business bites Bahrainthismonth.com 58 September 2024 Beyon CEO, Andrew Kvalseth IBAN ALLOCATION FOR EXPATRIATES BOOSTS FINANCIAL INCLUSION IN BAHRAIN Ebdaa Microfinance Company CEO, Dr. Khaled Al-Ghazzawi, highlighted the significance of the initiative launched by the Labour Market Regulatory Authority (LMRA) in collaboration with the Central Bank of Bahrain (CBB) and the private sector in August. The initiative involves issuing International Bank Account Numbers (IBAN) for expatriate workers arriving in the Kingdom through Bahrain International Airport. The integration of new bank accounts is expected to have a positive impact on Bahrain’s banking sector and account holders while accelerating financial inclusion and Bahrain’s digital transformation efforts.” This will enable more individuals to access valuable and sustainable financial services, facilitating easier salary payments, fund transfers while benefitting from a wide range of banking services,” says Dr. Al-Ghazzawi. Dr. Al-Ghazzawi adds: “Drawing from our experience in Ebdaa Company, we underscore the importance of financial inclusion in reaching underserved segments, such as women and youth, who are often overlooked by traditional banks and financial institutions, in order to empower them and in time achieve sustainable economic development goals,” he concludes. Beyon has announced that Mikkel Vinter has retired from his role as Beyon CEO after a successful tenure of six years that ignited the digital transformation of the Beyon group. Andrew Kvalseth has been appointed as the new CEO effective August 25. Andrew Kvalseth brings over 20 years of international leadership experience in TMT, financial services, online marketplaces, e-commerce and digital transformation. He has held senior executive positions ranging from Chief Commercial Officer, Chief Investment Officer to CEO and Chairman, across a range of leading companies, including Telenor and Schibsted. Beyon Chairman, Shaikh Abdulla bin Khalifa Al Khalifa says: “Mikkel Vinter joined the company in 2019 and we embarked on an exciting journey to transform Batelco and launch Beyon. Thanks to Mikkel and his leadership qualities and vision we have succeeded in delivering remarkable performance and achievements in all areas of the business including telecoms, global connectivity, international investments, and digital growth.” “Andrew’s track record of achievements and experience in telecom, digital and investments, fits well with our vision and strategy for Beyon’s growth. This appointment is the next natural step in establishing a strong and experienced management team to lead Beyon towards its vision and meet the expectations of the Board and shareholders,” adds Shaikh Abdulla. Beyon has recently announced key appointments in its executive team. Maitham Abdulla was appointed as Batelco CEO, Shaikh Mohamed bin Khalifa Al Khalifa was appointed as Beyon Digital Growth CEO, Reem Altajer was appointed as the Chief Financial Officer, Jehan Hasan was appointed as Beyon Chief Strategy Officer, and Isa Alsabea as Beyon Chief Investment Officer. Today Bahrainis represent a majority of the Executive Management Team due to the ongoing succession planning executive development programmes. BEYON ANNOUNCES NEW CEO Beyon Chairman, Shaikh Abdulla bin Khalifa Al Khalifa Beyon former CEO, Mikkel Vinter
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