Al Baraka Islamic Bank launches the advanced “SafeNet” solution for fraud prevention

Al Baraka Islamic Bank, the leading Islamic financial institution in the Kingdom of Bahrain, recently announced the successful implementation and operation of the SafeNet service, in partnership with Global Payment Services (GPS), a leading company for innovative payment solutions.

SafeNet is an advanced solution based on artificial intelligence to provide fraud protection and detection across various electronic channels. With the launch of this service, Al Baraka Islamic Bank has advanced capabilities to monitor and manage internet banking portals, mobile applications, payment portals and other electronic channels. SafeNet also allows the bank to analyze operations in real time, with the ability to block, suspend or edit financial transactions, ensuring compliance with Central Bank of Bahrain regulations.

With the launch of this service, Al Baraka Islamic Bank has been able to ensure the safety of a variety of payment operations, including Fawri, Fawri+, and internal money transfers, while enhancing customer confidence in the digital services provided by the bank.

On this occasion, Dr. Adel Abdullah Salem, CEO of Al Baraka Islamic Bank, said: “The successful launch of the SafeNet service reflects our commitment to providing safe, reliable and advanced financial services to our customers. Through this cooperation, we have strengthened our capabilities in detecting fraud and ensuring compliance with regulatory standards, ensuring Protecting our customers’ banking transactions.

In turn, Mr. Ali Arab, General Manager of the International Payment Services Company, commented: “We are proud to cooperate with Al Baraka Islamic Bank to implement the SafeNet solution, which relies on advanced artificial intelligence technologies to enhance the security of payments and prevent fraud. This achievement represents an important step that confirms our commitment to providing solutions.” Innovative payments that are compatible with the regulatory requirements of financial institutions in the region.”

It is worth noting that this partnership not only reinforces Al Baraka Islamic Bank’s commitment to excellence in financial security, but also represents an important turning point in improving the digital payments landscape within the Kingdom of Bahrain, which benefits consumers and businesses alike.

For more details, valued customers can visit Al Baraka Islamic Bank’s website www.albaraka.bh, visit the bank’s verified page on the Instagram application, or call 13300400. *Terms and conditions apply.