Latest news with #InnovationinSocialHousingSector
Biz Bahrain
25-04-2025
- Business
- Biz Bahrain
BENEFIT Showcases Cutting-Edge Digital Financial Solutions at 'Innovation in Social Housing' Summit
BENEFIT, the Kingdom's innovator and leading company in Fintech and electronic financial transactions service, participated in the 'Innovation in Social Housing Sector' Summit, held under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister. Under the theme 'Towards Innovative and Sustainable Housing Solutions,' the event was held at Exhibition World Bahrain, serving as a platform to explore transformative and sustainable approaches to social housing. During the conference, BENEFIT underscored its leading role in advancing integrated digital financial solutions tailored to the needs of the housing and real estate sectors. The company showcased exemplary case studies stemming from its strategic partnerships with both public and private sector entities, illustrating its financial services as key enablers of financial innovation, streamlining home financing processes, enabling secure and efficient digital payment channels, and simplifying lending procedures for citizens and residents across the Kingdom. As part of the exhibition held alongside the summit, BENEFIT engaged directly with visitors at its dedicated stand, providing information and guidance on its credit bureau services. Attendees were offered on-the-spot access to their personal credit reports through the Bahrain Credit Bureau, a BENEFIT-operated service that has been embedded within the housing application requirements to enhance the efficiency and timeline of the evaluation process. BENEFIT emphasized that its collaborative efforts with the Ministry of Housing and Urban Planning and the Eskan Bank to fetch applicants' credit report data have significantly simplified procedures for the Ministry's housing programs. This integration ensures faster, more efficient delivery of support to eligible beneficiaries. In addition, BENEFIT leveraged this participation to raise awareness about its flagship app, BenefitPay, and the comprehensive range of services it offers. A particular highlight was the Fawateer feature, which enables users to seamlessly view and pay bills electronically. Mr. Abdulwahed AlJanahi, Chief Executive at BENEFIT commented, 'We are proud to contribute to this important national initiative, which reflects our continued dedication to empowering individuals through forward-thinking financial solutions that align with the objectives of social housing programmes. Our focus remains on delivering secure, accessible, and practical digital tools that streamline financial processes and enrich the overall experience of programme beneficiaries.' Mr. AlJanahi affirmed that the remarkable turnout at BENEFIT's stand reflects the growing public interest in innovative digital financial solutions and expressed appreciation for the opportunity to participate in such a significant event, which serves as a valuable platform to engage with citizens and key stakeholders within the housing sector. This participation reinforces BENEFIT's pivotal role in supporting Bahrain's national digital transformation agenda by advancing secure, integrated payment ecosystems that contribute to a cashless society and enhance the quality of life for all.
Biz Bahrain
25-04-2025
- Business
- Biz Bahrain
Eskan Bank sign strategic cooperation agreement with RERA
Eskan Bank signed a strategic cooperation agreement with the Real Estate Regulatory Authority (RERA) to enhance transparency and reliability in the real estate sector by integrating data, exchanging information, and improving market efficiency. The agreement was signed during the 'Innovation in Social Housing Sector' Summit and Exhibition, held under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, under the theme 'Towards Innovative and Sustainable Housing Solutions.' The agreement aims to link all property-related data listed on the 'Baity' platform with RERA's 'Aqari' real estate information platform. This will enable analysis of demand for different property types and provide insights into consumer behaviour. It will also facilitate comparison and verification of property data across both platforms to ensure accuracy and reliability. Abdulla Taleb, General Manager of Eskan Bank, said that the agreement with RERA represents a qualitative step in enhancing transparency and efficiency in the real estate sector in the Kingdom of Bahrain. He noted that the agreement would provide accurate data to support property ownership and the development of Eskan Bank's policies and plans. He added that the partnership would enable the bank to offer more effective real estate services while ensuring the highest standards of data reliability on the 'Baity' platform. He also added that the partnership aims to help develop precise performance indicators for the sector to support ownership and investment decisions for a wider range of beneficiaries. It will also establish new standards for transparency, enhancing the role of the 'Baity' platform in providing integrated housing solutions. These solutions have been presented by property developers to citizens seeking housing units that meet their needs and align with the financing conditions set by the Ministry of Housing and Urban Planning. On his part, Ebrahim Mohamed Abul, CEO of RERA, said the cooperation agreement with the 'Baity' platform, affiliated with the Ministry of Housing and Urban Planning and Eskan Bank, represents a pivotal step in supporting the integration of government real estate data. He explained that the agreement would allow RERA to access direct and accurate data on the most in-demand housing projects and their prices, as well as information on financing options available to citizens. This will enrich the 'Aqari' platform's database and support the provision of deeper and more reliable analyses for all stakeholders in the sector, including developers, investors, individuals, and financial institutions. He added that RERA is working to make 'Aqari' a smart, interactive platform that integrates with official entities to promote transparency and provide decision-making tools based on realistic and up-to-date information, contributing positively to the sustainability and efficiency of the real estate market. BNA(R)
Zawya
24-04-2025
- Business
- Zawya
BENEFIT showcases cutting-edge digital financial solutions at 'Innovation in Social Housing' summit
BENEFIT, the Kingdom's innovator and leading company in Fintech and electronic financial transactions service, participated in the 'Innovation in Social Housing Sector' Summit, held under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister. Under the theme 'Towards Innovative and Sustainable Housing Solutions,' the event was held at Exhibition World Bahrain, serving as a platform to explore transformative and sustainable approaches to social housing. During the conference, BENEFIT underscored its leading role in advancing integrated digital financial solutions tailored to the needs of the housing and real estate sectors. The company showcased exemplary case studies stemming from its strategic partnerships with both public and private sector entities, illustrating its financial services as key enablers of financial innovation, streamlining home financing processes, enabling secure and efficient digital payment channels, and simplifying lending procedures for citizens and residents across the Kingdom. As part of the exhibition held alongside the summit, BENEFIT engaged directly with visitors at its dedicated stand, providing information and guidance on its credit bureau services. Attendees were offered on-the-spot access to their personal credit reports through the Bahrain Credit Bureau, a BENEFIT-operated service that has been embedded within the housing application requirements to enhance the efficiency and timeline of the evaluation process. BENEFIT emphasized that its collaborative efforts with the Ministry of Housing and Urban Planning and the Eskan Bank to fetch applicants' credit report data have significantly simplified procedures for the Ministry's housing programs. This integration ensures faster, more efficient delivery of support to eligible beneficiaries. In addition, BENEFIT leveraged this participation to raise awareness about its flagship app, BenefitPay, and the comprehensive range of services it offers. A particular highlight was the Fawateer feature, which enables users to seamlessly view and pay bills electronically. Mr. Abdulwahed AlJanahi, Chief Executive at BENEFIT commented, 'We are proud to contribute to this important national initiative, which reflects our continued dedication to empowering individuals through forward-thinking financial solutions that align with the objectives of social housing programmes. Our focus remains on delivering secure, accessible, and practical digital tools that streamline financial processes and enrich the overall experience of programme beneficiaries.' Mr. AlJanahi affirmed that the remarkable turnout at BENEFIT's stand reflects the growing public interest in innovative digital financial solutions and expressed appreciation for the opportunity to participate in such a significant event, which serves as a valuable platform to engage with citizens and key stakeholders within the housing sector. This participation reinforces BENEFIT's pivotal role in supporting Bahrain's national digital transformation agenda by advancing secure, integrated payment ecosystems that contribute to a cashless society and enhance the quality of life for all.
