Bahrain FinTech Bay (BFB), a leading ecosystem builder in the region, is playing a pivotal role in accelerating fintech innovation within the Kingdom and the wider GCC. In a recent interview, CEO Bader Sater shared insights on BFB’s impact, the evolving regulatory landscape, and Bahrain’s unique position as a testbed for financial technology.
A Hub For Over 140 Startups
Since its inception, Bahrain FinTech Bay has become a central hub for innovation, supporting over 140 fintech startups in their journey to scale. Sater noted that this figure is a testament to Bahrain’s appeal as an ideal location for startups to innovate and grow. Notable success stories that have emerged from this ecosystem include Rain Financial and Tarabat Gateway, both of which leveraged Bahrain’s progressive regulations to expand across the GCC. The hub currently incubates around 30 companies, providing them with the resources and support needed before they graduate to establish their own offices.
Bridging Innovation And Regulation
A core part of BFB’s strategy involves creating a collaborative environment between the public and private sectors. The organization works closely with international fintechs to facilitate their soft-landing into the Bahraini market while simultaneously nurturing local companies through dedicated incubation and acceleration programs. Sater explained that the learnings gathered from working directly with these startups are channeled back to the government and regulators like the Central Bank of Bahrain (CBB). This feedback loop helps shape policies and ensures the regulatory framework evolves in line with market trends and needs.
Pioneering Stablecoins And Green Finance
Bahrain is setting a new tone for the future of digital finance with the recent introduction of a stablecoin regulatory framework by the CBB. Sater highlighted this as a significant development that opens up a new realm of opportunities, even as the full potential of the sector is still being explored. Alongside digital assets, Bahrain is also championing Green Finance, aligning its financial services sector with the UN’s Sustainable Development Goals (SDGs). This push aims to embed sustainable finance practices across all financial institutions in the Kingdom.
A Gateway To The GCC
While acknowledging the challenge of regional competition, Sater emphasized Bahrain’s key advantage: its agility and speed in decision-making, which solidifies its role as a real testbed for fintech innovation. BFB leverages this strength by cultivating a strong network across the GCC, North Africa, Europe, and the Far East. Through strategic partnerships, such as its close collaboration with Singapore’s fintech ecosystem, BFB actively promotes Bahrain as the strategic gateway for companies looking to access the broader GCC market.
About Bahrain FinTech Bay
Bahrain FinTech Bay (BFB) is a leading fintech hub in the Middle East, dedicated to fostering a conducive environment for innovation and collaboration. It provides a platform for startups, corporates, investors, and regulators to connect and drive the development of the financial services industry. BFB focuses on incubation, acceleration, education, and research to support the growth of the fintech ecosystem in Bahrain and beyond.
Source: Zawya
