Tamkeen and Tarabut launch the international bank account verification service in Bahrain

The Labor Fund “Tamkeen” has announced the launch of the International Bank Account Number (IBAN) verification service in collaboration with “Tarabut”, the leading platform in open banking services, aiming to facilitate transactions for individuals and institutions benefiting from Tamkeen’s programs.

This step comes within Tamkeen’s commitment to employ innovation in its daily operations and enhance partnerships between the public and private sectors to boost productivity and support development efforts.

The new service provided by Tamkeen in collaboration with Tarabut aims to ensure smooth transaction processes, allowing customers to verify IBAN without the need for printed certificates. This increases the accuracy of information, reduces potential errors, and ensures the speed and smoothness of operations and payments, saving time and effort.

In this context,  Najma Al Wadi, Chief Technology Officer at Tamkeen, affirmed the fund’s commitment to enhancing a culture of digital transformation and providing innovative and user-friendly solutions for customers, along with developing new initiatives in collaboration with Tarabut to accelerate and facilitate financial transactions.

On his part, Abdullah Al Muayed, Founder and CEO of Tarabut, expressed his pleasure in collaborating with Tamkeen and supporting its vision to achieve digital transformation in government services, affirming Tarabut’s commitment to providing advanced technological solutions to facilitate financial transactions for individuals and institutions.

This announcement comes within the priorities of Tamkeen for the year 2024, which include increasing the rate of economic integration and supporting the career development of Bahrainis, as well as enhancing the private sector through supporting institutions and adopting technology, thus enhancing economic impact and supporting sustainable growth

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