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Central Bank of Bahrain introduces payment oversight framework

Central Bank of Bahrain (CBB) has published the Financial Market Infrastructures (FMIs) and Payment Oversight Framework to, among others, promote innovation, enhance transparency as well as boost the reliability and resiliency of the Kingdom's financial system.

Bahrain FinTech Bay reveals new board of directors

Bahrain FinTech Bay (BFB) has appointed a new board of directors, following an acquisition by national payments network BENEFIT.

GIG Bahrain Takaful partners with fintech app Beyon Money

Takaful International Company (GIG Bahrain Takaful) has partnered with digital money app Beyon Money, launching a joint promotional campaign.

Lighting and Rain creating a storm with new collaboration

Shariah compliant crypto assets platform Rain has partnered with Lightspark to integrate and offer the bitcoin Lightning Network, allowing users to execute real-time transactions at reduced fees.

CIBAFI and SCA train Islamic banks in digital transformation

The Securities and Commodities Authority (SCA) of the UAE has collaborated with the General Council for Islamic Banks and Financial Institutions (CIBAFI) to run the ‘Digital Transformation Strategy in Islamic Financial Institutions’ workshop,.

Bahrain releases new regulatory framework for digital tokens

The Central Bank of Bahrain (CBB) has has amended its digital assets framework, following a consultation process with industry stakeholders, to include virtual token...

Rain’s Bahrain general manager joins Bahrain FinTech Bay’s advisory board

Mohamed Khalid Ateeq, the general manager of Shariah compliant crypto exchange Rain, has been appointed to the advisory board of Bahrain FinTech Bay, a fintech hub located in Manama.

Rain abolishes trading fees to expand market share

Halal cryptocurrency exchange Rain has introduced 0% trading fees, one of the most competitive fee structures in the region, in a bid to expand its Middle Eastern customer base.

Rain strengthens expansion agenda with ADGM’s in-principle approval for FSP

The Middle East’s first licensed Islamic crypto exchange, Rain, has secured an in-principle approval (IPA) for a financial services permission (FSP) from the Abu...

Rain closes US$110 million Series B round

Bahrain-licensed cryptocurrency exchange Rain has raised US$110 million in Series B funding which it will use to support its expansion plans into Turkey, Pakistan and the rest of MENA.

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