Manama, 21 February 2018: Bahrain FinTech Bay (“BFB”), the largest Fintech hub in the Middle East & Africa, is pleased to announce its Founding Partners, coinciding with its launch today in Bahrain. BFB is the region’s largest fintech hub and will work with established industry leaders and new entrants from Bahrain, the region and around the world to drive innovation and create opportunities for growth.
BFB’s founding partners represent a broad cross section of Bahraini and global financial services and technology industry leaders. They will collaborate with BFB in accelerating Bahrain’s position as a leading regional fintech hub. International startups already set to gain from the partners’ expertise at the fintech co-working hub include US-based RobustWealth, Offrbox and Sigma Ratings as well as Jordanian startup, Labiba.
HE Mr Khalid Al Rumaihi, Chief Executive of the Economic Development Board of Bahrain (EDB) commented at the opening: “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.”
BFB will work with its Founding Partners to leverage their combined resources and network to identify, prioritise and address industry wide challenges and utilise economics of scale to implement solutions that bring innovation that captures the regional opportunity.
Khalid Saad, CEO of Bahrain FinTech Bay added, “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.”
BFB looks forward to working closely with our Founding Partners to build on Bahrain’s leadership as a financial centre.
BFB founding partners are:
Notes to editors:
Jolyn Goh, FinTech Consortium
About Bahrain FinTech Bay (“BFB”)
Bahrain FinTech Bay (“BFB”) is the leading FinTech Hub in Middle East, located conveniently in the Arcapita Building, Bahrain. Bahrain FinTech Bay provides a physical hub to incubate insightful, scalable and impactful fintech initiatives through innovation labs, acceleration programmes, curated activities, educational opportunities and collaborative platforms.
Bahrain FinTech Bay partners with governmental bodies, financial institutions, corporates, consultancy firms, universities, associations, media agencies, venture capital and fintech start-ups to bring the full spectrum of financial market participants and stakeholders together.
For more information on Bahrain FinTech Bay visit http://www.bahrainfintechbay.com
About FinTech Consortium (“FTC”)
The FinTech Consortium is a fintech Incubator and Ecosystem Builder that aims to further the development, interaction and acceleration of fintech ecosystems.
We foster synergies among market players, including government bodies, financial institutions, corporates, investors and innovators, who believe that technology can bring added value to the financial industry.
Through our fintech incubation platform, we offer corporate incubation, research lab and venture acceleration as well as provide access to analytical tools and fintech related resources. We believe that fintech is a crucial infrastructure layer to strengthen financial services.
For more information on FinTech Consortium visit http://www.fintech-consortium.com
About the Bahrain Economic Development Board
The Bahrain Economic Development Board (EDB) is an investment promotion agency with overall responsibility for attracting investment into the Kingdom and supporting initiatives that enhance the investment climate.
The EDB works with the government and both current and prospective investors to ensure that Bahrain’s investment climate is attractive, to communicate the key strengths, and to identify where opportunities exist for further economic growth through investment.
The EDB focuses on several economic sectors that capitalise on Bahrain’s competitive advantages. These sectors include financial services, manufacturing, ICT, tourism, logistics and transport.
For more information on the Bahrain EDB visit www.bahrainedb.com.