Manama : The Bahrain Economic Development Board (EDB) announced the first Fintastic Bahrain Week from February 19 to 21.
The week-long series of activities will bring together around 700 international and regional financial services experts to explore disruptive innovation across the industry. Hosting Fintastic Bahrain Week is part of the EDB’s efforts towards attracting investment and creating high-quality jobs.
The return of the seventh annual GCC Financial Forum, co-hosted by Euromoney Conferences and EDB, will form the backbone of the week, taking place on February 20 and 21 at the Four Seasons Hotel, Bahrain Bay.
The industry-leading conference will bring together international and regional financiers, economists, investors, bankers and policy makers to discuss and debate challenges and future opportunities for the global financial sector, and what this means for the GCC, with a primary focus on innovations like FinTech, blockchain, artificial intelligence and big data.
Khalid Al Rumaihi, Chief Executive, Bahrain Economic Development Board, commented: “Just as we set the global benchmark for Islamic banking regulation, today the Kingdom’s regulatory sandbox is creating new inroads for innovation, enabling FinTech firms to test and experiment new banking ideas and solutions. Fintastic Bahrain Week presents an important moment to share insights from Bahrain, the GCC and around the world to help shape the future of the sector.”
High profile speakers are converging for the GCC Financial Forum, part of Fintastic Bahrain Week, include Lord Mervyn King, Economist and Former Governor of the Bank of England; and Mohamed El Erian, Chief Economic Advisor at Allianz. They join prominent voices from Bahrain, including Shaikh Ahmed bin Mohammed Al Khalifa, Minister of Finance, and Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain.
Victoria Behn, Director of Middle East and Africa at Euromoney Conferences, commented: “Under the theme ‘innovation and the future of financial services’, this year’s conference is uniquely tailored to explore the implications of the continued convergence of finance and technology for the financial services industry in the GCC. With international financiers, senior policymakers and leading FinTech firms attending from across the Middle East, the GCC Financial Forum will once again be an unmissable event in the region’s financial
According to MAGNiTT 2017 State of MENA Funding report, FinTech maintains its position at the top of the investment deal flow, accounting for just below 12% of all startups deals and valued at US$ 66.6 million. The top 3 largest investments from Fintech startups in 2017 include Paytabs ($20m) headquartered in Bahrain, Souqalmal ($10m) and Wahed ($7m).
Source Credit: DT News