Latest news with #BisB
Al Bawaba
27-05-2025
- Business
- Al Bawaba
NBB Group First in Middle East & Africa Region to Activate Wire 365 from J.P. Morgan Payments
The National Bank of Bahrain Group (NBB Group), comprising the National Bank of Bahrain (NBB) and Bahrain Islamic Bank (BisB), has today announced it is the first in the Middle East and Africa region to use J.P. Morgan Payments' Wire 365 solution, which offers USD clearing services 365 days a year and enables continuous access to real-time cross-border 365 provides financial institutions, corporates, and their high-net-worth individual clients requiring high-frequency USD disbursements to process same day value settlements for beneficiaries within the J.P. Morgan Payments network. The solution also eliminates traditional cut-off time constraints, enhances liquidity management and operates 365 days a year. This can empower end customers to optimise their cash flows and manage their payment obligations with greater on the move, Ali Abdulkarim, Group Chief Executive – Corporate and Commercial Banking at NBB, said, 'Leveraging Wire 365 highlights our forward-thinking approach, which aims to augment advanced technology in banking operations to deliver tangible value to institutions and organisations. By providing year-round access to USD clearing, we are streamlining cross-border operations with efficient and reliable solutions that meet the requirements of a fast-evolving and interconnected market. The initiative further strengthens our position as a reliable corporate banking partner.'Aqeel Ghaith, Chief Corporate & Institutional Banking Officer at BisB, added, 'The use of Wire 365 reflects our commitment to strengthening our cross-border payment capabilities. By offering extended USD clearing, we are strengthening our value proposition to high-value clientele who require uninterrupted overseas payment services.'Gayathri Vasudev, Global Head of Cross-Currency and Global Clearing Payments at J.P. Morgan Payments, stated, 'We are pleased to see NBB Group is using the Wire 365 solution to address a critical industry need for Always-on processing of USD payments. As global demand for immediate settlements grows, the ability to process transactions without time restrictions is a game-changer for financial institutions and corporates worldwide. The beauty of this solution is that it allows the NBB to leverage all the rich functionality of J.P. Morgan Payments' USD clearing while allowing weekend processing.'J.P. Morgan Payments combines treasury services, trade & working capital, card and merchant services capabilities to help clients pay customers or employees, in different currencies, around the world. It processes more than $10 trillion payments daily, operating in over 200 countries and territories in over 120 currencies. NBB Group remains committed to delivering innovative experiences that enhance financial accessibility and efficiency for its diverse customer base. The introduction of Wire 365 is a significant milestone in modernising correspondent banking services, setting a new standard for frictionless USD funds processing in the Kingdom's financial sector.
Trade Arabia
26-05-2025
- Business
- Trade Arabia
NBB Group first in region to activate Wire 365 from J.P. Morgan Payments
The National Bank of Bahrain Group (NBB Group), comprising the National Bank of Bahrain (NBB) and Bahrain Islamic Bank (BisB), has become the first in the Middle East and Africa region to use J.P. Morgan Payments' Wire 365 solution, which offers USD clearing services 365 days a year and enables continuous access to real-time cross-border payments. Wire 365 provides financial institutions, corporates, and their high-net-worth individual clients requiring high-frequency USD disbursements to process same day value settlements for beneficiaries within the J.P. Morgan Payments network. The solution also eliminates traditional cut-off time constraints, enhances liquidity management and operates 365 days a year. This can empower end customers to optimise their cash flows and manage their payment obligations with greater flexibility. Ali Abdulkarim, Group Chief Executive – Corporate and Commercial Banking at NBB, said: 'Leveraging Wire 365 highlights our forward-thinking approach, which aims to augment advanced technology in banking operations to deliver tangible value to institutions and organisations. By providing year-round access to USD clearing, we are streamlining cross-border operations with efficient and reliable solutions that meet the requirements of a fast-evolving and interconnected market. The initiative further strengthens our position as a reliable corporate banking partner.' Aqeel Ghaith, Chief Corporate & Institutional Banking Officer at BisB, added: 'The use of Wire 365 reflects our commitment to strengthening our cross-border payment capabilities. By offering extended USD clearing, we are strengthening our value proposition to high-value clientele who require uninterrupted overseas payment services.' Gayathri Vasudev, Global Head of Cross-Currency and Global Clearing Payments at J.P. Morgan Payments, stated: 'We are pleased to see NBB Group is using the Wire 365 solution to address a critical industry need for Always-on processing of USD payments. As global demand for immediate settlements grows, the ability to process transactions without time restrictions is a game-changer for financial institutions and corporates worldwide. The beauty of this solution is that it allows the NBB to leverage all the rich functionality of J.P. Morgan Payments' USD clearing while allowing weekend processing.' J.P. Morgan Payments combines treasury services, trade & working capital, card and merchant services capabilities to help clients pay customers or employees, in different currencies, around the world. It processes more than $10 trillion payments daily, operating in over 200 countries and territories in over 120 currencies.
Daily Tribune
09-05-2025
- Business
- Daily Tribune
BisB introduces multicurrency card
Bahrain Islamic Bank (BisB) has introduced a new Visa Multi-Currency Prepaid Card, offering a seamless and cost-effective way for customers to spend internationally. The card enables payments in six currencies: Bahraini Dinar, US Dollar, British Pound, Euro, Emirati Dirham, and Saudi Riyal. The new product is aimed at travellers, online shoppers, and professionals who manage financial commitments across borders. Digital Tools Cardholders benefit from transparent conversion rates and real-time spending controls. All activity can be tracked via the BisB Mobile App, which also allows users to top up funds and switch between currencies as needed. Faisal Al Abdulla, Chief Retail Banking Officer at BisB, said the card was designed to meet growing demand for 'frictionless global transactions,' and combines flexibility with user control and security. Secure Spending The card also includes advanced security features, making it suitable for travel and everyday use abroad. The launch marks another step in BisB's shift toward digital-first banking tools that support the evolving lifestyles of its customer base. Applications can be submitted via the BisB Mobile App, by visiting a branch, or by calling 17515151.
Daily Tribune
06-05-2025
- Business
- Daily Tribune
BisB Honors Local Journalists on Bahraini Press Day for Dedication and Professionalism
TDT | Manama In celebration of Bahraini Press Day, which falls on May 7 each year, Bahrain Islamic Bank (BisB), the leading provider of Islamic digital banking services in the Kingdom of Bahrain, recently organized a special event to honor a select group of local journalists. The event took place at the Wyndham Grand Manama Hotel. This celebration was organized by the bank to recognize the efforts of local journalists and their valuable contributions in reporting news, covering events, and raising community awareness on economic, banking, and social issues. As part of the event, BisB honored Mr. P. Unnikrishnan, Managing Director of The Daily Tribune, for the continued support and cooperation extended by the publication. Additionally, a Letter of Appreciation was awarded to Mr. Abhitabh Kumar, Head of Sales and Business Division at The Daily Tribune, in recognition of his collaborative efforts and professional excellence. The event was attended by Ms. Fatema AlAlawi, Chief Executive Officer of BisB, along with several bank employees, as well as editors-in-chief of local newspapers, journalists, photographers, and administrative staff working in the press. Ms. Fatema AlAlawi, Chief Executive Officer of BisB, stated: 'We are proud to honor Bahraini journalism, who have played a prominent role in conveying information with transparency and professionalism, and have supported various national sectors, including the banking sector. This recognition stems from our belief in the importance of journalism as a strategic partner in development, and our commitment at BisB to strengthen communication bridges with the national press.' Ms. AlAlawi added: 'We value the efforts of the local journalism in supporting the local media landscape, emphasizing their important and primary role in highlighting the programs, initiatives, and achievements of community institutions. We commend the unlimited support provided by our wise leadership to the press and the freedom of expression enjoyed by local journalists, which provides them with the appropriate journalistic environment for creativity and covering facts, events, and initiatives in a way that contributes to the development of all sectors in society.' Bahrain Islamic Bank (BisB) is keen on enhancing its relationships with media outlets and continuously supports the vital role played by Bahraini journalism in supporting the development and progress of the Kingdom.
Daily Tribune
05-05-2025
- Business
- Daily Tribune
BisB Promotes 29 Bahrainis to Strengthen National Talent Pool
Bahrain Islamic Bank (BisB) has announced the promotion of 29 Bahraini employees as part of its ongoing efforts to develop and invest in national talent. The promotions include 4 individuals at executive levels and 25 employees at other levels, representing 15% of the bank's total workforce. These promotions reflect BisB's commitment to enhancing the skills and growth of its employees, while fostering a work environment that encourages innovation and development. By promoting talented Bahrainis across various departments, BisB continues to solidify its role as a leader in employing national talent within the private sector. Fatema AlAlawi, CEO of BisB, expressed her congratulations to the promoted employees, stating, "These promotions are a testament to the dedication and hard work of our team members. They play a vital role in the bank's success and growth. This recognition is an encouragement for them to continue their exceptional efforts, prioritize innovation, and maintain excellence in their work." Afnan Saleh, Chief Human Resources Officer at BisB, emphasized the bank's role in nurturing Bahraini talent within the Islamic banking sector, stating, "BisB is committed to offering the resources and incentives necessary for Bahraini professionals to thrive in the financial services industry. We are dedicated to developing the next generation of leaders and contributing to the future success of Bahrain's banking sector." The bank's focus on investing in its national workforce aligns with its strategic vision of developing young Bahraini talent and supporting their career progression within the organization.
