Tagged: bahrain

May 21, 2020 @ 11:25 pm By Omar Faridi  |  

  Bahrain’s residents have been using mobile and digital payments platforms a lot more now than they were before the COVID-19 outbreak. Safe distancing measures have been introduced throughout the Kingdom, in order to prevent the further spread of the Coronavirus. There are currently 7,888… Read More

May 10, 2020 @ 6:28 pm By Omar Faridi  |  

David Parker, co-chief investment officer at the Bahrain Economic Development Board (an organization responsible for attracting inward investment into the Kingdom for key areas such as technology development and supporting the local financial and banking industry), recently confirmed that the country aims to position itself… Read More

May 1, 2020 @ 9:56 pm By Omar Faridi  |  

The Gulf Cooperation Council (GCC), an intergovernmental political and economic union consisting of the Arab states of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, is expected to experience a significant increase in the use of Fintech platforms and services. The anticipated… Read More

March 21, 2020 @ 10:08 am By Omar Faridi  |  

stc Bahrain, a Fintech solutions provider and telecommunications firm, has revealed that it’s introducing new working procedures, in order to ensure safety of its workers during the coronavirus (COVID-19) outbreak. The Bahrain-based Fintech said it aims to continue to offer innovative financial services to support… Read More

March 16, 2020 @ 9:02 am By Omar Faridi  |  

Two major Fintech companies, Aion Digital and Qarar, are teaming up in order to accelerate the growth and development of online lending platforms across the Middle East region. According to a press release, the collaboration between the two Fintechs aims to “revolutionize the credit market”… Read More

March 2, 2020 @ 7:18 pm By Omar Faridi  |  

Tarabut Gateway, MENA region’s biggest Open Banking platform, will be conducting a series of six different Open Banking Interactive Workshops, which have been designed to help individual consumers, banks and Fintech firms learn more about the new policy.  The first workshop will be conducted this… Read More

February 16, 2020 @ 5:51 pm By Omar Faridi  |  

Ila, a Bahrain-based digital, mobile-only banking entity, has confirmed that it has appointed Mohamed Al Maraj as the company’s new chief executive. Established in November 2019 as a wholly-owned retail subsidiary of Bank ABC (the Arab Banking Corporation), a global bank with headquarters in the… Read More

January 14, 2020 @ 11:08 am By Omar Faridi  |  

HSBC, a British multinational investment bank and financial services holding company with over $2.5 trillion in total assets, has reportedly been voted as the leading trade finance bank in the Middle Eastern country of Bahrain in the Euromoney trade finance survey for 2020. This is… Read More

January 6, 2020 @ 10:14 am By Omar Faridi  |  

Solidarity Bahrain, one of Bahrain’s largest insurance service providers and a subsidiary of Solidarity Group Holding, has reportedly launched its newly developed core insurance system, TCS BaNCS. The TCS BaNCS insurance platform is part of the foundation of Solidarity’s digital transformation plan and has been… Read More

November 26, 2019 @ 12:36 am By Omar Faridi  |  

Bank ABC revealed on November 24 that it has introduced “ila” Bank, as the institution prepares to enter the digital, mobile-only banking sector, beginning with the Middle Eastern country of Bahrain. The initiative’s roadmap involves promoting the new platform across the Middle East and North… Read More

October 23, 2019 @ 8:28 pm By Omar Faridi  |  

Boston, Massachusetts-based Algorand, a firm developing a scalable, secure, and decentralized crypto platform, has reportedly been certified as sharia-compliant. Bahrain’s Shariya Review Bureau (SRB) provided the certification, which indicates that the Algorand platform abides by the teachings and requirements of Islamic law. The certification could… Read More

October 8, 2019 @ 9:53 am By Samantha Hurst  |  

Peer to peer lender Beehive announced on Tuesday it has facilitated funding for its first SME in Bahrain. According to the online lending platform, the SME, Bahrain-based Mira Packaging Factory, manufactures disposable paper cups and other food packaging solutions to the GCC and African F&B industry.  “Since… Read More

May 14, 2019 @ 10:37 am By Samantha Hurst  |  

Visa recently announced it has partnered with Bahrain FinTech Bay to further support the development of the FinTech ecosystem in Bahrain. According to Visa, Bahrain FinTech Bay was established a year ago and has around 100 partners including financial institutions, technology companies, fintechs, public institutions,… Read More

November 26, 2018 @ 12:00 am By JD Alois  |  

For 25 years, the World Islamic Banking Conference (WIBC) has solidified its reputation as the indisputable compass for the global Islamic finance and banking industry, building a robust platform that comprises of leading bankers, institutional investors, asset managers, policy makers, academics and other stakeholders from… Read More

November 13, 2018 @ 9:13 am By Samantha Hurst  |  

The Central Bank of Bahrain (CBB) and the Monetary Authority of Singapore (MAS) announced on Tuesday they have signed a Memorandum of Understanding (MOU) to strengthen cooperation between the two countries in fintech. According to the two organization, the MOU will support the sharing of information… Read More

February 26, 2018 @ 11:39 am By Samantha Hurst  |  

Last week, the Middle East and African fintech hub, Bahrain FinTech Bay, announced it is now officially open for business. Along with its opening, it also announced startups and founding partners. Bahrain FinTech Bay claims it is the region’s largest fintech and is aiming to… Read More

January 8, 2018 @ 1:45 pm By Samantha Hurst  |  

Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, announced on Monday it has entered into a fintech cooperation agreement with the Bahrain Economic Development Board (EDB). The organization noted that the agreement marks a significant first in the MENA region. Notably, with the new… Read More

August 29, 2017 @ 11:16 am By Erin Hobey  |  

The Central Bank of Bahrain (CBB) has announced two entrants into its regulatory sandbox:  Tramonex, a London-based forex cash management solution for businesses and NOW Money, the Dubai-based account and remittance service for low-income workers in the GCC. “We are pleased to welcome the first… Read More

August 10, 2017 @ 11:03 am By JD Alois  |  

  The Central Bank of Bahrain (CBB) has released regulations for debt based crowdfunding. Rules apply to both Shari’a compliant and conventional investments. It is expected that equity-based crowdfunding regulations will be announced later this month. The CBB announced that for the first time it will… Read More

June 28, 2017 @ 7:30 pm By Cole Lyons  |  

The Bahrain Economic Development Board (EDB), Singapore Fintech Consortium (SFC), and the Dubai-asset management firm Trucial Investment Partners have partnered to create a new FinTech environment. This new agreement is a part of a wider partnership aiming to make Bahrain the region’s Fintech powerhouse. Khalid Al Rumaihi,… Read More