In Bahrain, the two digital giants signed a Memorandum of Understanding to jointly create advanced digital financial solutions and promote FinTech growth in the region.

The Bahrain Electronic Network for Financial Transactions (BENEFIT), the Kingdom's pioneer and top provider of Fintech and electronic financial transactions services, and Elm, a prominent provider of digital solutions, have inked a Memorandum of Understanding.

The signing happened on the fringes of the Gateway Gulf Investment Forum 2025, which was hosted from November 2–3, 2025, in the Kingdom of Bahrain. The agreement intends to investigate areas of cooperation between the two parties in a number of strategic domains, such as the creation of shared digital services, facilitating digital onboarding for financial services, and developing creative solutions that improve the financial sector's digital empowerment.

Mr. Abdulwahed AlJanahi, CEO of BENEFIT, and Mr. Majed Al Ghamdi, Executive Vice President of Government Digital Products at Elm, signed the Memorandum of Understanding.

According to Mr. Majed bin Saad Al Arifi, Elm's Executive Vice President of Marketing and Official Spokesperson, this relationship is a continuation of Elm's efforts to fortify its regional footprint and establish strategic partnerships with top FinTech companies. Additionally, this partnership with BENEFIT demonstrates the synergy between the two organizations' expertise in developing safe digital financial services, opening the door for creative solutions that benefit both individuals and businesses while enhancing Elm's standing as a reliable digital enabler in the area.

Mr. Abdulwahed AlJanahi confirmed that BENEFIT hopes to expand its network of regional and global partnerships in the domains of FinTech and digital services through this partnership, pointing out that the integration with Elm will enable both organizations to create dependable and effective solutions that improve the financial sector and promote digital inclusion across the region.

One of the major organizations advancing Bahrain's FinTech ecosystem is BENEFIT, which promotes digital efficiency and makes it easier for financial institutions and the government to integrate their services. This cooperation demonstrates Elm's continued dedication to creating high-impact regional alliances with top digital service providers, encouraging knowledge sharing, and stimulating innovation in regional markets.