By Samuel Wendel / Forbes Middle East - Image Credit: Shutterstock
SOURCE: Forbes Middle East - Bahrain to Launch Fintech Hub
Bahrain’s ongoing efforts to establish the Gulf nation as a regional center of financial innovation moved ahead this week with the announcement of Bahrain FinTech Bay, a facility designed to accelerate fintech companies that’s set to open in February 2018.
The venture was announced by the Bahrain Economic Development Board, the country’s investment promotion agency, which declared the new center will be the largest dedicated fintech hub in the Middle East and Africa.
“We are very excited about the opportunities that fintech presents in the region and in Bahrain’s ability to serve as a hub for innovation in this sector. We know that in order to realise these opportunities, it is vital to get the right ecosystem, including ensuring a supportive regulatory environment and infrastructure is in place,” said H.E. Khalid Al Rumaihi, CEO of the Bahrain Economic Development Board, in a press release.