{"id":7678,"date":"2024-11-28T19:18:31","date_gmt":"2024-11-28T19:18:31","guid":{"rendered":"http:\/\/mena-fintech.org\/demo\/?p=7678"},"modified":"2024-11-28T19:18:31","modified_gmt":"2024-11-28T19:18:31","slug":"fintech-forward-2024-shaping-the-future-of-fintech-in-bahrain-beyond","status":"publish","type":"post","link":"https:\/\/mena-fintech.org\/demo\/fintech-forward-2024-shaping-the-future-of-fintech-in-bahrain-beyond\/","title":{"rendered":"Fintech Forward 2024 &#8211; Shaping the Future of Fintech in Bahrain &#038; Beyond"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Bahrain once again took centre stage in the fintech world with <\/span><i><span style=\"font-weight: 400;\">Fintech Forward 2024 (FF\u201924)<\/span><\/i><span style=\"font-weight: 400;\">, a major event organized by the <\/span><b>Bahrain Economic Development Board (EDB)<\/b><span style=\"font-weight: 400;\"> in collaboration with <\/span><b>Bahrain FinTech Bay (BFB)<\/b><span style=\"font-weight: 400;\"> and the <\/span><b>Central Bank of Bahrain (CBB).<\/b><span style=\"font-weight: 400;\"> The event brought together over <\/span><b>2,000 attendees<\/b><span style=\"font-weight: 400;\">, <\/span><b>900+ C-suite executives<\/b><span style=\"font-weight: 400;\">, and <\/span><b>60 influential speakers from 30+ countries<\/b><span style=\"font-weight: 400;\">, underscoring Bahrain\u2019s position as a dynamic hub for financial innovation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">FF\u201924 was packed with groundbreaking announcements and strategic partnerships aimed at bolstering Bahrain\u2019s financial services sector. One of the major highlights was the launch of <\/span><b><i>ATME<\/i><\/b><span style=\"font-weight: 400;\">, a <\/span><b>CBB-licensed digital asset platform<\/b><span style=\"font-weight: 400;\">, aiming to unlock <\/span><b>new financing channels by facilitating fractional ownership of less liquid assets<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Supported by the Central Bank of Bahrain (CBB), the <\/span><b>Kingdom\u2019s Labour Fund<\/b><span style=\"font-weight: 400;\"> (<\/span><b>Tamkeen<\/b><span style=\"font-weight: 400;\">), and Bahrain FinTech Bay (BFB), <\/span><i><span style=\"font-weight: 400;\">FF\u201924<\/span><\/i><span style=\"font-weight: 400;\"> provided a platform for industry lea ders to explore how macroeconomic and technology-driven trends are reshaping the global financial landscape. The event opened with a riveting fireside chat with <\/span><b>Shaikh Salman bin Khalifa Al Khalifa, Bahrain\u2019s Minister of Finance and National Economy<\/b><span style=\"font-weight: 400;\">, who shared insights on the fintech industry\u2019s rapid evolution. This session set the stage for two days of thought-provoking discussions and high-level networking.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4><span style=\"font-weight: 800;\">A LINEUP OF INFLUENTIAL SPEAKERS &amp; FORWARD-THINKING IDEAS<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">The <\/span><b><i>Transformation Agenda<\/i><\/b><span style=\"font-weight: 400;\"> series, spanning both days of the event, was a major highlight, featuring keynotes and panels with industry giants like:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Amy Oldenburg<\/b><span style=\"font-weight: 400;\"> (Morgan Stanley Investment Management)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Rishabh Bhandari<\/b><span style=\"font-weight: 400;\"> (Wells Fargo)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Professor Jeffrey Sachs<\/b><span style=\"font-weight: 400;\"> (Columbia University &amp; UN Sustainable Development Solutions Network)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Godfrey Sullivan<\/b><span style=\"font-weight: 400;\"> (Visa CEMEA)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Alex Lola<\/b><span style=\"font-weight: 400;\"> (ATME)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Bryan Stirewalt<\/b><span style=\"font-weight: 400;\"> (EY MENA)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Yousif Almas<\/b><span style=\"font-weight: 400;\"> (Bank ABC)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Alaa Saeed<\/b><span style=\"font-weight: 400;\"> (ARRAY Innovation)<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Together, they explored trending topics such as <\/span><b>Generative AI, blockchain technologies, cybercrime, and the impact of new regulations on the financial sector<\/b><span style=\"font-weight: 400;\">. The sessions were moderated by <\/span><b>Joshua Roberts<\/b><span style=\"font-weight: 400;\"> (Capital Markets Editor, The Economist), <\/span><b>Jan Piotrowski<\/b><span style=\"font-weight: 400;\"> (Schumpeter Columnist, The Economist), and <\/span><b>Laveena Iyer<\/b><span style=\"font-weight: 400;\"> (Global Analyst, Economist Intelligence Unit).<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4><span style=\"font-weight: 800;\">STRATEGIC PARTNERSHIPS SHAPING BAHRAIN\u2019S FINTECH LANDSCAPE<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">At the core of the event were several key Memorandums of Understanding (<\/span><b>MoUs<\/b><span style=\"font-weight: 400;\">) signed by Bahrain FinTech Bay, each poised to fuel fintech innovation and drive Bahrain\u2019s economic growth:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>NBB Digital Banking Challenge 2024<\/b><span style=\"font-weight: 400;\">: In partnership with the National Bank of Bahrain, this initiative empowers young innovators aged 18-24 to create sustainable digital banking solutions. The challenge aligns with NBB\u2019s vision of digital transformation and sustainability.\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Pnyx Hill Agreement<\/b><span style=\"font-weight: 400;\">: This collaboration enhances Bahrain\u2019s fintech environment by offering compliance, governance, and risk advisory services. Andreas Kourouklaris, CEO of Pnyx Hill, highlighted, \u201c<\/span><i><span style=\"font-weight: 400;\">Together, we will unlock innovative opportunities and empower fintech firms in Bahrain to scale sustainably and compliantly.<\/span><\/i><span style=\"font-weight: 400;\">\u201d\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>crypto.com and BENEFIT<\/b><span style=\"font-weight: 400;\">: Partnered to expand digital payment solutions within Bahrain.\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>SC Ventures and BFB<\/b><span style=\"font-weight: 400;\">: Collaborated to support venture growth, bolstering Bahrain\u2019s position as a regional fintech hub.\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>National Bank of Bahrain (NBB) and ARP Digital<\/b><span style=\"font-weight: 400;\">: Announced the launch of the GCC\u2019s first Bitcoin-Linked Structured Investment, a pioneering initiative in the region.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h4><span style=\"font-weight: 800;\">DEVELOPING THE NEXT GENERATION OF FINTECH TALENT<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">In his inspiring session, <\/span><b>Richard Teng, CEO of Binance and Advisory Board Member of the MENA Fintech Association<\/b><span style=\"font-weight: 400;\">, emphasized the need for nurturing tech talent across the MENA region. \u201c<\/span><i><span style=\"font-weight: 400;\">We must create pathways for tech-driven careers to ensure the next generation of leaders is equipped to drive the fintech industry forward<\/span><\/i><span style=\"font-weight: 400;\">,\u201d he stated. Teng&#8217;s vision aligns with Bahrain&#8217;s ongoing commitment to building a highly skilled, future-ready workforce, showcased by initiatives like <\/span><b>Citi\u2019s Global Tech Hub<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4><span style=\"font-weight: 800;\">DIGITAL WALLETS &amp; THE FUTURE OF FINANCE<\/span><\/h4>\n<p><b>Miriam Kiwan, VP of MEA at Circle and Co-Chair of the MENA Fintech Association\u2019s Digital Assets Working Group<\/b><span style=\"font-weight: 400;\">, led an insightful session on the role of digital wallets in transforming financial services. She noted, \u201c<\/span><i><span style=\"font-weight: 400;\">Digital wallets are reshaping how we interact with money. This evolution goes beyond convenience, it\u2019s about creating secure, inclusive financial solutions that resonate with the needs of the MENA region.<\/span><\/i><span style=\"font-weight: 400;\">\u201d<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4><span style=\"font-weight: 800;\">BAHRAIN\u2019S FINTECH ECOSYSTEM REPORT 2025: A ROADMAP FOR GROWTH<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Released at the event, the <\/span><i><span style=\"font-weight: 400;\">Bahrain Fintech Ecosystem Report 2025<\/span><\/i><span style=\"font-weight: 400;\"> provided a deep dive into the current trends, challenges, and opportunities in Bahrain\u2019s fintech sector. From decentralized finance to embedded finance and sustainable investing, the report highlights Bahrain\u2019s commitment to staying at the forefront of global fintech innovation. To access the full report, <\/span><a href=\"https:\/\/form.123formbuilder.com\/6739420\/bahrain-fintech-ecosystem-report-2024\"><span style=\"font-weight: 400;\">click here<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><b><i>\u00a0\u201cOur supportive government and smart regulations have created a thriving environment for new ideas,\u201d <\/i><\/b><\/p>\n<p><span style=\"font-weight: 400;\">&#8211;<\/span><b>Bader Sater<\/b><span style=\"font-weight: 400;\">, CEO of Bahrain FinTech Bay.\u00a0<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-7679\" src=\"http:\/\/mena-fintech.org\/demo\/wp-content\/uploads\/2024\/11\/Fintech-Forward05.png\" alt=\"\" width=\"1920\" height=\"800\" srcset=\"https:\/\/mena-fintech.org\/demo\/wp-content\/uploads\/2024\/11\/Fintech-Forward05.png 1920w, https:\/\/mena-fintech.org\/demo\/wp-content\/uploads\/2024\/11\/Fintech-Forward05-300x125.png 300w, https:\/\/mena-fintech.org\/demo\/wp-content\/uploads\/2024\/11\/Fintech-Forward05-1024x427.png 1024w, https:\/\/mena-fintech.org\/demo\/wp-content\/uploads\/2024\/11\/Fintech-Forward05-150x63.png 150w, https:\/\/mena-fintech.org\/demo\/wp-content\/uploads\/2024\/11\/Fintech-Forward05-768x320.png 768w, https:\/\/mena-fintech.org\/demo\/wp-content\/uploads\/2024\/11\/Fintech-Forward05-1536x640.png 1536w, https:\/\/mena-fintech.org\/demo\/wp-content\/uploads\/2024\/11\/Fintech-Forward05-1320x550.png 1320w\" sizes=\"(max-width: 1920px) 100vw, 1920px\" \/><\/p>\n<p>&nbsp;<\/p>\n<h4><span style=\"font-weight: 800;\">REALIZING THE POTENTIAL OF OPEN BANKING IN THE MENA REGION<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">As a key member of the <\/span><b>MENA Fintech Association, <\/b><b><i>Tarabut Gateway<\/i><\/b><span style=\"font-weight: 400;\"> played a pivotal role at Fintech Forward 2024. During the event, Founder &amp; CEO<\/span><b> Abdullah Almoayed <\/b><span style=\"font-weight: 400;\">emphasized the untapped potential of data and open banking across the region. \u201c<\/span><i><span style=\"font-weight: 400;\">We aren\u2019t really leveraging and realizing the power of data and the power of open banking,<\/span><\/i><span style=\"font-weight: 400;\">\u201d Almoayed stated, underscoring the importance of embracing these technologies to drive the next wave of financial innovation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tarabut Gateway has been at the forefront of fostering open banking in Bahrain, facilitating secure data sharing and collaboration between banks and fintechs. This enables the development of more personalized and efficient financial solutions, which is critical as the MENA region works to strengthen its position in the global fintech landscape.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4><span style=\"font-weight: 800;\">MENA FINTECH ASSOCIATION IN ACTION<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">The MENA Fintech Association was proud to play a pivotal role at Fintech Forward 2024. In addition to being the <\/span><b>media partner and participating in key panel sessions<\/b><span style=\"font-weight: 400;\">, the association was actively involved in the after-hours networking events that brought together influential leaders and fintech enthusiasts from all across the GCC.\u00a0<\/span><\/p>\n<h4><\/h4>\n<p>&nbsp;<\/p>\n<h4><span style=\"font-weight: 800;\">LOOKING AHEAD: BAHRAIN\u2019S FINTECH VISION<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">With an expanding digital ecosystem, Bahrain continues to lead the MENA region in fintech innovation. <\/span><b>Yasmeen Al Sharaf<\/b><span style=\"font-weight: 400;\">, Director of the FinTech &amp; Innovation Unit at the CBB, echoed this sentiment, highlighting the CBB\u2019s commitment to balancing innovation with consumer protection:\u00a0<\/span><\/p>\n<p><b><i>\u201cWe are dedicated to creating a regulatory environment that fosters innovation and ensures long-term stability.\u201d<\/i><\/b><\/p>\n<p><span style=\"font-weight: 400;\">Fintech Forward 2024 was more than an event; it was a testament to Bahrain\u2019s vision for a digitally driven future. By fostering strategic partnerships, nurturing tech talent, and promoting innovation, Bahrain is paving the way for a robust and sustainable fintech ecosystem. The <\/span><b><i>MENA Fintech Association<\/i><\/b><span style=\"font-weight: 400;\"> fully supports Bahrain\u2019s vision and will continue to contribute to the fintech scene with its dedicated <\/span><i><span style=\"font-weight: 400;\">MFTA Bahrain Chapter<\/span><\/i><span style=\"font-weight: 400;\">. As the sector continues to evolve, Bahrain remains a beacon for fintech in the MENA region, poised to lead in an era of rapid technological advancement.<\/span><\/p>\n<p><b><i>\u201cBahrain\u2019s journey towards economic diversification has transformed its financial services sector. Our forward-thinking approach ensures that Bahrain remains a premier destination for fintech investments.\u201d<\/i><\/b><\/p>\n<p><span style=\"font-weight: 400;\">&#8211;<\/span><b>Dalal Buhejji<\/b><span style=\"font-weight: 400;\">, Executive Director at the Bahrain Economic Development Board<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bahrain once again took centre stage in the fintech world with Fintech Forward 2024 (FF\u201924), a major event organized by the Bahrain Economic Development Board (EDB) in collaboration with Bahrain FinTech Bay (BFB) and the Central Bank of Bahrain (CBB). The event brought together over 2,000 attendees, 900+ C-suite executives, and 60 influential speakers from &#8230; <a title=\"Fintech Forward 2024 &#8211; Shaping the Future of Fintech in Bahrain &#038; Beyond\" class=\"read-more\" href=\"https:\/\/mena-fintech.org\/demo\/fintech-forward-2024-shaping-the-future-of-fintech-in-bahrain-beyond\/\" aria-label=\"Read more about Fintech Forward 2024 &#8211; Shaping the Future of Fintech in Bahrain &#038; Beyond\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":7680,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[165],"tags":[],"class_list":["post-7678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles"],"_links":{"self":[{"href":"https:\/\/mena-fintech.org\/demo\/wp-json\/wp\/v2\/posts\/7678","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mena-fintech.org\/demo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mena-fintech.org\/demo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mena-fintech.org\/demo\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mena-fintech.org\/demo\/wp-json\/wp\/v2\/comments?post=7678"}],"version-history":[{"count":2,"href":"https:\/\/mena-fintech.org\/demo\/wp-json\/wp\/v2\/posts\/7678\/revisions"}],"predecessor-version":[{"id":7682,"href":"https:\/\/mena-fintech.org\/demo\/wp-json\/wp\/v2\/posts\/7678\/revisions\/7682"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mena-fintech.org\/demo\/wp-json\/wp\/v2\/media\/7680"}],"wp:attachment":[{"href":"https:\/\/mena-fintech.org\/demo\/wp-json\/wp\/v2\/media?parent=7678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mena-fintech.org\/demo\/wp-json\/wp\/v2\/categories?post=7678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mena-fintech.org\/demo\/wp-json\/wp\/v2\/tags?post=7678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}