Bahrain’s labour fund Tamkeen has partnered with Tarabt Gateway, a leading open banking solutions platform, to launch International Bank Account Number (IBAN) validation services to facilitate transactions for individuals and businesses who are beneficiaries of Tamkeen’s services.
In line with its commitment to leveraging operational innovation and enhancing productivity and development through partnerships with the private sector, Tamkeen is the first government agency to collaborate with Tarabut.
By leveraging Tarabut’s advanced technology, Tamkeen has ensured a robust solution that minimizes potential transaction issues. The service eliminates the need for manual certificate attachment and allows clients to easily validate IBANs, saving time, reducing errors and ensuring seamless payments, the statement said.
Najma Al Wadi, Chief Technology Officer at Tamkeen, said: “Tamkeen is constantly looking for new ways to add value to the services we provide to our beneficiaries, including individuals and businesses. Our strategic partnership with Tarabt Gateway demonstrates Tamkeen’s commitment to driving the digital transformation of government services and leveraging our advanced technological know-how to deliver innovative, user-friendly solutions, which can provide a more efficient and superior customer experience. We are also now developing a separate initiative in partnership with Tarabt to verify wage support remittances, which will help facilitate remittances more effectively.”
Abdullah Almoayed, founder and CEO of Tarabut, added: “We are pleased to work with Tamkeen and support their vision of accelerating the digital transformation of government services. Tamkeen’s commitment to adopting technology is fully aligned with our mission of empowering businesses and individuals through advanced digital solutions. We are confident that this new service will be welcomed by all users and will make Tamkeen’s services more efficient and accessible to all.”
The effort is in line with Tamkeen’s 2024 strategic priorities, which focus on economic impact and the private sector under three pillars: increasing economic participation through employment opportunities for new entrants, expanding career development opportunities available to Bahrain’s workers, and further developing the private sector by supporting businesses to boost productivity and technology adoption, the ministry said.
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