Bahrain to host Fintech event for entrepreneurs

Organizers of the renowned World Islamic Banking Conference (WIBC) - with the strategic support of the Bahrain Economic Development Board (EDB), will introduce a fresh concept for visionaries in the tech industry to explore prospects in the financial sector. Enterprise Excellerate - or E-Squared - is a venture that aims to bring together key players and investors from the GCC region to Bahrain, leveraging the country’s strong record in supporting growth in the Middle East, its leadership in Islamic finance, and initiatives to foster an entrepreneurial ecosystem. The event will take a place alongside WIBC 2016 on the 5th of December at the Gulf Hotel, Manama, Kingdom of Bahrain.

ME Global Advisors - an intelligence platform serving emerging and frontier markets - is known for spearheading various initiatives including the historic World Islamic Banking Conference that extols a heritage of over 23 years. In its 22nd edition, WIBC introduced new content and expanded its focus on sustainable and inclusive growth with innovation in finance and banking. This year, WIBC will reinforce its partnership with the EDB by introducing a unique platform for entrepreneurs to explore new financial technology (Fintech) opportunities in Bahrain and contribute to the investments in the FinTech sector, which in turn will help increase the competitiveness of the country's economy.

As part of its mandate of supporting the growth of the Kingdom's economy, the EDB is looking at FinTech as a subsector with high potential in Bahrain and one with opportunities for investors, benefiting from its already strong Financial Services sector and established technology infrastructure. E-Squared is a significant step for both the EDB and ME Global Advisors as it works towards building an entrepreneurial ecosystem and attracting investment to Bahrain. The conference will address the critical strategic issues faced by GCC governments, such as the need to spur youth employment, an ecosystem of innovation and entrepreneurship, and economic diversification.

Speaking on the pivotal role of hosting E-Squared in Bahrain, Mr. Khalid Al Rumaihi, Chief Executive of the EDB said: "The FinTech sector is rapidly growing and developing globally, and the GCC region's economic diversification efforts and shifting demographics create tremendous opportunities for development and growth. It is also a sector in which Bahrain's value proposition is particularly strong, building on our well-established financial services sector, well-educated and bilingual workforce, competitive operating environment and excellent digital connectivity."

"We believe that E-Squared offers a strong platform for us to build awareness about the FinTech sector and to explore local, regional and global opportunities for investment. We are looking forward to supporting this new event, as part of our long-standing relationship with the World Islamic Banking Conference."

E-Squared will center around 2 major areas: FinTech and Digital Banking and will predominately focus around innovation in financial technology. The conference will gather enterprise decision-makers to connect and exchange ideas on how to leverage technology to drive business growth within the Middle East, particularly in Bahrain. This summit will be the event to attend to cooperate with advanced FinTech hubs to build on progress, understand the value in a supportive start-up environment and look towards the future of digital banking.