Bahrain FinTech Bay (BFB) has appointed a new board of directors, following an acquisition by national payments network BENEFIT.
The new board is led by chairman Abdulwahed AlJanahi, who is the CEO of BENEFIT while Deputy CEO Yousif Al Nefaie assumes vice-chairmanship. Members of the board include BENEFIT CFO Layla Al Qassab; assistance general manager of marketing and communications Nezar Maroof; Hessa Husain, the assistant general manager of Bahrain Credit Reference Bureau; Rashad Faraj, the executive director of special projects at Bahrain Economic Development Board (EDB); and Dalal Buhejji, the executive director of financial services business development of EDB.
Last month, BENEFIT signed a definitive agreement to acquire BFB as part of its long-term roadmap and service expansion plan. Since its inception, BFB has incubated at least 116 start-ups.
“Moving forward, BFB will maintain its commitment to supporting impactful fintech initiatives across the sector by delivering bespoke acceleration framework and innovation labs, future proofing local talent through securing leading international fintech education programs,” BFB said during the acquisition announcement. “Moreover, BFB will continue to provide curated corporate advisory services, conducting comprehensive in-depth research and developing data-driven strategies to its fintech partners on a project basis.”