The Central Bank of Bahrain in a strategic partnership with “Ary for Innovation” to enhance the efforts of digital transformation

The Central Bank of Bahrain concluded a strategic partnership with the “Ari Innovation”, one of the local property companies, with the aim of accelerating the pace of its initiatives in the field of digital transformation. The strategic agreement was signed in the presence of His Excellency Mr. Khaled Ibrahim Humaidan, Governor of the Central Bank of Bahrain, and His Excellency Sheikh Abdullah bin Khalifa Al Khalifa, CEO of Mamkalakat Company, on the sidelines of the “Financial Services Prospects: Intensifying efforts in digital transformation”, which was organized in cooperation with the Economic Development Council in Bahrain.

According to this agreement, Ari Innovation Company will provide the bank with strategic advisory services and professional services to develop and implement effective technical initiatives, based on its global experience in the areas of digital payments, artificial intelligence, and cloud solutions.

Commenting on this partnership, Mr. Mohamed Abdel Karim, Executive Director of Administrative Services at the Central Bank of Bahrain said: “We are pleased to work with a partner whose experiences and capabilities are compatible with the development of technical solutions with our institutional vision of innovation and organizational growth, and our continuous efforts to establish and develop a strong digital environment for the financial services sector. Through this partnership that combines the public and private sectors, we aspire to advance our capabilities Technology, strengthening our technology infrastructure, and contributing this to enhancing Bahrain’s position as a leading regional financial center. “

For his part, Mr. Alaa Saeed, CEO and founder of the “Ary for Innovation” company, commented: “We are proud to support the Central Bank of Bahrain in this strategic march. Our team will work closely with the bank’s cadres to provide effective solutions that make a tangible impact, and bear fruit in achieving the Kingdom’s ambitions towards digital empowerment and economic diversification. This partnership also confirms the extent of our commitment to support Promising local technical talents, and our efforts to contribute to our role in creating a national economy based on innovation. “