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The Central Bank of Bahrain (CBB) officially unveiled its homegrown virtual FinTech platform, Finhub 973, earlier this week. This is a milestone achievement for CBB considering that it is the first-of-its-kind FinTech platform not just in Bahrain, but across the broader region.

The CBB launched this new venture in collaboration with the Bahrain Economic Development Board (EDB), ila Bank, Bank ABC, Bahrain Islamic Bank, and National Bank of Bahrain. 

At the core of the new platform is FinX22, a sophisticated, open, cloud-based financial services platform designed and developed by FinTech Galaxy, a digital crowdsourcing FinTech firm.

Finhub 973 will undertake a multipronged approach to boost the FinTech ecosystem in the Kingdom. These include:

  • Regulatory testing: Finhub 973 will make it much easier for FinTech startups to apply to the CBB Regulatory Sandbox, which allows businesses to test their upcoming products and services with real customers for a limited time without fearing any regulatory hurdles.
  • Startup acceleration: With an in-house startup accelerator, Finhub 973 can help your startup scale efficiently and establish connections with investors and other stakeholders in Bahrain’s burgeoning startup ecosystem.
  • Partner innovations: The platform also offers a global network of FInTech firms and creative minds who can band together to crowdsource solutions to your innovation challenges.
  • Funding opportunities: Finhub 973 has a dedicated unit that helps emerging startups to raise the funds necessary for realizing their full potential. 

Visit the official Finhub 973 portal for more details on all the perks of becoming a member.

Sarah Faisal

Sarah Faisal

An enthusiastic content manager at Matter in Hand with an affinity for uncovering the magical bits of everything. I also love movies, poetry, and smoothie bowls.