BCFC and Codebase Technologies to disrupt Bahrain’s $30bln lending industry

BCFC and Codebase Technologies to disrupt Bahrain’s $30bln lending industry

Manama, Bahrain – Bahrain Commercial Facilities Company (BCFC), known as BCFC, has launched its cloud-based credit and lending app, Sahel, in Bahrain. Developed in collaboration with strategic technology partners Codebase Technologies and Atyaf eSolutions, the app will enable BCFC to expand its already successful credit and lending business to new markets and client segments through digital experiences.

Bahrain has witnessed intense mobile phone penetration in recent years, hitting 142.1% in 2023 and a 99% internet penetration1, creating fertile ground for digital initiatives to thrive. Additionally, as per a report by the Central Bank of Bahrain, the outstanding total loans and credit facilities provided to resident economic sectors in Bahrain increased to BD11.3 billion ($29.97 billion) at the end of May 2022, an increase of 5.7% compared to the end of May 20212.

"We are delighted to announce the official debut of our latest application, 'Sahel,' representing a pivotal milestone in both our company's journey and the broader landscape of digital financial services in the Kingdom of Bahrain, and underscoring our commitment to innovation and the advancement of financial solutions in the digital era,” commented Abdulla Bukhowa, CEO of BCFC.

BCFC's Sahel app empowers customers to digitally onboard and apply for credit cards, loans,