Bahrain wants to be the next fintech hub.
The small Persian Gulf country is emulating Singapore, which is positioning itself as the center of fintech in east Asia.
The goal is to make Bahrain where “entrepreneurs come to test their ideas and services,” said David Parker who heads Bahrain’s Economic Development Board.
Bahrain was once recognized as the top financial hub in the Middle East but political unrest caused it to lose its edge in recent years.
Low oil prices have also taken an economic toll.
Parker is planning the launch of a new fintech venture capital fund and hub.
Photo credit: Kazi Mahmood