Bahrain - Beyon Money, part of the Beyon Group, has won a new licence from the Central Bank of Bahrain, enabling the company to introduce new services.

Central Bank of Bahrain (CBB) Governor Rasheed Mohammed Al-Maraj issued the decision to grant Beyon Money a Class 2 investment company licence which will allow Beyon Money to offer a range of new services, Beyon Money said.

Beyon Money CEO Roberto Mancone commented: “We extend our appreciation to His Excellency Al-Maraj and the Central Bank of Bahrain for their ongoing invaluable support. The new licence enables us to introduce exciting new products for our customers in the near future.

”We are committed to continuously enhance the Beyon Money Super App, providing customers with cards, remittance, open banking, personal financial managment and more. With the addition of the Class 2 Investment licence, Beyon Money is the only fintech in Bahrain that facilitates a suite of services for everyday financial requirements with six different licenses granted by the CBB,” Mancone added.

Beyon Money, launched in January 2022 to operate in Bahrain through three financial services regulated entities by Central Bank of Bahrain: Batelco Financial Services, Batelco Remittance Services and Beyon Money Investments. In the first five months of 2023, it achieved significant growth equal to six times the volume of domestic and international payments and 10 times the number of customers compared to the same period in 2022, it said. 

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