The Arab Monetary Fund (AMF) and Bahrain FinTech Bay (BFB) have taken steps to strengthen their partnership, by signing a Memorandum of Understanding (MoU) on the sidelines of Dubai Fintech Summit and the AMF Fintech events in Dubai. 

 

Under the MoU, the two institutions establish a comprehensive framework for collaboration, spanning various critical areas, and how best to leverage their respective comparative advantages to address their shared vision towards building a robust and agile fintech ecosystem and making digital financial services work for financial inclusion and stability across the Arab region. 

 

The MoU was signed by the Fahad Alturki, PhD, Director General Chairman of the Board of the Arab Monetary Fund and Bader Sater, the Chief Executive Officer of Bahrain FinTech Bay.

 

Financial innovation

This MoU crystallises future collaboration between AMF and BFB in advancing financial innovation and inclusion throughout the Arab region and a number of joint activities have been identified, including in the areas of (i) collaborative research, and publications; (ii) capacity development activities; (iii) joint events and workshops, (iv) tailored educational programmes, among others.

 

Fahad Alturki, Director General Chairman of the Board of AMF, said: “The AMF is committed to working with the BFB and our other international and regional partners to support fostering financial innovation and sustainability across the region. Together, we aim to empower entrepreneurs, advance financial literacy, and drive inclusive economic growth, ultimately shaping a brighter future for the Arab region.” 

 

Bader Sater, the Chief Executive Officer of Bahrain FinTech Bay, said: “This partnership signifies a key milestone in our commitment to advancing financial innovation in both the kingdom and the wider region. By joining forces with AMF, we aim to leverage our expertise and resources to create a more dynamic fintech ecosystem.”--TradeArabia News Service