Tagged: bahrain

October 26, 2020 @ 9:57 pm By Omar Faridi  |  

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

October 11, 2020 @ 10:26 am By Omar Faridi  |  

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

September 30, 2020 @ 7:28 am By Omar Faridi  |  

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

September 14, 2020 @ 11:26 pm By JD Alois  |  

OurCrowd, a leading global investment crowdfunding platform that is based in Israel, is well-positioned to take advantage of the improving relations in the middle east. Last month, Israel and the United Arab Emirates (UAE) announced the normalization of diplomatic relations. The official signing of the… Read More

September 10, 2020 @ 9:39 pm By Omar Faridi  |  

The Middle Eastern country of Bahrain has identified key focus areas to further develop its economy. The nation’s government has outlined a national strategy for supporting digital commerce. Zayed Alazayani, the Industry, Commerce and Tourism Minister, stated that the Kingdom will be introducing new laws… Read More

August 19, 2020 @ 9:36 am By Omar Faridi  |  

Bahrain introduced its first Open Banking product for the MENA region during December of last year. The central bank of Bahrain is among the first major institutions in the Middle East to propose and create regulations that require the adoption of Open Banking technologies by… Read More

July 9, 2020 @ 10:38 pm By Omar Faridi  |  

Approximately 20% or one-fifth of bank account holders in the Middle East are now using Fintech solutions, according to a recent survey performed by Deloitte. The survey, which examined nine key markets in the Middle East, reveals that consumers in the region are quite willing… Read More

June 29, 2020 @ 10:54 pm By Omar Faridi  |  

The Fintech startup ecosystem in Bahrain has been ranked among the highest in the Middle East region. The sector is also ranked near the top in terms of Islamic finance regulation, according to Startup Genome’s Global Startup Ecosystem Report (GSER) 2020. The Central Bank of… Read More

June 23, 2020 @ 11:42 pm By Omar Faridi  |  

Over 80% of banking customers in the Middle East say they’re ready or willing to use Fintech apps, however, many traditional lenders have not started integrating financial technology products, according to a recent study by Big Four auditing firm Deloitte. The study revealed that 18%… Read More

June 22, 2020 @ 10:38 pm By Omar Faridi  |  

Narayanan Ganapathy, a financial analyst, angel investor, and the CEO at Angivest Ventures, recently noted that significantly more people are using smartphone apps and other types of software to make digital payments, because of the COVID-19 outbreak and resulting challenges. Ganapathy, whose comments came during… Read More

June 21, 2020 @ 4:23 pm By Omar Faridi  |  

Bahrain and the United Arab Emirates (UAE) were recently ranked among the world’s top 100 destinations for startups across the globe. A new study published by StartupBlink, called the Startup Ecosystem Rankings Report, determines the score for each country by taking into consideration many different… Read More

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