Bahrain Association of Banks (BAB) conducted its first annual forum under the theme of “FinTech: Opportunities & Challenges”. The event was placed in Gulf Hotel- Bahrain on 31st October 2018 under the patronage of H.E Mr. Rasheed Al Miraj, Governor of Central Bank of Bahrain (CBB).
The forum aimed at raising the awareness of FinTech opportunities and challenges among the bankers in Bahrain, due its substantial effect on the financial industry globally. In this regard, BAB took the initiative of delivering this theme through discussing major topics related to FinTech with experts in different FinTech fields, both locals and internationals. Following are the key topics discussed during the forum:
- Addressing the Human Capital Gap
- Legal and Regulatory Considerations
- The relationship between banks and FinTechs
- Fostering better FinTech ecosystem
Additionally, the forum had three valuable inputs covering the above areas including: Chairman of BAB, Mr. Adnan Ahmed Yousif opening remarks, H.E Mr. Rasheed Al Miraj, Governor of Central Bank of Bahrain interview, and Mr. Melisah Utku, General Manager of Al Baraka Turk keynote speech. It is worth noting that the keynote speech covered the experience of the bank in the digital and FinTech age. Finally, the forum was concluded with the launch of Bahrain FinTech Talent Report by Bahrain FinTech Bay (BFB). The logistics sector is the fourth sector to be focused on, while the fifth sector is in technology, also a promising sector. Rumaihi said that Saudi Arabia has been a trailblazer for economic diversification for other Gulf States that draw inspiration from the Kingdom’s plans for economic reform.