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Saturday, July 20, 2019

Mastercard Inaugurates First Office in Bahrain

Opening of a dedicated office reinforces Mastercard’s commitment to strengthening its presence in the wider Middle East & Africa region

 Mastercard, a leading technology company in the global payments industry, has inaugurated its first dedicated office in the Kingdom of Bahrain. The move comes as part of its ongoing commitment to the market and drive to provide strong on-ground support to partners across the wider Middle East and Africa region.

To mark the occasion, Mastercard organized an exclusive event for its key stakeholders in Bahrain, where senior Mastercard executives including Raghu Malhotra, President, Middle East and Africa and Khalid Elgibali, Division President, Middle East and North Africa, hosted Mr. Khalid Al Rumaihi, Chief Executive of Bahrain Economic Development Board (EDB), among other local customer banks and officials.

“Mastercard has a long and rich history with the Kingdom, and the opening of our first dedicated office further cements our footprint in the market as we get ever closer to our local partners. We have a robust expansion and growth strategy in place for the region, and the establishment of our formal presence is a key pillar as we look to further meet the market-specific needs of our customers. We look forward to leveraging our global and local expertise and innovation capabilities to roll out world-class payments technologies in this market alongside our partners,” said Raghu Malhotra, President, Middle East and Africa, Mastercard.

“As a prominent financial center in the region, Bahrain is making great strides towards becoming a fintech hub, and through our tailored products and payments solutions, we are excited to play an active role in the future growth and development of the payments sector in the Kingdom,” added Khalid Elgibali, Division President, Middle East and North Africa, Mastercard.

Mr. Khalid Al Rumaihi, Chief Executive of the Bahrain EDB, said: “With our supportive ecosystem, mature regulation and sound governance, as well as a longstanding history as a regional financial center, the financial services industry in the Kingdom is one which continuously evolves to meet the needs of the region. We see many exciting opportunities within the industry, and particularly rapid growth in the Fintech sector, and we are delighted to welcome Mastercard to Bahrain, and its new payments solutions to the market.”

Mastercard’s decision to open its Bahrain office and follow through with it was influenced by EDB’s catalytic role throughout the registration process and the access gained to important local industry players. The office will operate under the name: Mastercard Singapore Holding Pte Ltd – Bahrain Representative Office.

The commencement of Mastercard’s formal operations in Bahrain follows the opening of a dedicated office in Pakistan in late 2016.

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