Bahrain’s financial technology and digital services landscape is demonstrating strong resilience and year-on-year growth, driven by rapid technological advancements and progressive regulatory frameworks, top officials revealed during a Press conference at the fourth annual Fintech Forward event.
Addressing the media, Sustainable Development Minister and Bahrain Economic Development Board (EDB) Chief Executive Noor Al Khulaif highlighted how technology is transforming the financial sector at an unprecedented pace.
“Technology is transforming quite rapidly, and what is happening today might be different six months from now,” Ms Al Khulaif said. “Bahrain has been an agile platform, and as an agile country, we are able to adapt to these changes and create the right infrastructure and landscape to host these changes safely, efficiently, and securely.”
She emphasised that global financial institutions are increasingly seeking markets that balance innovation with stability.
“Increasingly, companies are looking for markets that combine both innovation and certainty. That is a common theme across a lot of the conversations we are seeing, alongside looking for the right regulatory environment,” she added.
Ms Al Khulaif also highlighted the success of initiatives launched at previous editions of the conference that have now transitioned from pilot programmes into live market solutions.
What had initially started as just an idea in a testbed – where vendors found that Bahrain is the right place for them to test these opportunities – is now being translated into innovative solutions within payments, data, and trade finance,” she explained.
“Timeline impact is the main variable when meeting international companies. It is a matter of when they are going to enter, not if. That is a direct reflection of the resilience that Bahrain has.”
Addressing the changing economic and investment dynamics across the region, the EDB CEO noted that Bahrain has shifted from being a consumer of technology and exporter of capital to an active producer and regional hub.
“The dynamics have changed significantly,” Ms Al Khulaif said. “We used to be exporters of capital; now, we are importers of vast capital. We used to be the greatest consumers of technology in fintech, and now we are one of the producers of that technology.”
Addressing global economic conditions and investor sentiment, EDB executive director of business development Dalal Buhejji noted that investor interest in the kingdom and the wider region remains robust.
“What we are seeing when it comes to investors is more of a timing shift rather than a lack of interest or a change in perception,” she added.
“Investors still very much believe in the strategies of the region and individual countries. They are taking the time to engage with the ecosystem and regulators to ensure they are fully prepared to set up and have local roots here.”
Ms Buhejji also emphasised Bahrain’s unique competitive edge and value proposition for Foreign Direct Investment (FDI) without needing to emulate traditional foreign tech hubs.
“Bahrain has always been an easy landing pad for companies. We have no free zone restrictions and allow 100 per cent foreign ownership,” she added. “The value proposition that Bahrain has is something that welcomes innovation and inside companies. We don’t need to brand ourselves as another ‘Silicon Valley’ because our value proposition stands on its own.”
The fourth edition of Fintech Forward saw record attendance, increased international delegation participation, and a series of major announcements and MoUs signed across crypto assets, digital banking, wealth management, and cross-sector technology integration.
avinash@gdnmedia.bh
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