Bahrain Bourse announced signing a Memorandum of Understanding (‘MOU’) with Bahrain FinTech Bay (BFB) on 18th February 2018 to endorse the launch of Bahrain FinTech Bay (BFB).
CEO of Bahrain Bourse, Shaikh Khalifa Bin Ebrahim Alkhalifa and the Chairman of Bahrain FinTech Bay Mr. Maissan Jalal Almaskati signed the agreement.
As a Supporting Partner, Bahrain Bourse will work closely with BFB in support of developing the FinTech ecosystem in Bahrain, exploring the latest financial technologies conducive to the growth of local and regional capital markets, and encouraging innovation in this field. Bahrain Bourse can offer Fintech startups and entrepreneurs a unique platform looking to access capital markets, particularly through the newly launched Bahrain Investment Market.
The BFB platform and offering is set to create ideal conditions to attract both local and international corporate innovation labs and FinTech start-ups to collaborate on developing, testing, scaling and deploying new technologies in Bahrain and the wider GCC region.
On this occasion, Shaikh Khalifa bin Ebrahim Al-Khalifa said: “We are pleased to partner with Bahrain FinTech Bay to support the development of a Fintech ecosystem in the Kingdom of Bahrain. With this partnership, we aim to facilitate Fintech startups’ access to the capital market to go in line with our initiatives within the Bahrain Investment Market in supporting growth companies.”
Maissan Jalal Al Maskati, Chairman of FinTech Consortium Bahrain commented: “This collaboration between a fintech hub and a local capital market is a regional first and significantly enhances the offering for FinTech in Bahrain. We are excited about this partnership with Bahrain Bourse and look forward to working together to further develop the local ecosystem.”