Bahrain is fast establishing itself as the “ultimate strategic springboard” for UK technology firms looking to access the region, with 36 British fintech companies descending on the kingdom during the second day of the Fintech Forward 2025 event.
The showcase, a joint effort by the Bahrain Economic Development Board (EDB), Bahrain FinTech Bay, and the UK Department for Business and Trade (DBT), aimed to underscore the deepening financial ties and collaborative innovation between the two nations.
Sustainable Development Minister and EDB chief executive officer Noor Al Khulaif hailed the event as a convergence of local and global ambition.
“This event is where local strength meets global vision – a vital platform for sharing experience and innovation,” she said in an address to attendees. “Our aim is to create an ecosystem that ensures a smooth transition for companies, proving the tangible benefits of global collaboration.”
Central Bank of Bahrain Governor Khalid Humaidan highlighted the similarities that underpin the flourishing partnership, noting the shared legacy and resilience of both financial centres.
“The UK financial legacy is admired globally... and Bahrain’s sector shares that heritage: a legacy central bank and a vital role as a regional hub fuelled by international talent and capital,” he added.
Mr Humaidan emphasised that this foundation creates immense opportunity, with the current co-operation already robust.
“Fifteen UK institutions are already licensed in Bahrain, with six more on the way. That’s a rock-solid foundation,” he said, adding that Bahraini banks currently have $8 billion worth of investment exposure in the UK. “The existing ties are deep, but we’ve only just scratched the surface.”
British Ambassador Alastair Long described the sheer number of attendees as clear proof of the strong connection.
“A total of 36 UK fintechs here is concrete evidence of the deep ties between our two financial nations,” Mr Long said. He noted that both the UK and Bahrain share a financial sector that underpins 17.5 per cent of their respective GDPs, stressing they also share a deep-seated commitment to “assurance and propriety.”
The ambassador pointed to several tangible outcomes from this collaboration, noting that Umazi is launching its digital identity and Know-Your-Customer (KYC) technology directly in Bahrain. Furthermore, Velexa has entered a significant partnership with Ajyad Capital to redefine digital trading.
“UK innovators are not just attending; they are investing and launching. These are real partnerships with real impact,” he added.
Ms Al Khulaif concluded by reinforcing Bahrain’s position as a powerful financial ecosystem designed for growth.
“Collaboration is crucial, particularly in complex areas like banking regulation and financial technology. We are stronger together,” she said. “Co-operation across government, regulators, investors, and the private sector is the engine that facilitates faster access to opportunity.”
The event concluded with Katie Ramsey, head of fintech at the DBT, introducing nine featured UK fintech firms who presented their business concepts and plans for their expansion into the Bahraini market.
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