The advent of Open Banking, mandated last year, and set to come into force in June this year, is the latest step in Bahrain’s leadership role in the FinTech sector.
How can challenging traditional business models and offering greater choice help break down barriers in FinTech? Our very own Dalal Buhejji, Senior Manager of Financial Services, shares her thoughts.
Our second annual Fintastic Bahrain Week succeeded in showcasing Bahrain as a regional hub for FinTech. However, although the week’s short-term success is important, it’s the long-term success of the FinTech sector in the Middle East that is far more significant. Here are a few insights we can draw after an action-packed week.
As we get deeper into 2019, the likely path of the FinTech industry through the rest of the year is beginning to emerge. The increasing rise of challenger banks, digital-only banks and non-traditional, algorithm-powered lenders is a given.
History has given us some great double-acts. In the business world, few can match the achievements of the duo behind the game-changing tech giant Apple Inc. Steve Jobs and Steve Wozniak founded arguably the most influential and powerful tech company the world has ever seen. Jobs, though often given the majority of the praise for … Continued
Fintastic Bahrain Week is just a few weeks away, and you don’t want to miss the impactful agenda that will see finance visionaries from across the globe descend on Bahrain to discuss technologies and innovations that are in the vanguard of redefining the financial services industry. The financial sector across the Gulf finds itself at … Continued
The year 2018 marked a special year for us here at the Bahrain Economic Development Board (EDB), one in which we’ve realised record-breaking job creation and direct investment figures. We attracted over USD 830 million in direct investment with 4,772 jobs being added to our economy over the next three years. We have our Team … Continued
Team Bahrain’s recent trip to China – touring commerce and innovation hubs including Shenzhen, Hangzhou, and Shijiazhuang – only served to deepen my conviction that our partnership has only just begun to fulfil its enormous potential. As China continues to build the Digital Silk Road and support the development of technology leaders, Bahrain represents a natural partner that can nurture the ingenuity of these visionaries and serve as a gateway to a region of 50 million people with a combined spending power of $1.5 trillion.
As the most established financial centre in the Gulf region, Bahrain continues to play an active role in what the future of finance will look like throughout the GCC. For years we laid a foundation to ensure a welcoming environment for financial sector institutions to take root and expand from the Kingdom. And take root they did – to the tune of around 400 that now call Bahrain a major base of operation.