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Bahrain FinTech Bay (BFB), the largest FinTech hub in the Middle East and Africa, officially launched yesterday, with a special thanks to its founding partners.

BFB was founded with the vision of making it easier for Bahrain’s domestic FinTech ecosystem to collaborate with various established industry leaders and up-and-coming businesses from around the world on key projects. The ultimate objective is to bank on these collaborations to drive innovation and steady economic growth.

Interestingly, BFB itself is a result of collaboration among some founding partners that collectively represent a broad cross-section of the global financial services and technology sectors. Together, these founding partners will join forces with BFB to make Bahrain a leading force in the realm of financial technologies.

“Bahrain Fintech Bay will play a central role in growing the supportive ecosystem that is necessary for innovation to thrive. The facilitation of co-working and incubation, combined with Bahrain’s regulatory sandbox and focus on opening up access to funding, is creating an ideal environment for startups and corporates to test and then scale across the region,” said H.E. Khalid Al Rumaihi, Chief Executive of the Economic Development Board of Bahrain (EDB), during the launch of BFB.

BFB’s method will include working with its founding partners to make the most out of their combined resources in identifying, prioritizing, and addressing challenges that lay ahead of the homegrown FinTech industry.

Khalid Saad, CEO of Bahrain FinTech Bay said, “We are excited to open Bahrain FinTech Bay with the support of our founding partners who represent some of the world and region’s leading financial institutions. With their support, we look forward to facilitating collaboration across borders and between government, corporations and startups to accelerate innovation in the financial services sector both here and around the world.”