Bank ABC and its subsidiaries, ila Bank and AFS, has joined forces with Bahrain Fintech Bay (BFB) to speed up the growth of the fintech ecosystem in Bahrain and the MENA region.

The strategic partnership is aimed at boosting the growth of the fintech ecosystem in Bahrain and the MENA region for a cashless, digital economy.

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Under the deal terms, Bank ABC Group representatives joined BFB’s advisory board to empower fintech startups to contribute towards the development of the country’s fintech landscape.

The partners will deploy fintech inclusive solutions specifically for large underserved blue-collar segments and youngsters below the age of 25 in the MENA region.

Bank ABC CIO Yousif Almas said: “At Bank ABC, we are dedicated to cultivating disruptive thinking and innovation in the financial services industry.

“We are delighted to facilitate the industry’s digital transformation through our collaboration with Bahrain Fintech Bay.”

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Bahrain Fintech Bay CEO Khalid Danish said: “We are delighted to announce our partnership across the Bank ABC group.

“Our commitment to enabling innovation within the financial services industry, coupled with our robust network of like-minded partners will further drive our strategic national efforts towards enhancing our digital economy.

“Through this collaboration, we will support Bank ABC Group’s endeavour to deliver best in class solutions and services to collectively position the Kingdom of Bahrain as the leading fintech hub in MENA.”