Manama, Jan. 25 (BNA): The Social Insurance Organization (SIO) and BENEFIT signed a Memorandum of Understanding (MoU) to improve collaboration through data integration and exchange, with the goal of streamlining and expediting banking and financial processes for retirees and insured individuals in the private sector. The deal is a component of larger public-private sector collaborations aimed at enhancing the effectiveness and delivery of services.
Social Insurance Organisation, BENEFIT sign MoU
According to SIO CEO Sahar Rashed Al Mannai, the program advances digital transformation and process automation in support of the government’s efforts to improve the caliber and effectiveness of public services. She mentioned that several banks will begin offering the new service on February 1st.
According to BENEFIT CEO Abdulwahid Abdulrahman Al Janahi, the collaboration demonstrates a common dedication to creating cutting-edge digital finance solutions and bolstering the sustainability of financial services. He continued by saying that Benefit will use its digital skills to boost Bahrain’s standing as a major hub for digital financial services and increase the effectiveness of financial transactions.
