Bahrain Bourse, Benefit launch eIPO service on BenefitPay
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.
This initiative marks a significant advancement in streamlining investor access to public share offerings on the Bahrain Bourse, said a statement from Benefit.
The new feature within the BenefitPay application, expected to be launched in Q4, 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.
Shaikh Khalifa bin Ebrahim Al Khalifa, the CEO of Bahrain Bourse and Vice Chairman & Managing Director of Bahrain Clear, 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," he stated.
Shaikh Khalifa said that the eIPO platform is set 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).
Benefit CEO Abdulwahed AlJanahi said: "We are pleased to announce this strategic partnership with Bahrain Bourse, which 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," he stated.
AlJanahi said: "This initiative underscores Benefit's ongoing efforts to support the Kingdom of 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."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Trade Arabia
a day ago
- Trade Arabia
The Avenues - Bahrain unveils exciting Eid festivities
The Avenues-Bahrain, the largest sea front shopping and entertainment destination in the kingdom, is set to welcome visitors this Eid with an exciting line-up of performances and activities that promise delightful festivities for the entire family. Beginning today (June 5), until June 14, The Avenues-Bahrain and its vibrant districts will come alive with daily shows, immersive roaming acts, and captivating acrobatic performances. Guests can look forward to Jumping Stilts, Roaming Characters, and the Roaming Brass Band, as well as special appearances by Stilt Walkers and talented Acrobat Duos and Hand Balance performers. The celebrations will unfold in multiple time slots each evening, allowing families to enjoy the experience at their leisure, said Avenues-Bahrain in a statement. As a premier integrated lifestyle hub with a total leasable area of 80,000 sqm and a length of 1.3 km, The Avenues-Bahrain brings together global brands, gourmet cuisines, and family-family recreation under one roof. The development's Phase I features 40,000 sqm of retail and leisure space, housing 125 renowned stores and restaurants, a state-of-the-art cinema and multiple kids' entertainment centers, all set against the backdrop of Bahrain's largest seafront promenade, it stated. Following the recent expansion under Phase II, the destination now boasts an additional 40,000 sqm of retail area, which accommodates over 200 stores with more than 50% currently open, said a company spokesman. "This expansion also introduced unique districts, including Electra, The Plaza, The Souk and The Marketplace, with each offering a distinct atmosphere. Visitors can now enjoy new attractions such as an indoor ice-skating rink and more kids' play zones, as well as shop for essentials at Lulu Hypermarket," he stated.
Trade Arabia
a day ago
- Trade Arabia
Wizz Air Abu Dhabi launches Beirut flights
Wizz Air Abu Dhabi, the ultra-low-fare national airline of the UAE, has launched its inaugural flight to Beirut. This milestone reinforces the airline's commitment to expanding its network across the Middle East and making travel more accessible, affordable and inclusive for everyone in the UAE. The new route operates three times per week on Mondays, Wednesdays and Fridays, with one-way fares starting from just AED249. As the only ultra-low-cost carrier flying directly from Abu Dhabi to Lebanon, Wizz Air Abu Dhabi offers UAE residents, including the large Lebanese community, a convenient, cost effective and smart travel option. The route makes it easier for families to reunite, for tourists to explore Lebanon's rich culture, and for more people to fly often without compromise. The inaugural flight was celebrated at Beirut-Rafic Hariri International Airport with a media and stakeholder conference attended by government officials, airport executives, and senior representatives from Wizz Air Abu Dhabi. Speaking at the press conference in Beirut, Tamara Vallois, Head of Commercial at Wizz Air said: 'Today marks a historic occasion of Wizz Air Abu Dhabi's first landing in Lebanon. This new route opens up more opportunities for families, businesses, and tourists to travel affordably between two vibrant capitals, which is already underlined by the fact that our flights for the upcoming weeks are nearly all sold out. As the national airline of the UAE, we stay true to our broader mission of making the region more accessible with easy travel options that deliver both value and high quality. We stay committed to contributing to the Abu Dhabi ecosystem by boosting tourism and business links between the countries and our crew looks forward to seeing many happy customers on board soon for a well-deserved summer vacation visiting loved ones or discovering the many gems this incredible country has to offer.' Laura Lahoud, Minister of Tourism for Lebanon, added: 'The launch of direct flights between the UAE capital and Beirut by Wizz Air Abu Dhabi marks a significant milestone in our mission to revitalise Lebanon's tourism sector. This new route strengthens regional connectivity, fosters cultural exchange and aligns with our vision of making Lebanon more accessible to travellers. It will also be an important driver of travel demand and supports the creation of jobs and economic growth. We welcome this partnership and look forward to more visitors experiencing the beauty, rich history and renowned hospitality that Lebanon has to offer.' The beating heart of Lebanon, Beirut is a diverse blend of ancient history, culture, and energy, with Unesco World Heritage Sites, vibrant souks, buzzing nightlife and Mediterranean charm. The city offers a sensory feast for visitors with a plethora of unmissable activities and rich culinary traditions. Must-visit spots include the Raouché Rocks, the National Museum, and the historic Downtown district. Beyond Beirut, travellers can enjoy easy day trips to Lebanon's scenic villages, majestic mountains, and postcard-perfect coastal towns.
Trade Arabia
a day ago
- Trade Arabia
Bahrain's Sama Bay Project enters fast track
Bahrain-based Millet Engineering Bureau has announced that work is in full swing at the Sama Bay development located on the Galali waterfront with its second phase over 90% completed. According to the Bureau, the initial phase of Sama Bay covered a total area of 75,000 sq m in a prime coastal location. This phase introduces a vibrant mix of facilities including 14 retail units with flexible leasing options, 14 food trucks integrated within an open-air service zone, and two fully equipped public beaches designed to accommodate recreational and leisure activities. As the firm overseeing the design and implementation of Sama Bay project, Millet Engineering Bureau said it was delighted to see the project on track for full delivery in the near future. The second phase represents a pivotal advancement, introducing an exclusive array of seaside dining venues designed to deliver exceptional culinary experiences in an idyllic setting, said a statement from the Bureau. These additions are set to further elevate the project's profile as a signature destination and a driver of both tourism and economic growth, in alignment with Bahrain's Tourism Strategy 2022–2026 and the national development goals outlined in Economic Vision 2030. It also features the 'Al Nakheel Premium,' a state-of-the-art open-air fitness gym nestled in a natural environment, alongside multiple sports amenities such as a football field, padel courts, and a variety of outdoor seating areas distributed throughout designated relaxation and social zones, said the statement. Dr Salman Alghatam, the General Manager of Millet Engineering Bureau, stated that work on Sama Bay has progressed in alignment with the project's master schedule and in accordance with the highest engineering and quality standards. "In a remarkably short span, the project has emerged as a flagship destination for tourism, recreation, and lifestyle activities, drawing widespread interest from Muharraq residents, citizens, and international visitors alike," stated Dr Alghatam. "Its strategic coastal setting, combined with thoughtfully designed spaces, offers a seamless and enriching experience that meets a broad spectrum of interests while delivering outstanding quality and comfort," he added. Dr. Alghatam pointed out that since the launch of Phase I, the Sama Bay has attracted strong visitor engagement and served as a venue for major public events such as Bahrain Sports Day, affirming its role as a dynamic hub for wellness and community life. The second and final phase of the project significantly elevates the waterfront experience through the addition of six architecturally distinct buildings with direct sea views, each designed to accommodate two restaurants, he stated.
