Bahrain once again took centre stage in the fintech world with Fintech Forward 2024 (FF’24), 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 30+ countries, underscoring Bahrain’s position as a dynamic hub for financial innovation.
FF’24 was packed with groundbreaking announcements and strategic partnerships aimed at bolstering Bahrain’s financial services sector. One of the major highlights was the launch of ATME, a CBB-licensed digital asset platform, aiming to unlock new financing channels by facilitating fractional ownership of less liquid assets.
Supported by the Central Bank of Bahrain (CBB), the Kingdom’s Labour Fund (Tamkeen), and Bahrain FinTech Bay (BFB), FF’24 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 Shaikh Salman bin Khalifa Al Khalifa, Bahrain’s Minister of Finance and National Economy, who shared insights on the fintech industry’s rapid evolution. This session set the stage for two days of thought-provoking discussions and high-level networking.
A LINEUP OF INFLUENTIAL SPEAKERS & FORWARD-THINKING IDEAS
The Transformation Agenda series, spanning both days of the event, was a major highlight, featuring keynotes and panels with industry giants like:
- Amy Oldenburg (Morgan Stanley Investment Management)
- Rishabh Bhandari (Wells Fargo)
- Professor Jeffrey Sachs (Columbia University & UN Sustainable Development Solutions Network)
- Godfrey Sullivan (Visa CEMEA)
- Alex Lola (ATME)
- Bryan Stirewalt (EY MENA)
- Yousif Almas (Bank ABC)
- Alaa Saeed (ARRAY Innovation)
Together, they explored trending topics such as Generative AI, blockchain technologies, cybercrime, and the impact of new regulations on the financial sector. The sessions were moderated by Joshua Roberts (Capital Markets Editor, The Economist), Jan Piotrowski (Schumpeter Columnist, The Economist), and Laveena Iyer (Global Analyst, Economist Intelligence Unit).
STRATEGIC PARTNERSHIPS SHAPING BAHRAIN’S FINTECH LANDSCAPE
At the core of the event were several key Memorandums of Understanding (MoUs) signed by Bahrain FinTech Bay, each poised to fuel fintech innovation and drive Bahrain’s economic growth:
- NBB Digital Banking Challenge 2024: 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’s vision of digital transformation and sustainability.
- Pnyx Hill Agreement: This collaboration enhances Bahrain’s fintech environment by offering compliance, governance, and risk advisory services. Andreas Kourouklaris, CEO of Pnyx Hill, highlighted, “Together, we will unlock innovative opportunities and empower fintech firms in Bahrain to scale sustainably and compliantly.”
- crypto.com and BENEFIT: Partnered to expand digital payment solutions within Bahrain.
- SC Ventures and BFB: Collaborated to support venture growth, bolstering Bahrain’s position as a regional fintech hub.
- National Bank of Bahrain (NBB) and ARP Digital: Announced the launch of the GCC’s first Bitcoin-Linked Structured Investment, a pioneering initiative in the region.
DEVELOPING THE NEXT GENERATION OF FINTECH TALENT
In his inspiring session, Richard Teng, CEO of Binance and Advisory Board Member of the MENA Fintech Association, emphasized the need for nurturing tech talent across the MENA region. “We must create pathways for tech-driven careers to ensure the next generation of leaders is equipped to drive the fintech industry forward,” he stated. Teng’s vision aligns with Bahrain’s ongoing commitment to building a highly skilled, future-ready workforce, showcased by initiatives like Citi’s Global Tech Hub.
DIGITAL WALLETS & THE FUTURE OF FINANCE
Miriam Kiwan, VP of MEA at Circle and Co-Chair of the MENA Fintech Association’s Digital Assets Working Group, led an insightful session on the role of digital wallets in transforming financial services. She noted, “Digital wallets are reshaping how we interact with money. This evolution goes beyond convenience, it’s about creating secure, inclusive financial solutions that resonate with the needs of the MENA region.”
BAHRAIN’S FINTECH ECOSYSTEM REPORT 2025: A ROADMAP FOR GROWTH
Released at the event, the Bahrain Fintech Ecosystem Report 2025 provided a deep dive into the current trends, challenges, and opportunities in Bahrain’s fintech sector. From decentralized finance to embedded finance and sustainable investing, the report highlights Bahrain’s commitment to staying at the forefront of global fintech innovation. To access the full report, click here.
“Our supportive government and smart regulations have created a thriving environment for new ideas,”
–Bader Sater, CEO of Bahrain FinTech Bay.
REALIZING THE POTENTIAL OF OPEN BANKING IN THE MENA REGION
As a key member of the MENA Fintech Association, Tarabut Gateway played a pivotal role at Fintech Forward 2024. During the event, Founder & CEO Abdullah Almoayed emphasized the untapped potential of data and open banking across the region. “We aren’t really leveraging and realizing the power of data and the power of open banking,” Almoayed stated, underscoring the importance of embracing these technologies to drive the next wave of financial innovation.
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.
MENA FINTECH ASSOCIATION IN ACTION
The MENA Fintech Association was proud to play a pivotal role at Fintech Forward 2024. In addition to being the media partner and participating in key panel sessions, the association was actively involved in the after-hours networking events that brought together influential leaders and fintech enthusiasts from all across the GCC.
LOOKING AHEAD: BAHRAIN’S FINTECH VISION
With an expanding digital ecosystem, Bahrain continues to lead the MENA region in fintech innovation. Yasmeen Al Sharaf, Director of the FinTech & Innovation Unit at the CBB, echoed this sentiment, highlighting the CBB’s commitment to balancing innovation with consumer protection:
“We are dedicated to creating a regulatory environment that fosters innovation and ensures long-term stability.”
Fintech Forward 2024 was more than an event; it was a testament to Bahrain’s 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 MENA Fintech Association fully supports Bahrain’s vision and will continue to contribute to the fintech scene with its dedicated MFTA Bahrain Chapter. 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.
“Bahrain’s journey towards economic diversification has transformed its financial services sector. Our forward-thinking approach ensures that Bahrain remains a premier destination for fintech investments.”
–Dalal Buhejji, Executive Director at the Bahrain Economic Development Board
