Tagged: bahrain

Cashless Transactions Increase to $3.62B in Bahrain During H1 2021: Report

The total number of point-of-sale (POS) and digital commerce transactions in Bahrain increased by 65% in August 2021 YoY, reaching an aggregate value of almost $744 million during the month, after topping $3.62 billion during H1 2021, the Central Bank of Bahrain has revealed. According… Read More

MENA Region Startup Ajar to Offer Property Management and Rental Collection Services in Bahrain

Ajar, a MENA region rental collection platform, reveals that it has expanded its business operations to the Kingdom of Bahrain. With an established presence in Kuwait and the United Arab Emirates (UAE), the firm will be providing its property management and rent collection services in… Read More

European Fintech Solutions Provider finleap Partners Bahrain’s Telecom Firm Batelco to Support Open Banking

European Fintech solutions provider finleap has teamed up with Bahrain-based telecom firm Batelco in order to support Open Banking in the MENA region. Recently, Batelco became the very first GCC-headquartered firm to acquire an Open Banking license. Through this latest partnership, finleap will be extending… Read More

National Bank of Bahrain Initiates Digital Banking Challenge

The National Bank of Bahrain (NBB) has launched the Digital Banking Challenge in partnership with Bahrain FinTech Bay. The Challenge is open to all Bahraini youth to develop new and creative solutions focused on NBB’s new digital banking app. In line with Bahrain’s Vision 2030 objectives,… Read More

Bahrain’s ila Bank Launches Five New Digital Banking Features

The Bahrain-based open banking platform ila Bank plans to enhance its customer’s overall banking experience with five new features in a contactless environment. The bank has designed the new features after taking customer feedback at various digital touchpoints and customer insights gained through its agile… Read More

Fintech QPS Global to Expand UAE, Saudi Arabia, Qatar, Oman, Kuwait Business Operations

Mumbai-based Fintech company QPS Global recently revealed that it will be expanding its business operations in the Middle East. The company confirmed that it will be allocating $10 million in capital into the region within the next 12 months. The B2B card issuance and processing… Read More

Bahrain Fintech Bay, US State Dept’s MEPI Supported Build for Bahrain Acceleration Program, Winners Announced

The Build for Bahrain Acceleration Program, held in partnership with Bahrain Fintech Bay and the US State Department’s MEPI, has now ended with the three winning teams successfully completing the acceleration program and 3-month incubation period (held at Bahrain FinTech Bay). The program (in Bahrain)… Read More

Rsquare Technologies Wins Regtech Recognition from Central Bank of Bahrain

Rsquare Technologies, a Bahrain-based Regtech, has won the Central Bank of Bahrain’s SuperNova 2021 ‘Regtech Innovation Challenge’. The Bahrain SuperNova Challenge was launched by the Central Bank of Bahrain (CBB) with the aim to further Bahrain’s Fintech industry’s development. Rsquare Technologies is a resident of one… Read More

Fintech Firm Islamic Finance Initiation Network Introduces Operations in Oman After Partnering Alizz Islamic Bank

IFIN (Islamic Finance Initiation Network), the Islamic Fintech firm, has introduced its operations in the Sultanate of Oman by teaming up with Alizz Islamic Bank and Danube Home. Bahrain-based IFIN, a company that digitally connects Islamic finance service providers to retail outlets, aims to offer… Read More

Bahrain’s NEC Payments Chooses Netcetera’s Payment Security Protocol

Bahrain’s payment services provider NEC Payments has reportedly chosen Netcetera for its 3DS 2.0 solution, a payments security protocol. NEC Payments is a fast-growing digital banking and payment tech firm that provides Cloud-based banking-as-a-service (BaaS) solutions in the Middle East. NEC Payments is focused on… Read More

Open Banking: Reserve Bank of Bahrain Shares Updates on New Guidelines for Fintechs, SMEs

The reserve bank of Bahrain has shared its commentary on the work being done by retail banks to implement the infrastructure for compliance with the Bahrain Open Banking Framework (Bahrain OBF). This work was carried out after a grace period that allowed for implementation which… Read More

JPMorgan Is Working with Bahrain’s Central Bank and Bank ABC to Launch Real-Time Cross-Border Payments, May Work on CBDCs Later

The reserve bank of Bahrain is reportedly working with J.P. Morgan (NYSE:JPM) and Bank ABC in order to launch a real-time cross-border payments system (as part of a digital currency settlement pilot program). Bank ABC and J.P. Morgan will be conducting tests including the transfer of… Read More

Arab Monetary Fund Releases Fintech Index, a Measure of Financial Tech Adoption in Middle East

The Arab Monetary Fund, which aims to establish policies of Arab monetary cooperation and promote the development of Arab financial markets, has launched “Finxar,” which is a regional Fintech index for tracking the development of the financial technology industry in Arab nations. The United Arab… Read More

Bahrain-Based Crypto Exchange Rain Secures $6 Million Through Series A Investment Round Led By Middle East Venture Partners

  Rain Financial, a Bahrain-based cryptocurrency exchange, announced one r the weekend it secured $6 million through its Series A funding round, which was led by Middle East Venture Partners (MEVP) with participation from Coinbase, Vision Ventures, CMT Digital Ventures, Abdul Latin Jameel Fintech Ventures,… Read More

Israel’s Fintech-Aviv and Bahrain Fintech Bay Partner Up on Financial Innovation

Bahrain Fintech Bay (BFB) and the Fintech Association of Israel –Fintech Aviv (FTA) have agreed to collaborate on the development of Fintech in the region. Earlier this year, diplomatic relations between the two countries were normalized ushering a new era of cross-border innovation and partnership…. Read More

Asian Countries like Bahrain and India Continue to Develop Financial Infrastructure to Support Payments Processing and other Fintech Services

Dalal Buhejji, the Director of Business Development, Financial Services at the Bahrain Economic Development Board, has noted that there are currently around 400 financial institutions based in Bahrain. Buhejji pointed out that these companies are offered a “stable, predictable and proven” regulatory and business environment… Read More

Bahrain and Saudi Capital of Riyadh Named as Top Fintech Ecosystems to Watch Closely: Report

The Kingdom of Bahrain and Saudi Arabia’s capital city Riyadh were recently chosen as the top Fintech ecosystems to watch closely, according to a report from research organization Startup Genome. The researchers at Startup Genome analyzed the economies and deal activities of several different countries…. Read More

Central Bank of Bahrain Launches FinHub 973, a Virtual Fintech Platform for the MENA Region

The Central Bank of Bahrain has introduced FinHub 973, which aims to serve as a virtual Fintech platform for the MENA region. The platform has been launched with the help of the Economic Development Board, Bank ABC, ila Bank, Benefit, National Bank of Bahrain, and… Read More

Fintech Businesses and Startups in Israel, the UAE, and Bahrain Form Strategic Partnerships Following Signing of Abraham Accords

The Abraham Accords were recently signed between Israel and the United Arab Emirates (UAE) and the Kingdom of Bahrain.  The agreement is officially called the Abraham Accords Peace Agreement: Treaty of Peace. It establishes diplomatic relations and “full normalization” between Israel and several Middle Eastern… Read More

UK Fintech Fasset Will be Tokenizing Hard Assets via Blockchain Tech as Part of Bahrain’s Fintech Sandbox Program

UK-based Fintech firm Fasset, a provider of blockchain-based solutions for the financing of sustainable infrastructure, has reportedly been approved or authorized to test out its software which tokenizes hard assets. The project is part of Bahrain’s Fintech regulatory sandbox program. The permit was issued by… Read More

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