BFC Payments, a subsidiary of Al Ansari Financial Services PJSC and a leading digital payments and financial services provider in Bahrain, has entered a strategic partnership with the Labour Market Regulatory Authority (LMRA) to offer expatriate workers voluntary, instant access to digital financial services upon their arrival in the Kingdom of Bahrain.
This initiative is part of the Kingdom’s ongoing commitment to strengthening labour market systems and safeguarding the rights of all stakeholders through secure, accessible and inclusive financial solutions.
Through this partnership, expatriates arriving at Bahrain International Airport will be issued a BFC Payments digital wallet, which they may activate at their discretion. This initiative provides them with convenient, secure and inclusive tools to manage their finances with confidence.
The digital wallet comes with an International Bank Account Number (IBAN) and a comprehensive suite of services, including virtual card issuance, local and international transfers, QR code- based payments and utility bill settlements. It also offers a customized rewards programme with cashback, merchant discounts and additional benefits designed to support the everyday financial needs of expatriates.
H.E. Nibras Mohamed Talib, CEO of the Labour Market Regulatory Authority (LMRA) and Chairman of the National Committee for Combatting Trafficking in Persons, stated, “This partnership with BFC Payments marks an important step in further safeguarding the rights of all parties by ensuring immediate access to secure digital financial services. It also reflects the vital role of private sector collaboration in supporting the successful implementation of LMRA’s ongoing policies and strategies.”
Vineet Karumat, General Manager of BFC Payments commented, “We are proud to work alongside LMRA to deliver innovative and inclusive financial solutions that address real-world challenges. From the moment expatriates land in Bahrain, they will have the tools to participate in the economy, support their families and manage their finances with confidence and security.”
For more information about BFC Payments, visit www.bfcpay.com.