Manama, November 3, 2025
Elm, a pioneer in digital solutions, signed a Memorandum of Understanding (MoU) with Bahrain's Electronic Network for Financial Transactions (The BENEFIT Company), a leading provider of financial technology and electronic transaction services in the Kingdom of Bahrain. The signing took place on the sidelines of the Gateway Gulf Investment Forum 2025, held in the Kingdom of Bahrain from November 2–3, 2025.
The MoU aims to explore potential areas of collaboration between the two parties across several strategic domains, including the development of joint digital services, enabling digital onboarding processes for financial services, and creating innovative solutions that strengthen the digital empowerment of the financial sector.
The agreement was signed on behalf of Elm by Majid Alghamdi, Vice President of Digital Government Products, and on behalf of Benefit by Abdulwahed AlJanahi, Chief Executive.
Majid Saad AlArifi, Elm's Spokesperson and Vice President of Marketing, emphasized that the MoU reflects Elm's ongoing efforts to expand its regional footprint and build strategic partnerships with leading fintech organizations, noting that the collaboration with Benefit embodies a synergy of expertise in digital enablement and secure financial services, paving the way for innovative solutions that serve individuals and institutions alike while reinforcing Elm's position as a trusted digital enabler in the region.
Abdulwahed AlJanahi stated that “Benefit" seeks through this partnership to broaden cooperation with regional and international partners in the areas of financial technology and digital services, highlighting that the collaboration with Elm will allow both entities to develop more efficient and reliable solutions that support the financial sector and promote digital inclusion across the region.
Benefit has played a leading role in shaping Bahrain's fintech ecosystem, driving initiatives that enhanced the efficiency of digital transactions and improved integration among financial institutions and government entities. The collaboration with Elm aligns with Elm's commitment to forging high-impact partnerships with regional digital leaders, fostering knowledge exchange, and expanding the horizons of innovation across regional markets.