KUALA LUMPUR: Bahrain hopes to collaborate with Malaysia’s financial sector as both markets are in similar development phases with regards to financial technology (fintech), says Bahrain Economic Development Board (EDB) financial services executive director David Parker. “We can work on our strengths because Malaysia and Bahrain both have relatively newly implemented policies when it comes to fintech. The licence enables Belfrics to test their financial technology solutions in Bahrain, en route for the country to become a leading fintech hub in the region. Bahrain Economic Development Board financial services executive director David Parker says Malaysia and Bahrain can work together on financial technology as both countries have relatively newly implemented policies. He added that the financial services sector in Bahrain was the biggest contributor to the country’s gross domestic product after oil and gas, at 17 per cent.

Source: New Strait Times April 02, 2018 03:45 UTC