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Instructed by Financial Supervisory Commission of Taiwan (FSC), co-funded by Taiwan Financial Service Roundtable and operated by the Institute for Information Industry (III), FinTechSpace announced today the signing of a Memorandum of Understanding (MoU) with Bahrain FinTech Bay, (hereinafter referred to as BFB) a fintech ecosystem builder. This agreement marks the beginning of fintech cooperation between Taiwan and the Middle East regions.

In recent years, the Middle Eastern market has actively invested in digital infrastructure and the application of emerging technologies in financial services. Bahrain has been a leader in this sector, introducing the first regulatory sandbox and open banking mechanism in the region, and establishing regulatory policies for cryptocurrency and cloud services through public-private partnerships. Supported by the Bahraini government, BFB has become the country’s premier fintech platform, offering innovation labs, acceleration programs, curated activities, and educational opportunities. It has attracted impactful fintech companies to use Bahrain as a base for expanding into the Middle Eastern fintech market, fostering over 135 fintech companies to date.

The MOU between FinTechSpace and BFB covers a wide range of collaborative resources, including working space, fintech company referrals, local presentations, and community network resource sharing. Director of FinTechSpace, Sam Hung, stated, “Since its inception, FinTechSpace has actively established cooperative relationships with overseas fintech hubs. Through this collaboration, we look forward to pushing Taiwan’s fintech capabilities onto a broader international stage through this partnership.” 

Suzy Al Zeerah, COO of Bahrain FinTech Bay, also expressed high expectations for this collaboration: “By partnering with Taiwan’s FinTechSpace, we can assist fintech companies from both sides to expand in the Bahraini and Taiwanese markets, promoting the mutual growth of our digital economies.”

Since its establishment in 2018, FinTechSpace has been committed to actively linking overseas market resources and establishing Fintech MOUs. With this MOU signing with BFB, FinTechSpace has officially established its 16th international MOU partner and its first fintech partner in the Middle East. FinTechSpace’s international cooperation network now spans 19 regional markets, connecting with 33 international organizations. The collaboration between FinTechSpace and Bahrain FinTech Bay is expected to deepen the understanding of the Asia-Pacific and Middle Eastern markets among industry players, enhance exchange and cooperation opportunities, and achieve a win-win situation.