Latest news with #MADA
Biz Bahrain
26-05-2025
- Business
- Biz Bahrain
MADA Brokers Sets a New Standard: Bahrain's First Online Insurance Aggregator Now Live!
MADA Brokers licensed by Central Bank of Bahrain (CBB), has announced the launch of the first insurance aggregator in the Kingdom of Bahrain, accompanied by the introduction of the mobile application, 'Shamil by MADA.' This groundbreaking initiative marks a significant milestone with the support and guidance of Central Bank of Bahrain (CBB), as MADA becomes the first company in Bahrain to provide clients with instant quotations for a variety of insurance products, including motor, home, and travel insurance. This advancement underscores MADA's commitment to harnessing technology to enhance customer experience and address the evolving needs of its clients. In addition to the mobile application, the aggregator is also accessible via the company's website: In a statement on the occasion, Mr. Khaled Fuad Kanoo – Chairman of the Board of MADA Insurance, commented: 'The launch of Mada's comprehensive digital application marks a major milestone in the Kingdom of Bahrain, as it introduces the first insurance aggregation platform of its kind. The platform serves as a unified marketplace that streamlines the insurance purchasing process—empowering users to compare multiple products and choose the option that best aligns with their needs.' Mr. Kanoo further added, 'At Mada Brokers, our mission is to drive the expansion of Bahrain's online insurance aggregator ecosystem—a model that has matured globally to become the primary channel for distributing personal and commercial insurance products. Our goal is to offer a user-friendly platform that equips consumers with the tools and knowledge necessary to make confident, informed decisions about their insurance coverage.' Mr. Kanoo affirmed that Shamil by Mada is a key milestone in the company's journey, developed with the support and regulatory oversight of the Central Bank of Bahrain. It reflects MADA ongoing commitment to using digital innovation to create transparent, accessible, and seamless insurance solutions for all clients. Mada Brokers currently offers three core insurance lines—Motor, Home, and Travel—through strategic partnerships with GIG Gulf, GIG Bahrain, and Solidarity. The platform is designed to simplify the insurance process, offering side-by-side comparisons of policies from leading providers. In addition, Mada provides a range of corporate insurance solutions, offering coverage against a spectrum of risks such as property damage, business interruption, operational incidents, financial losses, employee benefits, and theft. For individuals, Mada's personal insurance lines cover losses arising from death, injury, or property damage, ensuring financial protection and peace of mind. As part of its roadmap for continued expansion, Mada plans to introduce Medical Malpractice Insurance and Medical Insurance in the coming months—reinforcing its role in enhancing the insurance sector and addressing the evolving needs of Bahrain's diverse customer base.
Arab News
08-05-2025
- Business
- Arab News
Saudi Arabia sees 73% surge in e-commerce sales using MADA cards
RIYADH: Saudi e-commerce sales via MADA cards surged 73.4 percent year on year in March to a record SR27.55 billion ($7.34 billion), reflecting rapid growth in the Kingdom's digital payment ecosystem. According to the Saudi Central Bank, also known as SAMA, online transactions using the national card network reached 147.6 million during the month, up 54.5 percent compared to March 2024. The figures reflect transactions completed through websites, mobile apps, and e-wallets linked to MADA, and do not include those carried out using Visa, MasterCard, or other international networks. MADA — the Kingdom's domestic debit card network — underpins a growing portion of Saudi Arabia's non-cash economy by enabling secure, contactless payments through NFC technology both online and at retail locations. This growth in digital commerce reflects rising consumer trust, expanding fintech ecosystems, and national investments in financial technology integration. In a step toward digital expansion, SAMA signed an agreement in April with Google to introduce Google Pay in Saudi Arabia using the MADA infrastructure. The integration, expected to launch later in the year, will allow users to add and manage their MADA-linked cards within Google Wallet, offering seamless and secure transactions across physical stores, mobile apps, and websites. According to SAMA, this move is part of a broader push to establish a robust digital payments infrastructure and reduce the country's dependence on cash transactions. The central bank's efforts also include licensing new fintech players such as Barq, launching e-wallet platforms, and facilitating the operational launch of STC Bank, all aimed at bolstering financial inclusion and consumer convenience. Earlier this year, the eSAMA portal also entered trial phase, providing digital access to a range of central bank services. Alongside e-commerce growth, point-of-sale transactions using MADA also expanded, reaching SR65.67 billion in March — a 10.02 percent increase year on year. E-commerce sales using MADA cards were equivalent to 42 percent of POS transaction value in March, up from 27 percent a year earlier — underscoring the faster growth of online spending compared to in-store purchases. POS transactions — which cover physical card usage at retail stores, restaurants, gas stations, and service outlets — do remain a critical pillar of everyday consumer spending. With Saudi Arabia aiming for over 70 percent of all transactions to be non-cash by 2025, the latest data signals that the Kingdom is fast approaching its digital transformation benchmarks — with MADA at the heart of this evolution.
BBC News
28-03-2025
- Sport
- BBC News
Sally Gunnell announced as judge for BBC Make a Difference Awards
Olympic gold medallist Sally Gunnell is set to be a judge for the BBC Make a Difference Awards (MADA). The ex-track and field athlete, who lives near Brighton, will help choose the winner of the new active category, awarded to individuals or groups who have used sport or physical activity to improve the lives of others in the the winner "is going to be very tricky," she told BBC Radio Sussex. "But I want to see somebody that's doing that little bit extra for somebody else." Ms Gunnell, who set a world record in the woman's 400m hurdles in 1993, said there were "so many different options" judges wanted to hear about. She suggested nominees could be helping communities through sport, keeping people active, or anyone who has done "something incredible" like raising money for charity through physical is "everything for our health", Ms Gunnell added, highlighting its positive social and mental effects. "It's so important." MADA is a BBC initiative to honour community champions across eight different categories. To nominate someone go to the Make A Difference site, with nominations closing at 17:00 BST on 31 March.
Tahawul Tech
11-02-2025
- Business
- Tahawul Tech
Mada & SALAM ink pact on Cutting-Edge Messaging Solutions
Salam, a leading provider of telecommunications services in Saudi Arabia, and MADA recently announced a strategic partnership for Messaging Services. The partnership is set to revolutionize the digital landscape in the region, ushering in innovative solutions beyond traditional voice and messaging platforms. Both companies are set to leverage emerging opportunities, elevate service standards, and lead industry innovation to enhance service delivery and customer experiences. The Saudi Arabian market for is expected to grow at a compound annual growth rate (CAGR) of 4.40% from 2024 to 2032 in Promotional, Authentication & Marketing services over communication channels. Through this partnership, Salam will capitalize on MADA's expertise to enhance its customer experience and increase its A2P messaging revenues. MADA will oversee the management of all international A2P messaging services, including essential services such as two-factor authentication and automated notifications. 'We are grateful for Salam's trust in selecting MADA as its preferred partner. This significant step reinforces MADA's position in Saudi Arabia' said Adel Louis, Vice President, MADA. 'Our team is committed to dedicating its utmost efforts to ensure a successful and enduring partnership with Salam.' MADA has long-standing reputation in the telecommunications sector and wealth of experience in Saudi Arabia. Additionally, its concentrated operations within the region, strong relationships with local and international entities, and robust security and protection protocols are set to enable efficient and effective management of the partnership. Amjad Arab, Chief Wholesale and Partnerships Officer at Salam, said: 'In our partnership with MADA, Salam is setting a new standard for innovation and service in the industry. Together, we stand at the forefront of supporting the digital transformation aligned with Vision 2030, ready to cater to the anticipated surge in internet usage and customer expectations. This strategic collaboration is poised to harness the projected growth in the A2P messaging market and meet the rising demand for superior digital connectivity driven by innovation, security, and excellence. Our shared commitment to elevate service standards and lead innovation aims to foster a thriving digital ecosystem for our customers.' Both MADA and Salam are committed to advancing the infrastructure that underpins digital transformation aligning with Vision 2030. With Saudi Arabia's increasing internet penetration expected to reach 70.99% in 2025 and significant market growth across telecom sector, a core objective of this partnership will help address increasing demand for high-quality, low-latency digital experiences. Image Credit: Mada & SALAM
Leaders
05-02-2025
- Business
- Leaders
MADA & SALAM Forge Strategic Alliance to Drive Saudi Messaging Innovation
Salam, a leading telecommunications provider in Saudi Arabia, has partnered with MADA for innovative messaging services. This collaboration aims to revolutionize the Kingdom's digital landscape, delivering cutting-edge solutions beyond traditional voice and text platforms. Both companies will capitalize on emerging opportunities. They also seek to elevate service standards and drive industry innovation. Ultimately, they will enhance service delivery and customer experiences. The Saudi market for promotional, authentication, and marketing services is booming. Experts project a 4.40% compound annual growth rate (CAGR) from 2024 to 2032. This growth spans various communication channels. Salam will leverage MADA's expertise to improve customer experience. Furthermore, this collaboration will increase Salam's A2P messaging revenues. MADA will manage international A2P messaging, including crucial services like two-factor authentication and notifications. MADA's Commitment and Expertise 'We appreciate Salam's trust in MADA,' said Adel Louis, Vice President of MADA. 'This partnership strengthens MADA's position in Saudi Arabia. Our team is dedicated to ensuring a successful, long-term relationship with Salam,' he added. MADA has a strong reputation and extensive experience in Saudi telecommunications. Moreover, its regional focus and robust security protocols ensure efficient partnership management. Strong relationships with local and international entities further support this goal. Salam's Vision for Innovation 'Our partnership with MADA sets a new industry standard,' stated Amjad Arab, Chief Wholesale and Partnerships Officer at Salam. 'Together, we champion digital transformation, aligning with Vision 2030. We are prepared to meet rising internet usage and customer expectations,' he explained. This collaboration will capitalize on the projected A2P messaging market growth. In addition, it will also address the increasing demand for superior digital connectivity. Innovation, security, and excellence drive this demand. The shared commitment aims to cultivate a thriving digital ecosystem. Driving Digital Transformation in Line with Vision 2030 MADA and Salam are committed to advancing digital transformation infrastructure, which aligns with Saudi Vision 2030. Saudi Arabia's internet penetration is forecast to reach 70.99% in 2025 with a significant market growth is also expected across the telecom sector. This partnership addresses the rising demand for high-quality, low-latency digital experiences. Consequently, it will support the Kingdom's ongoing digital evolution. Short link :
