BisB launches digital account opening services to active without license sole proprietorships and Sijili CR holders

TDT | Manama
Email : editor@newsofbahrain.com

Bahrain Islamic Bank (BisB), a leader in providing innovative and simplified Islamic digital banking services in Bahrain, has announced an update to its Corporate Digital Onboarding service. The new feature allows individuals, company establishments, and "Sijili" CR holders to easily open accounts through BisB's Corporate Digital Banking platform.

This update complements BisB's previous digital offerings for the corporate sector and aligns with the Ministry of Industry and Commerce's (MOIC) directive requiring all commercial establishments in Bahrain to open unified commercial bank accounts by December 13, 2024. The onboarding process via BisB’s platform enables businesses to complete account registration in less than five minutes. A letter of formation is automatically issued and sent directly to the MOIC, making the commercial registration process quick and seamless.

In addition to this update, BisB provides a range of services including free corporate online banking, complimentary ATM cards, and various tools designed to simplify financial management for businesses.

Aqeel Mohammed Ghaith, Chief Corporate & Institutional Banking Officer at BisB, said, “We are proud to support the MOIC’s efforts in modernizing Bahrain’s business landscape by offering cutting-edge digital banking solutions. This initiative demonstrates our commitment to empowering enterprises with Sharia’a-compliant services that foster growth and success.”

BisB’s recent recognition as Bahrain's ‘Most Innovative Islamic Bank in Digital Corporate & Institutional Banking’ at the 2024 World Business Outlook Awards highlights the bank’s role as a trailblazer in the digital transformation of the financial sector. With over 80% of its business customers already registered with BisB Corporate Digital Banking and 96% of its transactions conducted through digital channels, the bank is well-positioned to meet the evolving needs of Bahrain's corporate clients and promote financial inclusion across the Kingdom.