A powerful and robust platform, set up for success
FinTech, the intersection of finance and technology, is experiencing unprecedented industry growth across the globe, none more so than in the Middle East. At the heart of this digital transformation, Bahrain is continually evolving its long-established financial services ecosystem to unlock opportunities for FinTech ventures and global financial institutions with a digital agenda. Bahrain is home to MENA’s leading FinTech hub, Bahrain FinTech Bay, which provides facilities including dedicated coworking, innovation labs, advisory services and collaboration platforms.
The transformation of Bahrain’s FinTech ecosystem has been driven by unmatched regulatory reform, paving the way for emerging industries including crowdfunding, InsurTech, robo-advice and crypto-asset platforms. The Central Bank of Bahrain is continuously reforming policies to enhance the activity, funding, quality, and competitiveness of financial sector services.
In 2016, The Central Bank of Bahrain pioneered a regulatory sandbox that allows FinTech firms and digitally-focussed financial institutions around the world to test new products and services in Bahrain. Since its inception, the sandbox has nurtured a number of innovative FinTech businesses.
The Central Bank of Bahrain plans to introduce crowdfunding regulation to enable the establishment and growth of equity, debt-based and Shariah-compliant crowdfunding activity.
local test market
Bahrain’s highly connected economy and young, digitally adept population make it the perfect test-bed for financial tech startups and scale-ups to launch, gain funding and expand into regional and even global markets.
The CBB has been quick to embrace open banking, providing FinTech companies of all sizes with a sound regulatory framework to evolve to meet the growing demand for digital payment services in the region.
“Meeting CBB regulations has allowed us to be a much more rounded organisation, with a much better resource base, giving us a platform for growth as time goes on.”
Andrew Sims, Director & CEO, NEC Payments
Join a long list of world-class businesses that have chosen our country as their regional base of operations. These are just some of the companies within the FinTech industry that are finding success in Bahrain:
What is FinTech like in Bahrain? FinTech business, NEC Payments, explains how Bahrain’s regulatory environment has provided a stable platform for business development. Learn how NEC Payments meets ever-increasing customer demands for FinTech services such as secure transactions across different devices and platforms.
Women in FinTech Bahrain (WIFBH) was formed in 2018 to serve and support women in the FinTech sector. Learn more about how Bahrain is supporting women in finance and technology and raising awareness of career opportunities both locally and globally through the Women in FinTech Bahrain business network.
Bahrain’s Bright Future
Bahrain offers valuable opportunities for businesses with unrivalled market access to growing Gulf economies. Dating back 4,000 years, Bahrain has long been a trading center linking east and west. Today, we continue to adapt quickly to emerging market trends as part of an ongoing strategy to diversify the types of companies that call Bahrain home.
Independent organisations across the globe are acknowledging the advantages Bahrain offers to businesses. The Kingdom has been recognised as a globalisation hotspot, and an innovation-driven economy, underlining our commitment to building a bright economic future your company will want to take advantage of.
There are many more reasons to do business in Bahrain, including our central Gulf location, low cost of operations, talented local workforce, and stable economy.
Download additional materials on Bahrain’s payments services sector to learn more about making a FinTech investment in Bahrain.
FinHub 973, launched by the Central Bank of Bahrain (CBB), is the region’s first cross-border, digital innovation platform that connects and facilitates collaboration between financial institutions and fintechs under the supervision of the central bank.
CBB regulatory sandbox
Bahrain gives your company the platform to excel by creating an environment that facilitates global FinTech investment, encourages business innovation and financial inclusion.