Al Baraka Islamic Bank signed an agreement with Beyon Connect, one of Beyon’s companies, to adopt the Developed Electronic Key for Business (EKEY-B) system, which is a national system for digital identity verification within the Know Your Customer (eKYC) system for the private sector and based on user consent.
The agreement was signed by Mr. Christopher Heald, CEO of Beyon Connect, and Dr. Adel Abdullah Salem, CEO of Al Baraka Islamic Bank, at Beyon’s headquarters in Hamala, in the presence of Mr. Hisham Al Hashemi, Director of the Government Systems Support and Maintenance Department at the Information and e-Government Authority, along with a number of officials from Beyon, Al Baraka Bank, and the Information and e-Government Authority.
In light of this agreement, Al Baraka Islamic Bank is considered among the first financial and banking institutions in the Kingdom of Bahrain to join the EKEY-B system, which adopts advanced biometric authentication services and secure digital registration processes to provide a seamless banking experience without the need for traditional passwords.
This step comes as an affirmation of Al Baraka Islamic Bank’s keenness and its strategic role in enhancing digital services in accordance with compliance with the provisions of Islamic Sharia and the Personal Data Protection Law in the Kingdom, and in line with the highest standards of information security, regulatory regulations, and privacy protection.
For his part, Beyon Connect CEO, Mr. Christopher Heald, said: “We are pleased to welcome Al Baraka Islamic Bank to the EKEY-B system, as this partnership reflects the banking sector’s confidence in the digital verification system as a safe and seamless way to interact with customers. Through our combined efforts, we are building a reliable digital future that benefits both customers and institutions.”
Dr. Adel Abdullah Salem, CEO of Al Baraka Islamic Bank, also stated: “Adopting the advanced electronic key for business represents a pivotal step in our journey towards digital transformation. Through our cooperation with Beyon Connect, we will be able to provide faster, safer and more accessible banking services to our customers, while maintaining our full commitment to keeping pace with regulatory aspects and compliance standards.”
On this occasion, Dr. Khaled Al-Mutawa, Executive Vice President of Operations and Governance at the Information and e-Government Authority, welcomed Al Baraka Islamic Bank’s joining the process of digital transformation of the identity verification system by adopting the advanced electronic key for business (EKEY-B), stressing that this step reflects the compatibility of the private sector with the vision of the Kingdom of Bahrain in providing secure, customer-centric digital services. The Information and eGovernment Authority is also keen on its continued commitment to enhancing the scope of access to the reliable infrastructure for digital identity verification, which contributes to facilitating access to services, ensuring compliance with regulatory regulations, and enhancing customer confidence.”
Beyon Connect provides the EKEY-B service in cooperation with the Information and e-Government Authority, which allows private sector organizations to benefit from the features of eKey 2.0, access the electronic know your customer (eKYC) system, and enhance biometric authentication through a secure model based on user consent, which helps reduce the risks of fraud and enhance compliance with regulatory regulations.
The continued expansion of the adoption of the eKey 2.0 system and the EKEY-B system across various sectors such as finance, communications and insurance, strengthens the Kingdom of Bahrain’s position as a leading center for innovation in digital identity verification solutions, in line with the Kingdom’s vision of building a safe and inclusive digital economy.
