The agreement, signed between the Israeli Securities Authority (ISA) and the Central Bank of Bahrain (CBB), sets the stage for a closer working relationship in the fintech domain. It encompasses several key areas of cooperation:

Regulatory Framework Exchange:

The agreement outlines the sharing of insights and experiences in crafting fintech regulatory frameworks. This exchange of knowledge aims to facilitate smoother fintech market entry and operation for businesses in both countries.

Fintech Innovation Support:

Israel and Bahrain commit to supporting fintech innovation within their respective borders. This includes fostering an environment conducive to fintech startups, research and development, and collaboration between the public and private sectors.

Cross-Border Collaboration:

The deal encourages cross-border fintech collaboration, allowing Israeli and Bahraini fintech firms to explore opportunities in each other’s markets more efficiently. This facilitates access to a broader customer base and diverse fintech ecosystems.

Information Sharing:

The regulatory authorities will exchange information related to fintech trends, emerging risks, and best practices, enhancing their ability to address potential challenges in the evolving fintech landscape.

Israel, often referred to as the “Startup Nation,” is renowned for its vibrant fintech scene, with numerous fintech startups and technological advancements in the financial sector. Bahrain, on the other hand, has positioned itself as a fintech hub in the Gulf region, with a forward-looking regulatory environment and initiatives to attract fintech firms.