Jeel and Bahrain FinTech Bay Sign Strategic Memorandum of Understanding to Drive Cross-Border Fintech Collaboration

Jeel, powered by Riyad Bank is an independent fintech and technology accelerator that connects innovators through its recently launched Sandbox, has entered a strategic partnership with Bahrain FinTech Bay (BFB), the leading fintech hub in the Kingdom of Bahrain, to strengthen cross-border collaboration and advance the regional fintech ecosystem.

This partnership establishes a framework for greater cooperation between Saudi Arabia and Bahrain, enabling both markets to share insights, foster innovation, and accelerate fintech growth. By connecting Jeel’s sandbox accelerator with BFB’s international sourcing network, the agreement creates a bilateral bridge for startups to access new markets, expand regionally, and scale their solutions with regulatory confidence.

Through this MoU, Jeel and BFB will jointly:

• Facilitate the exchange of market insights, regulatory developments, and innovation trends.

• Support cross-border startup expansion, with Jeel enabling Bahrain and international fintechs to test and scale in Saudi Arabia, and BFB supporting Saudi startups exploring Bahrain as a hub.

• Launch joint programs, reports, and engagement initiatives, including Jeel’s participation in FinTech Forward and BFB’s involvement in Jeel’s Innovation Lab & Studio activities.

This partnership reinforces Jeel’s mission to position Saudi Arabia as a global fintech innovation hub. By connecting our sandbox with Bahrain FinTech Bay’s international network, we are enabling innovators to expand across borders. By laying the foundation for Jeel’s Banking as a Service (BaaS) platform, we are enabling fintechs to move seamlessly from testing and validation into scalable, real-world deployment, which is fully aligned with Vision 2030.” - George Harrak, CEO of Jeel.

“This partnership with Jeel is a pivotal step in advancing cross-border fintech collaboration between Bahrain and Saudi Arabia,” said Suzy Al Zeerah, Chief Operating Officer of Bahrain FinTech Bay. “Together, we will drive startup growth, share critical market knowledge, and foster innovation that positions both our nations as leading fintech hubs in the region.”

The MoU underscores both parties’ commitment to building an integrated and globally competitive fintech landscape, aligned with the shared vision of driving sustainable growth and innovation across the GCC