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GCC looks to fintech to plug oil-revenue gap
In the face of falling oil prices and dwindling reserves, Bahrain is reinventing itself as a global hub for fintech and banking innovation. The seventh annual GCC Financial Forum, co-hosted by Euromoney Conferences and the Bahrain Economic Development Board, reflected a wider desire among GCC countries to diversify their oil-dependent economies and relaunch themselves at the sharp end of financial innovation.
700 delegates from across the Gulf attended the two-day event, which featured speeches and interviews with international financial leaders and top regional policy-makers. Our talks and panels focused on how unprecedented technological change is driving a fundamental re-structuring of the financial services industry – creating opportunities for new players and threats to incumbents.
We were also privileged to hear from two heavyweights of global finance, Lord (Mervyn) King, Former Governor of The Bank of England and Mohamed El-Erian, chief economic adviser to Allianz and author of international best-seller: The Only Game in Town.
For the first time in the event's history, we were thrilled to welcome HE Shaikh Ahmed bin Mohammed Al Khalifa, Bahrain's Minister of Finance and HE Mr Zayed R. Alzayani, Bahrain's Minister of Industry, Commerce and Tourism, to the Euromoney stage.
Additional highlights of the event included the traditional 'town-hall' meeting with HE Mr Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain, a live interview with HE Mr Khalid Al Rumaihi, Chief Executive of the Bahrain Economic Development Board, as well as a keynote session with Mahmood H. Alkooheji, Chief Executive Officer, Mumtalakat.
Thank you to all of our sponsors, speakers and attendees for contributing to the success of this year's Forum. We look forward to welcoming you back once again in February 2019.
Bahrain FinTech Bay
Date: Wednesday 21 February 2018
In November 2017, the Bahrain Economic Development Board and the FinTech Consortium launched Bahrain FinTech Bay, the largest dedicated FinTech hub in the Middle East and Africa. Based in the Arcapita building and spanning an area of over 10,000 square feet, the new hub aims to further the development of Bahrain’s FinTech ecosystem, nurture corporate innovation, accelerate indigenous Fintech startups, and foster collaboration between industry stakeholders. Bahrain FinTech Bay will be operated and integrated within the FinTech Consortium’s global network and work closely with innovators in New York and Singapore. Join us for the official opening on February 21st.
If you are interested in attending, please click here.
Created with flickr slideshow.