In recent years, the Kingdom of Bahrain has taken important steps to nurture and grow its FinTech ecosystem, including the introduction of a FinTech unit at the Central Bank of Bahrain (CBB), the creation of a regulatory sandbox, and the development of new regulations for the digitalization of banking and payment services. As a result of government and private-sector efforts, the number of FinTech companies in Bahrain has increased by 100% since 2018, with the Kingdom now home to more than 120 FinTech entities including digital banks, mobile payment solution providers, crowdfunding platforms, and open banking service providers.

The FinTech Sector Skills Report was developed through a comprehensive methodology, including international benchmarking, adherence to International Labour Organization guidelines, and consultations with a Sector Working Group representing key players in the industry that was formed in collaboration with Bahrain FinTech Bay, to gain deep insights into the specific needs and dynamics of Bahrain’s FinTech sector.