quarter this year, will provide a fully integrated digital platform that enables users to subscribe to IPOs listed on the Bahrain Bourse.
With its intuitive and user-friendly interface, the service will ensure a smooth end-to-end experience – from registration through to payment – while offering detailed and up-to-date information on available public offerings. This enhancement aims to provide retail investors with streamlined access to investment opportunities, improving both accessibility and overall user convenience, the statement added.
Bahrain Bourse chief executive and Bahrain Clear vice-chairman and managing director Shaikh Khalifa bin Ebrahim Al Khalifa said, “We are pleased to collaborate with Benefit – an instrumental force in advancing Bahrain’s digital financial infrastructure – to expand the reach of our eIPO services through the BenefitPay platform.
“The eIPO service provides a secure, streamlined process for submitting and managing IPO subscription applications. Integrating this service within BenefitPay represents a strategic evolution in our efforts to enhance investor accessibility, simplify the subscription process, and foster greater public participation in capital market opportunities.”
“The eIPO platform aims to further complement current service offering by Bahrain Clear, and aims to be aligned with the key objective of Financial Services Sector Development Strategy (2022-2026),” Shaikh Khalifa added.
Benefit CEO Abdulwahed AlJanahi stated: “This strategic partnership with Bahrain Bourse represents a major step forward in advancing digital financial services across the kingdom. By integrating eIPO functionality into BenefitPay, we are enabling individual investors to subscribe to IPOs more efficiently, securely and transparently.
“This service simplifies the subscription process and encourages broader investor participation in IPOs – solidifying Benefit’s role as a key enabler of digital transformation within the Bahrain Bourse and the wider financial ecosystem.”
Mr AlJanahi further added, “This initiative underscores Benefit’s ongoing efforts to support Bahrain’s dynamic digital transformation within the banking and financial services sector. We remain dedicated to continuously enhancing the capabilities of the BenefitPay platform by introducing forward-looking features that promote financial inclusion and encourage a more informed and engaged investment community. We are confident that this collaboration will play a meaningful role in increasing investor participation and further strengthening the capital market ecosystem.”
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