2024 Fintech Future Forum Concludes with Resounding Success in Bahrain
TDT | Manama
The Daily Tribune - www.newsofbahrain.com
Email: mail@newsobahrain.com
The 2024 Fintech Future Forum has wrapped up successfully, marking its second consecutive year at the Bahrain International Exhibition and Convention Centre. This year’s event saw an impressive turnout of 1,700 attendees over two days, with approximately one-third hailing from across the Gulf region and other parts of the world.
Organized by the Economic Development Board (EDB) in partnership with Economist Impact, and supported by the Central Bank of Bahrain, Tamkeen, and Bahrain Fintech Bay, the forum delivered fresh perspectives on fintech and facilitated high-level networking among key regional and international business executives. The event highlighted emerging trends in technology and explored their influence on the global financial landscape.
Key Discussions and Insights
The forum opened with remarks from His Excellency Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, who provided strategic insights into the impact of global macroeconomic trends on the rapidly growing fintech sector. He underscored the importance of adapting to new economic realities as fintech continues to reshape global finance.
A panel discussion followed, featuring distinguished leaders including HE Shaikh Salman bin Khalifa Al Khalifa, HE Noor bint Ali Al Khulaif, Bahrain’s Minister of Sustainable Development, and Binance CEO Richard Tang. They discussed how countries and corporations are fostering the next generation of tech talent amid fierce competition and a constantly evolving global environment.
Industry Leaders and Thought Leadership
As part of the event’s Transformation Agenda series, the forum brought together changemakers and industry thought leaders from around the world. Notable participants included Amy Oldenburg from Morgan Stanley Investment Management, Rishabh Bhandari of Wells Fargo, Columbia University Professor Jeffrey Sachs, Godfrey Sullivan of Visa CEMEA, Alex Lolla of ATME, EY MENA’s Brian Stirewalt, Yousif Almas from Bank ABC, and Alaa Saeed from ARRAY Innovation.
These sessions served as a platform for leaders to exchange insights on fintech developments, from macroeconomic trends to innovations in open banking and cryptocurrencies, highlighting Bahrain’s growing role as a regional fintech leader.
Strategic Partnerships and Milestones
The forum also witnessed the signing of several key memorandums of understanding (MoUs). Among them was an MoU between crypto.com and Benefit, and another between SC Ventures, a subsidiary of Standard Chartered, and Bahrain Fintech Bay, aimed at expanding projects in Bahrain’s fintech ecosystem.
A significant announcement came from NBB (National Bank of Bahrain), which revealed a partnership with ARP Digital to launch the first Bitcoin-linked investment fund in the GCC. Additionally, Bahrain Fintech Bay launched its 2024 Bahrain Fintech Ecosystem Report during the event.
Prominent Moderators
The discussions were guided by top moderators, including Joshua Roberts, Capital Markets Editor at The Economist; Jean Piotrowski, Schumpeter Columnist at The Economist; and Lavina Ayre, Global Technology and Telecommunications Analyst at the Economist Intelligence Unit.
Bahrain’s Rise as a Fintech Hub
Bahrain’s success in fintech and emerging technologies continues to attract global attention. The kingdom is establishing itself as a regional hub for fintech, open banking, and cryptocurrencies, while also advancing in artificial intelligence. This growth can be attributed to Bahrain’s forward-thinking regulatory framework and a highly skilled, bilingual workforce, which has made the country an attractive destination for international investors.
By positioning itself at the forefront of fintech innovation, Bahrain is cementing its reputation as a leader in shaping the future of financial services in the region.
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