BENEFIT reports a net profit for the financial year ended on December 31st 2021

BENEFIT reports a net profit for the financial year ended on December 31st 2021

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions services held its Annual General and Extraordinary General Meeting earlier this week, held at Benefit Company’s head office in Seef District, Bahrain. The Group has reported a net profit for the financial year ended on December 31 2021 with a net profit of BD 715,497 for the group comparing to 1,434,096 in 2020. In addition to the company’s financial performance, BENEFIT announced a massive increase of online payment transactions in 2021. Over 159 million payments were made through the Electronic Fund Transfer System (EFTS) increasing by 164% with the total value exceeding 20 billion Bahraini Dinars for the year 2021 in comparison to 16 billion Bahraini dinars in 2020, which is an increase of 26% During 2021, BENEFIT’s main focus was on major announcements of new services which included the launch of the e-Cheque service, obtaining a license for trust services and e-signature from the TRA and the remittance service for BenefitPay customers. During the meeting, BENEFIT held a discussion on the approval for the Corporate Governance report and compliance for the year ended 31st December 2021 per the requirements of the Central Bank of Bahrain and