SADAD Bahrain Signs an Agreement with Safaghat

SADAD Bahrain, Manama - Kingdom of Bahrain: SADAD, the Kingdom’s most trusted innovative payment channel, has recently signed an agreement with Safaghat to enable their clients to invest in open deals through SADAD channels located across Bahrain including kiosks and SADAD mobile app.

Mr. Mohammad Al Binmohammad, the Business Development Manager at SADAD, said: "We are pleased to have Safaghat join our expanded network of partners. The core mandate of this agreement is to provide Safaghat customers the ability to pay easily & conveniently by facilitating and streamlining the payment mechanism using extensive payment channels of SADAD.”

Elaborating on the partnership, Mr. Husain Sayed, CEO of Safaghat said: “We are glad to extend a partnership with an innovative and leading company like SADAD to enable our investors to find more innovative and easier ways to participate in the different investment opportunities across the kingdom. We are certain that this will add a much better customer experience to our continuous efforts to make Safaghat a platform of choice for every investor”.

About SADAD:

SADAD is a leading FinTech company in Bahrain providing a comprehensive digital payment platform & implementing a variety of innovative products to make payments easier & convenient. Established in 2010, SADAD Electronic Payment System BSC is licensed and regulated as an Ancillary Payment Service Provider by the Central Bank of Bahrain. SADAD became known as a one-stop payment channel, offering customers an easy and user-friendly interface fully integrated with top entities across the Kingdom of Bahrain, providing customers with convenient payment methods. SADAD is (PCI-DSS) certified in recognition of its strict adherence to guidelines that safeguard consumers’ payment transactions through added reliability and security measures.

About Safaghat:

Safaghat company is one of the first crowdfunding operators in the Kingdom of Bahrain and a leading one in providing finance-based funding for its customers. It has onboard very experienced board members that have an extensive experience in the sectors of banking and finance, FinTech, and running successful startups. In parallel Safaghat leadership team got all the right talents and qualifications to run this innovation with continued support and cooperation from the Central Bank of Bahrain (CBB). Safaghat graduated successfully from the sandbox environment in Jan 2022 and got its final license in Sep 2022.

We developed and currently operate our company Safaghat with Bahraini calibers and our ultimate goal is to focus on two services: encouraging the businesses and mainly the SMEs to get the right finance, usually short-term, to support their operations and growth, and to boost this ecosystem after carefully choosing the right projects to finance, and safeguard also our investors best interest. Secondly, it provides very appealing opportunities for the public with affordable investment amounts where they can chip in easily.

We at Safaghat would like to invest in a sector in the local market to attract more local and GCC investors, as the Kingdom enjoys a very reputable financial ecosystem (particularly in the Fintech industry), supported always by a sound regulatory system.

Safaghat started as conventional lending, however, recently we were privileged to work with our esteemed scholar Shaikh Osama Bahar, to start a smooth conversion of our operations to a shariah-compliant lending operation.