(MENAFN) Bahrain was affirmed by a prominent government official to be successfully making its way to become a leader in FinTech within the region and, in the near future, around the globe.
The field of FinTech was confirmed to be witnessing constant progress in Bahrain, while challenges for the private sector have been defeated by a range of government programs.
The statement has been made by Khalid Al Rumaihi, Chief Executive Officer of the Economic Development Board (EDB) during an interview with Tribune.
Al Rumaihi noted "this is a new global phenomenon. Being a young industry, countries are still filling up regulations."
He added "everyone is trying to come to terms, especially with regulations in financial services. You need to protect consumers, money flows, ensure transparency, protect against money laundering etc."
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