Manama: International speakers at FinTech Forward 2025 commended Bahrain's growing role as a hub for innovation, regulatory clarity, and financial technology in the Middle East. The event brought together regional and global leaders to discuss trends, challenges, and opportunities in the fintech ecosystem.
According to Bahrain News Agency, Melanie Noronha, Principal for New Globalisation, Policy and Insights at Economist Impact, highlighted Bahrain's regulatory approach as a key factor for fintech growth. "Governments in the region are collaborating with the private sector to shape regulation that allows innovation to thrive while protecting consumers. Bahrain has found the sweet spot," she said. Noronha, who moderated sessions on investor mindsets and fintech strategies, emphasized the importance of connecting startups with capital and noted the youth and energy in Bahrain's fintech ecosystem as promising for the future. She also highlighted payments innovations and the evolving role of stablecoins, stressing the need for collaboration across the financial sector. "AI is hugely disruptive. We are at the bottom of the innovation curve now, and in a few years, we will see a lot of transformation. Doing it right, cautiously, with the right guardrails, is incredibly important," she added.
Mohamed Fairooz, Middle East Lead at SC Ventures, highlighted Bahrain's strategic location, human capital, and regulatory framework as drivers of fintech growth. "Bahrain has always been, and continues to be, a financial hub. Its geographical location, clear government vision, and skilled workforce make it a key player not just regionally, but globally," he said. Fairooz highlighted AI and digital assets as transformative technologies for financial services. "AI is shaping both current services and the future, improving efficiency and cross-border connectivity. Digital assets can provide faster, more efficient global remittances while complementing traditional rails," he explained. He also noted the potential for wealth management and SME platforms, emphasizing governance and alignment with Bahrain's 2030 economic vision. "SMEs play a key role in the economy, and digital platforms can provide financing, logistics, and value-added services to help them grow," he said.
Farah Foustok, Founding Partner and Strategic Advisor at ALARA Partners, underscored Bahrain's unique human-centric approach to fintech. "Bahrain has the heart of innovation, from open banking to regulatory openness and sandboxes. Its size is manageable, and that balance allows the country to maintain control while continuing to grow," she said. Foustok highlighted the region's youthful population and adaptability as key to driving future transformation. "Roughly 65 percent of the region is under 30. We have the youth, resilience, and courage to navigate constant change. Business models must evolve, and people must learn to think beyond the linear and mechanical," she said. She also emphasized a shift toward regenerative, sustainable approaches in finance, with collaboration and win-win solutions at the center. "The future must be about compassion, understanding, and building together; it's not about one side winning and the other losing," she added.
Cynthia Wandia, Co-founder and CEO of Kwara, highlighted the importance of collaboration, trust, and AI in driving the next wave of fintech innovation in Bahrain. "Bringing an incredible group of people together, led by economists and the questions they're asking, is one of the best ways to start making Bahrain a hub for innovation and continuous progression," she said. Wandia noted that AI can enhance efficiency while allowing for a more human touch in financial services. "AI allows us to process data much more efficiently and also provides an opportunity for a more human touch. A lot of the automated part can be supported by AI," she explained. She also stressed the need to balance innovation with trust and regulation. "All parties need to work toward a shared goal. Regulation aims to support innovation for a more prosperous economy, innovators want to push limits, and consumers need to trust that their interests are protected," Wandia said.