FinTechSpace has signed a Memorandum of Understanding (MoU) with Bahrain FinTech Bay (BFB). The MoU was signed today, and it signifies the beginning of a fintech partnership between the Middle East regions and Taiwan.
Speaking on the MoU signed with BFB, the Director of FinTechSpace, Sam Hung, said, “Since its inception, FinTechSpace has actively established cooperative relationships with overseas fintech hubs. Through this collaboration, we look forward to pushing Taiwan’s fintech capabilities onto a broader international stage.”
The MoU between FinTechSpace and BFB covers various collaborative resources, including workspaces, fintech company referrals, local presentations, and community network resource sharing.
Suzy Al Zeerah, the COO of Bahrain FinTech Bay, expressed high expectations for the partnership. She said, “By partnering with Taiwan’s FinTechSpace, we can assist fintech companies from both sides to expand in the Bahraini and Taiwanese markets, promoting the mutual growth of our digital economies.”
The Middle Eastern market has been actively investing in digital infrastructure and applying emerging technologies in financial services. Bahrain has taken the lead in this space, being the first in the region to introduce a regulatory sandbox and open banking mechanism alongside setting regulatory frameworks for cryptocurrency and cloud services.
With strong support from the government, BFB has become the country’s premier fintech platform, offering innovation labs, acceleration programs, curated activities, and educational initiatives. To date, it has attracted over 135 fintech companies, positioning Bahrain as a base for fintech expansion into the Middle East.
Since its establishment in 2018, FinTechSpace has actively sought to link overseas market resources and establish fintech MoUs. This agreement with Bahrain FinTech Bay makes Bahrain the first partner in the Middle East within FinTechSpace’s international collaboration network, which now includes 16 global partners.
Spanning 19 regional markets and connecting with 33 international organizations, the partnership between FinTechSpace and Bahrain FinTech Bay is expected to strengthen the understanding of the Asia-Pacific and Middle Eastern markets.
