Bahrain Institute for Banking and Finance (BIBF) held a Financial Technology seminar (FinTech) focusing on the upcoming trends in FinTech pertaining to Bahrain and the wider GCC market.
The seminar was led by experts from Europe and the GCC who discussed the upcoming trends in FinTech especially focusing on payment solutions – the single most important area for the Middle East as a whole. The experts also collaborated with the attending audience to discuss how to integrate these solutions as part of Islamic banking operations and activities.
BIBF’s Deputy Director. Dr. Ahmed Al-Shaikh said: "The BIBF strives to provide comprehensive business solutions and exceptional learning opportunities that match local and regional market conditions. This seminar comes as part of these efforts, shedding light on the inventive and ingenious financial technology solutions that have transformed the sector, and presents a framework for how these solutions can be integrated as part of enormously successful Islamic finance sector."
Head of the BIBF Islamic Finance Centre, Mujtaba Khalid showcased a customable app that facilitates Islamic retail banking consumers to manage their finances, make Sharia compliant investments and make both online and offline payments. This app was developed in-house by the BIBF Islamic Finance Centre in partnership with European based UPaid. 
This is in-line with BIBF Islamic Finance Centre’s strategy to leverage technology to help progress the global Islamic finance industry. The Islamic Finance Centre is launching its online e-Learning portal on February 26.

Source: BNA