Zain FinTech, the financial services arm of the renowned Zain Group operating across the Middle East and Africa, has announced the debut of its innovative fintech brand, Bede (in my hand), marking a significant milestone in the region’s digital financial landscape. Bede, a Shariah-compliant fintech mobile app, offers seamless consumer microfinance services aimed at enhancing financial inclusion and revolutionizing the regional fintech ecosystem.
Bede’s commercial launch in Bahrain, in adherence to the Central Bank of Bahrain guidelines, heralds a new era of accessible and convenient financial services for consumers. The mobile app streamlines the microfinance application process, providing instant approvals based on applicants’ credit profiles, thereby simplifying access to much-needed funds with just a few taps.
Initially focusing on consumer microfinance, Bede intends to expand its suite of services, subject to local regulatory approvals and commercial considerations, to include payments, remittances, and credit cards, catering to diverse financial needs across Zain’s operational footprint.
The official launch event at the prestigious Ritz Carlton, Bahrain, witnessed the participation of esteemed dignitaries, including H.E. Shaikh Salman bin Khalifa Al-Khalifa, Minister of Finance and National Economy, and key executives from Zain Group. Attendees had the opportunity to experience firsthand the dynamic features and capabilities of Bede, reaffirming its potential to transform the financial landscape of the region.
Bader Al-Kharafi, Vice-Chairman and Group CEO of Zain, highlighted the strategic significance of Bede’s launch in alignment with the company’s ‘4Sight’ strategy aimed at expanding fintech services across the region. He emphasized Bede’s role in driving financial inclusion and advancing the digital ecosystem, underscoring Zain’s commitment to leveraging technology to address evolving consumer needs beyond traditional telecom services.
Al-Kharafi expressed gratitude to the Central Bank of Bahrain for granting Bede the necessary license and fostering an environment conducive to innovation in the financial sector. He commended the efforts of the fintech teams at Zain and Bede for their dedication in realizing the vision of making financial services accessible, efficient, and inclusive for all segments of society.
With Bede’s launch, Zain FinTech reaffirms its position as a catalyst for digital transformation and financial empowerment, paving the way for a more inclusive and digitally-driven financial landscape across the Middle East and Africa. As Bede expands its offerings and reaches new markets, it promises to redefine the way consumers engage with financial services, empowering individuals to manage their finances conveniently and securely, all from the palm of their hand.