Fintech, or financial technology, refers to innovations transforming how we use financial services. Ever wondered how banking, payments, savings, and investments are now just a tap away? That’s Fintech in action.
In Bahrain, the shift towards a cashless society has accelerated, with advancements in digital banking, blockchain, and cryptocurrency. At the core of this transformation is Bahrain FinTech Bay—the Middle East’s largest fintech hub and a key driver of the Kingdom’s digital economy. It supports scalable fintech initiatives and works closely with government bodies, financial institutions, universities, venture capitalists, and start-ups to advance industry knowledge and innovation.
Gulf Insider spoke with Suzy Al Zeerah, COO of Bahrain FinTech Bay, to explore its role in shaping Bahrain’s fintech landscape, ongoing collaborations, and future initiatives.
What strategies or initiatives is Bahrain FinTech Bay implementing to put the Kingdom on the global map as a leading fintech hub?
Bahrain FinTech Bay has been proactively implementing several strategies to position itself as a leading global fintech hub. Being the ecosystem builder in Bahrain, our mandate is to support the wider fintech community and different stakeholders for the overall growth of the local fintech industry.
First and foremost, the organisation actively collaborates with the Central Bank of Bahrain (CBB), to support a regulatory environment that drives innovation while ensuring compliance with international standards.
Bahrain is well renowned for its progressive policies around emerging sectors like crypto assets, open banking, and the constant development of payment regulations. This is essential for attracting both local and global fintech companies. We work closely with Bahrain’s Economic Development Board (EDB) to align on supporting fintechs in their expansion plans to the region and choosing Bahrain as their operational base.
In addition, Bahrain FinTech Bay is strengthening its global presence by forging strategic partnerships with fintechs, fintech hubs, academic institutions, and industry leaders worldwide.
We position ourselves as a thought leader by hosting impactful events, publishing industry insights, and participating in key international fintech forums. These efforts help shape the regional fintech narrative and showcase Bahrain as a forward-thinking leader in the space.
Ultimately, our goal is to drive collaboration between regulators, financial institutions, and innovators to create a dynamic ecosystem that fosters innovation and cements Bahrain’s reputation as a global fintech destination.
Can you share a success story of a fintech startup that BFB has supported and its impact on the local or regional market?
One of Bahrain FinTech Bay’s resident success stories is Rain Financial, a cryptocurrency exchange that has made waves locally and regionally. As one of the early fintechs in our ecosystem, Rain benefited from the support, resources, and network BFB offers to promising startups.
Through our collaborative ecosystem, Rain successfully navigated Bahrain’s progressive regulatory environment, becoming the first cryptocurrency exchange to earn a license from the Central Bank of Bahrain.
Rain’s growth has significantly impacted the local and regional markets. It established Bahrain as a leader in cryptocurrency regulation and inspired confidence in fintech innovation in the Kingdom. The company’s success has created jobs, raised awareness about digital assets, and demonstrated how Bahrain’s fintech ecosystem can support startups with global ambitions.
Their journey has opened doors for several other new crypto companies, resulting in the blockchain and crypto space becoming one of the most concentrated verticals in Bahrain.
What regional trends in fintech are you particularly excited about, and how does BFB aim to leverage them?
One of the most exciting regional trends in fintech is the rapid development and adoption of cryptocurrency and digital assets. As these technologies redefine the financial services landscape, they present tremendous opportunities for innovation, investment, and market growth.
Currently, Bahrain stands as one of the leading countries in the region positioning itself as a prominent crypto hub. With its progressive regulatory framework, spearheaded by the Central Bank of Bahrain (CBB), the Kingdom has established itself as a pioneer in embracing digital assets and cryptocurrencies. The CBB was one of the first regulators in the region to introduce a comprehensive framework for crypto-asset service providers, ensuring a secure and transparent environment for businesses and investors.
Additionally, Bahrain’s proactive approach to fostering innovation has attracted numerous global and regional crypto and blockchain companies to establish operations within the Kingdom.
For start-ups and/or individuals interested in fintech, what opportunities does Bahrain FinTech Bay offer to help them learn, network, or grow their skills?
One of our key initiatives is the MENA Innovation Academy, a collaborative programme powered by Bahrain FinTech Bay and Reboot Coding Institute. The Academy focuses on equipping individuals with the skills needed to excel in the fintech industry.
The Academy provides fintech-related courses and certifications delivered by top global universities, ensuring participants receive a world-class education. These courses cover a wide range of topics, from foundational fintech principles to emerging technologies like artificial intelligence, blockchain, and digital payments. To complement the theoretical learning, the Academy also offers hands-on workshops that focus on practical applications and real-world problem-solving.
It’s an excellent platform for aspiring fintech professionals to build foundational knowledge and practical expertise.
We work with financial institutions such as the National Bank of Bahrain, Standard Chartered, Visa, and others on bespoke acceleration programmes tailored for the youth and to drive innovation.
We are also a co-working space and home to over 30 fintechs. At BFB, we host numerous events during the year with our residents and partners to raise awareness including the national Fintech Forward event we support with the Bahrain EDB, CBB and Tamkeen that will be in its 3rd edition in October 2025.
As the COO of BFB, what do you consider to be the organisation’s biggest achievements so far, and what milestones are you targeting for the near future?
We have successfully doubled the number of fintechs incubated since our inception, showcasing our dedication to fostering innovation and growth. Along the way, we have celebrated countless success stories and played a key role in forming partnerships that have supported these ventures in their journey. Additionally, we have expanded our team and introduced new initiatives designed to further strengthen and support the fintech ecosystem.
We target driving the development of the blockchain and digital assets ecosystem, launching programs that attract fintechs to Bahrain, and positioning the country as a leading global hub for innovation. Furthermore, we are committed to growing the MENA Innovation Academy and supporting the Kingdom’s efforts to develop talent, ensuring that all fintechs choosing Bahrain have access to a skilled and empowered workforce.
For young professionals or students considering a career in fintech, what advice or resources would you recommend they explore through BFB?
My advice would be to stay curious and proactive. Fintech is a fast-evolving field, so keeping up with the latest trends, technologies, and challenges is key. At Bahrain FinTech Bay, we offer a variety of resources and programmes designed to help you explore and grow in this industry.
Attending our events and workshops is great for networking and gaining insights from industry leaders. They can also check out our acceleration programmes, which provide hands-on experience for entrepreneurs and startups. Lastly, they can leverage our reports and insights, which are available on our platforms. These are excellent resources to understand market trends, emerging technologies, and how Bahrain is positioning itself as a fintech hub.
Can you tell us a little bit about your journey? What brought you to the fintech space, particularly Bahrain Fintech Bay
My journey into fintech has been unique. After studying finance and accounting, I began my career in higher education, teaching at universities in Syria and later at the American University of Science and Technology in Beirut. I then transitioned into the startup ecosystem when I relocated to Bahrain, working at Brinc, an IoT accelerator, where I developed curiosity and an appreciation for innovation and technology.
When I joined the fintech space, it was still a very new concept, and not many people were familiar with it. The idea of merging technology with financial services was intriguing and exciting to me. Joining Bahrain FinTech Bay was the perfect opportunity to be at the forefront of this growing industry. Every day, I’m learning something new — it’s such a dynamic and evolving field that keeps pushing boundaries.
