Wednesday 14, March 2018 by Jessica Combes

Ibdar Bank founding member of Bahrain Fintech Bay


Wholesale Islamic Investment bank, Ibdar Bank, has announced that it is a founding member of Bahrain FinTech Bay (BFB).

The initiative is driven by the Bahrain Economic Development board (EDB) and the Central Bank of Bahrain (CBB) amongst other notable governmental, semi-governmental and private sector entities, underscoring the Bank’s commitment to positioning Bahrain as a regional fintech hub and a leading digital Islamic financial epicentre. 

“I am pleased to announce that the Bank is a founding member of Bahrain FinTech Bay. Ibdar Bank's strategy is to digitally transform its operations in order to cater to the needs of a Global Islamic digitised Economy (GIDE) and this partnership is in line with that vision. The Bank, in its comprehensive transformation plan, is currently digitising its Back-, Middle-, and Front-Office operations and processes, whilst building an expert in-house Digital Finance Team,” said Ayman Sejiny, CEO, Ibdar Bank. 

Ibdar Bank’s digital strategy will also witness the further development of its advisory capacity with regards to financial products for the digital economy and a strong emphasis on fully digitalised products for the Blockchain economy, cryptonomics and their deployment in the public and private sector.  

“Fintech is the most disruptive event in financial history set to enable digital Islamic finance products in a most competitive manner, and with the strong support provided by the Government of Bahrain and the Central Bank of Bahrain, Bahrain FinTech Bay will further reinforce the Kingdom’s strong financial position,” said Sejiny.


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