Elm, a leading digital solutions provider, has signed a memorandum of understanding (MoU) with the Bahrain Electronic Network for Financial Transactions (BENEFIT) to accelerate digital transformation in the Kingdom’s financial services industry. The agreement was formalized during the Gateway Gulf Investment Forum 2025, held in Bahrain on November 2–3.
The collaboration aims to explore joint opportunities in developing shared digital services, enabling digital onboarding for financial institutions, and designing innovative FinTech solutions that strengthen the financial ecosystem and enhance digital inclusion across the region.
The MoU was signed by Majed Al Ghamdi, Executive Vice President of Government Digital Products at Elm, and Abdulwahed AlJanahi, Chief Executive of BENEFIT.
Majed bin Saad Al Arifi, Elm’s Official Spokesperson and Executive Vice President of Marketing, said the partnership underscores Elm’s strategy to expand its regional footprint and foster strategic alliances that advance secure digital financial services.
AlJanahi added that the integration with Elm will empower both organizations to develop efficient, reliable, and inclusive financial solutions, furthering Bahrain’s role as a FinTech leader in the GCC.
BENEFIT, a cornerstone of Bahrain’s FinTech ecosystem, continues to drive digital efficiency and strengthen collaboration between financial institutions and government entities. The partnership with Elm reinforces both organizations’ shared mission to promote innovation, security, and digital empowerment throughout the region.
