Tamkeen, a leading private sector development specialist, has launched an innovative service to enhance financial transactions in Bahrain. This initiative marks a milestone in Bahrain’s journey towards a more efficient payment ecosystem, meeting the needs of both businesses and individuals.
Tamkeen, in partnership with Tarabut Portal, launched an IBAN confirmation benefit to ease transactions for individuals and enterprises. Tamkeen is the first regulatory entity to collaborate with Tarabut, demonstrating its commitment to operational improvements and efficiency through private sector associations.
By harnessing Tarabut’s advanced innovation, Tamkeen ensures a robust solution that minimizes potential trade issues. The service eliminates the need to manually submit certificates, enabling clients to easily verify their IBANs, saving time, reducing errors, and ensuring smooth payments.
Innovation Insights: Najma Al Channel, Tamkeen’s Chief Innovation Officer’s Perspectives
“Our partnership with Tarabut Door shows Tamkeen’s dedication to fostering digital transformation in government services and utilizing advanced technology to deliver innovative solutions, enhancing user experience. We’re also collaborating on a new initiative to streamline income tax transactions, facilitating transfers more efficiently.”
Insights from Abdulla Almoayed, Founder and CEO of Tarabut
“We are thrilled to announce our collaboration with Tamkeen to advance the digital transformation of government services. We believe that this new initiative will be embraced by all users, enhancing the efficiency and accessibility of Tamkeen services.”
This initiative aligns with Tamkeen’s 2024 priorities. It focuses on economic impact and the private sector across three pillars. These pillars entail increasing economic support through job opportunities for new entrants. Additionally, they involve expanding career development opportunities for the Bahraini workforce. Furthermore, they encompass promoting the growth of the private sector by backing investments, enhancing productivity, and fostering technology adoption.