The BENEFIT Company
Ali Jaafar is a Finance Manager at The BENEFIT Company since May 2022, bringing extensive experience in finance and accounting roles. Prior to this, Ali served as an Assistant Manager - Finance and Senior Accountant at SINNAD from September 2018 to April 2022. Ali began the career as an Auditor at KPMG Bahrain from October 2014 to August 2018 and held the position of Accountant at Nibras Commission Agency for a brief period in 2014. Early professional experience includes working as a Purchasing Assistant at Bridge Industrial Services Company WLL. Ali Jaafar holds a Master of Science in Accounting and Finance from The University of Salford and is a member of ACCA, with additional certifications in financial management and cards and payment.
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The BENEFIT Company
The BENEFIT Company was formed to enable the financial sector in Bahrain to forge strong and lasting connections with their customers from across a wide geographical base. And help steer these connections towards enriching the value quotient in all their interactions with member banks and other stakeholders. As the key conduit for all electronic financial transactions throughout Bahrain, BENEFIT’s success has been made possible through a combination of skilled workforce, cutting edge technology, focused strategic planning and initiatives, and determination to provide the most modern financial service for those residing in Bahrain. BENEFIT was established in November 1997 by 17 commercial banks as the National ATM and Point of Sale switch of Bahrain. It was initially licensed by the Central Bank of Bahrain (CBB) to be ‘the provider of ancillary services for the financial sector,’ and soon expanded to cover markets outside Bahrain. BENEFIT’s range of services include operating of Automated Teller Machines (ATM), Point of Sale (POS), GCCNet supported by the GCC countries within the region connecting all ATMs and POS in the gulf, the GCCNet Dispute Management System, Credit Reference Bureau (CRB) for corporate and individuals customers, Telecom Bill Payment (Tele BP), Direct Debit (DD), Payment Gateway (PG), Internet Banking (IB), Bahrain Cheque Truncation System (BCTS) and Amex Cards withdrawal. In addition to varieties of outsourcing services offerings to local and region markets related to bank’s ATM processing, bank’s POS processing and Cards issuing and management through BENEFIT’s subsidiary “ SINNAD”. BENEFIT is administered by a Board of Directors who represents the shareholders. The company’s paid-up capital is to the value of BD 3.1 million (US$ 8.2 million approx.)