Bahrain creates test centre for fintech

FinTechBahrain has set up a regulatory structure to allow financial technology companies to test products and services for a maximum of one year. The regulatory “sandbox” is a virtual space for local and foreign companies to demonstrate their products prior to a roll-out in Bahrain. “The regulatory sandbox will enable industry players to apply innovative fintech products while maintaining the overall safety and soundness of the financial system,” said Khalid Hamad, executive director of banking supervision at the Central Bank of Bahrain. Bahrain began licensing non-banking companies to conduct financial activities in 2014, when it created licences for payment services and card processing services. It says it has issued 14 licences for these services so far. Across the MENA region, regulators are struggling to strike a balance between fostering innovation in fintech without compromising the stability of the banking sector. ©2017 funds global mena

Executive Interviews

EXECUTIVE INTERVIEW: A natural interest in the topic

Mar 08, 2017

Since 2016, Guillermo Ortiz has been a chairman of Latin America’s BTG Pactual. The former central banker of Mexico talks to Nick Fitzpatrick.

We’ll launch our first equity fund next year

Dec 08, 2016

Not many banks plant olive trees, but the Bank of Palestine has a social mission. It also has ambitious expansion plans, says chairman Hashim Shawa. He talks to George Mitton.



Mar 08, 2017

The move to a three-day settlement cycle, the appearance of new stock exchanges, and recent rules on hedge funds were discussed by our panel in Cape Town. Chaired by George Mitton.

ROUNDTABLE: Growing pains

Mar 08, 2017

Our panel in Qatar spoke about frustration with regulators, a shortage of listed companies and plans for a new financial city in Doha. Chaired by George Mitton.