Zain FinTech, the financial services arm of Zain Group, a leading provider of innovative technologies and digital lifestyle communications operating in eight markets across the Middle East and Africa, announces the launch of its new fintech brand, Bede (in my hand).
Commercially launched first in Bahrain as per the Central Bank of Bahrain guidelines, Bede is an innovative Shariah-compliant fintech mobile app offering a seamless and convenient consumer microfinance service in just a few taps. Applicants can download the app, receive instant, hassle-free approvals based on their credit profile, thereby making accessing funds they require easier than ever. In due course, subject to local regulatory and commercial considerations across Zain’s footprint, the range of services offered by Bede will extend from beyond consumer micro-finance to also include payments, remittances and credit cards.
The official launch event of the Bede brand in Bahrain marks a significant milestone in Zain FinTech’s journey across its footprint and the Kingdom’s digital landscape, with the aim to drive financial inclusion and revolutionize the growth of the regional fintech ecosystem.
The launch ceremony at the Ritz Carlton, Bahrain was attended by the Kingdom’s Minister of Finance and National Economy, H.E. Shaikh Salman bin Khalifa Al-Khalifa; Zain Group Chairman, Osamah Al-Furaih; Zain Vice-Chairman and Group CEO, Bader Al-Kharafi; Zain Bahrain Chairman, H.E. Shaikh Ahmed bin Ali Al-Khalifa; and Zain Group board members, other key stakeholders, industry experts, and government officials, who witnessed first-hand the dynamic features of Bede.
The launch of the new fintech brand Bede, first in Bahrain is another milestone of the Board of Director’s initiated ‘4Sight’ strategy and vision to expand much-needed fintech services in Iraq, Jordan, Saudi Arabia and soon in Kuwait and Sudan. The expansion of innovative fintech services drives financial inclusion and advances the region’s digital ecosystem, supporting the socio-economic visions of the countries we serve.
Bede aims to allow everything to be made in the palm of one’s hand, catering to consumers’ lifestyles and emerging demands beyond basic telecom services. The introduction of a new fintech brand represents a major step in Zain’s strategic aspirations to expand its regional leadership in the fintech arena supported by our footprint, customer base, and leading technologies.
The Central Bank of Bahrain (CBB) for granting Bede a license and for its efforts to promote innovation in the financial sector in line with the Kingdom’s 2030 economic vision. I also thank and recognize the efforts of the fintech teams at Zain and Bede, in realizing this opportunity and embracing a future where financial services are accessible, efficient, and inclusive for all.
Bader Al-Kharafi, Chairman, Zain Bahrain
