How Bahrain is taking on the fintech challenge

      Published on Friday, 22 June , 2018      651      
How Bahrain is taking on the fintech challenge

  • Technology

For decades, tiny Bahrain – population 1.5 million – has punched above its weight in the banking and financial services industry, rivalled only relatively recently in the Gulf by regional powerhouse Dubai.

But rather than rest on its laurels, the small Gulf kingdom is striving to be on the cutting edge of the transformations being brought on by financial technology – more popularly known as fintech.

Nowhere is this more evident than in Bahrain FinTech Bay.

Launched in February 2018, Bahrain FinTech Bay – housed in the ultra-modern and undeniably striking Arcapita Building – has a threefold aim: accelerating local early-stage fintech companies to their next stage of development; attracting foreign growth-stage fintech companies to establish regional offices in Bahrain and facilitate their expansion in the GCC; and creating a physical hub for co-creation and the sharing of resources and ideas.

“I think it’s been a pretty good start,” says FinTech Bay’s youthful, British-educated CEO, Khalid Saad. “It’s been only just a few months since launch, but what we’ve started to see is that there is a much bigger engagement with stakeholders in the ecosystem. There are a lot of digitalisation and fintech-related initiatives that have kicked off already.”

Category Technology | 2018/06/22 latest update at 1:49 AM
Source : Arabian Business | Photocredit : Google
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