Bahrain’s Rain Management, the first licensed crypto-asset service provider in the Middle East, announced the appointment of Talal Al Zain as the newest board member. Bringing over 35 years of experience in banking and financial services internationally, his wealth of knowledge in international finance has asserted him as a business leader throughout the region.
Commenting on his new position, Talal Al Zain said: “It is an honor and a privilege to join the board of Rain Management. The company is leading the way in cryptocurrency in the region, and I believe will be able to add value in the exciting next steps of the company.”
According to a press release, Talal Al Zain has helped establish and grow multiple businesses, build diverse teams, and deliver bottom-line results in his previous career. He currently sits on various board committees and has recently joined Rain Management W.L.L. as an independent board member, advising the company in decision-making to bring forward a trusted platform to the region.
Rain Financial Inc. was founded in 2017 by Abdullah Almoaiqel, AJ Nelson, Joseph Dallago, and Yehia Badawy. Rain Financial Inc. currently has subsidiaries in Bahrain, Turkey, and the UAE.
Bahrain-based Rain Financial Inc.’s subsidiary, Rain Management W.L.L., received the first license as a crypto-asset service provider by the Central Bank of Bahrain (CBB) in 2019. The Group’s mission is to bring forward a trusted platform to all customers in the cryptocurrency space as a safe platform to buy, sell and store approved cryptocurrencies.
Last month, the world’s leading crypto exchange Binance received in-principle approval from the CBB to establish itself as a crypto-asset service provider in the Kingdom of Bahrain. If the Bahrain application is approved, it will be Binance’s first regulatory approval in the MENA region.