BENEFIT and JoPACC sign MoU to support key financial technology and innovation initiatives

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Bahrain

BENEFIT and JoPACC sign MoU to support key financial technology and innovation initiatives

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- Inline with BENEFIT’s key focus to foster collaboration, share expertise and collaborate with like-minded institutions to solidify MENA's presence and position when it comes to the FinTech industry.

Manama, Kingdom of Bahrain - BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, signed a Memorandum of Understanding with the Jordanian Payment and Clearing Systems Company (JoPACC). The key focus of the MoU is to foster collaboration, explore collaborative initiatives, and participate in the programs part of the Jordan Innovation Fintech Incubator ‘JOIN Fincubator’; the first fintech innovation incubator of its kind in Jordan, which was launched last year at the MENA ICT Forum.

According to the terms of this memorandum, both companies will unite their resources to create and deliver digital financial services, leveraging their expertise and technological capabilities. It will also involve the formation of a steering committee composed of team members nominated by both parties that will work to discuss topics of cooperation in the areas of financial technology innovation.

The Central Bank of Jordan and JoPACC recently announced the establishment of the Jordan Innovation FinTech Incubator ‘JOIN Fincubator’, in line with their commitment to address financial stability, foster an advanced financial infrastructure, and increase

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