Bank of Bahrain and Kuwait joins Binance's Link Program in MOU agreement

The Bank of Bahrain and Kuwait (BBK) has become the first Gulf Cooperation Council banking institution to join the Binance initiative. As part of the plan, the program aims to support enterprises in building crypto services through Binance's technology, while earning trading fees as commission.

BBK signed a Memorandum of Understanding (MoU) to participate in the Binance Link Program during the Gateway Gulf Investment Forum Bahrain 2025, which concluded on Monday. The event saw participation from government officials, investors, and business leaders who discussed strategies to improve financial innovation in the Gulf Council region.

According to BBK's press statement, the bank intends to integrate Binance’s white-label Crypto-as-a-Service (CaaS) solution directly into its mobile banking app. Through plug & play APIs, BBK customers will be able to buy, sell, and manage their crypto holdings without the need for separate Binance accounts.

Notably, a dedicated dashboard inside BBK’s mobile app will allow users to view their digital assets alongside their traditional account investments. This initiative aligns with Bahrain's vision to enhance its standing as a financial hub through strong fintech adoption. BBK believes this collaboration will streamline their banking systems by incorporating digital assets within a user-friendly platform.

Yaser Alsharifi, BBK’s Group Chief Executive, highlighted the bank’s focus on providing secure investment opportunities for its customers. Meanwhile, Tameem Al Moosawi, General Manager of Binance Bahrain, praised the partnership, calling it a boost to Bahrain’s leadership in crypto-asset innovation.

Furthermore, Catherine Chen, Binance’s Head of VIP and Institutional Business, emphasized the growing demand for crypto services in the GCC region. She remarked, "We are pleased to collaborate with BBK to help them offer these assets to their clients at scale, unlocking new growth potential."

The Binance partnership coincides with a separate MoU signed between BBK and ATME, a digital asset exchange licensed by the Central Bank of Bahrain. This partnership was announced during the FinTech Forward 2025 conference held earlier in October.

Under this agreement, BBK and ATME will explore tokenization opportunities using Distributed Ledger Technology (DLT) for asset management and investments. Mohamed Al Rayes, BBK’s General Manager of Treasury and Investment, stated, “Digitizing our investment offerings and using tokenization as a tool will create a smoother trading experience and increased liquidity for our clients.”

BBK recently announced its Q3 financial results, ending September 30, posting a net profit of BD 17.9 million for common shareholders after all expenses, taxes, and preferred dividends. The earnings per share rose by 8.5% to 10 fils, compared to 9 fils earlier.

The bank's total comprehensive income for owners surged by 115% to BD 44.5 million, up from BD 20.7 million in the same period last year. This growth was attributed to a 6.1% increase in net fees and commission income, which reached BD 5.2 million, despite a 72.6% decline in net provisions to BD 2 million.

BBK also reported a BD 0.3 million profit from associates and joint ventures, countering a BD 0.1 million drain from the previous year. Total assets rose by 9.6% to BD 4.6 billion as of September 2025, showcasing robust financial health.