UAE-based finance comparison site compareit4me.com has launched "bahrain.compareit4me.com", for consumers in Bahrain.

The website seeks to facilitate search, comparison and application for financial products such as bank accounts, credit cards, car loans, home finance and personal loans being offered by local and international banks operating in Bahrain, said a report in the Gulf Daily News (GDN), our sister publication.

Compareit4me.com chief executive Jon Richards said the company's debut in Bahrain was "a significant opportunity to tap a promising yet underserved consumer base".

"Bahrain, the first GCC country to join the SWIFT network in 1987, has a steadily rising banked population spurred by the country's improving payments structure.

"Finding any form of finance can be difficult and we strongly believe that consumers should always research and compare all the financial products available in the market before they apply."

Richards said he believes that comparison sites not only cater to the needs of consumers across the region, but also contribute to the growth of the banking sector.

"In the UAE, for example, our website receives more than 120,000 users per month, translating to more than 20,000 applications for banks.

"We are confident that by connecting institutions with informed consumers, we will be able to generate significant exposure for Bahrain banks in addition to helping consumers find the best products to suit their needs," he said. - TradeArabia News Service