Bahrain FinTech Bay (BFB) and the Qatar Financial Center Authority (QFCA) have entered into a Memorandum of Understanding (MOU), marking a significant step towards collaborating in the fintech sector across the region.

This MOU establishes a robust framework for cooperation, focusing on supporting the growth of startup networks and facilitating the exchange of knowledge between the two entities.

The agreement showcases the mutual commitment of BFB and QFCA to provide assistance for startups exploring business opportunities within each other's jurisdictions. Notably, the MOU includes provisions for co-working space access in Bahrain and Qatar for startups associated with BFB and QFCA during their business travels, ensuring seamless operations and networking opportunities.

Additionally, both organizations have pledged to support startups in their expansion plans into Bahrain and Qatar, respectively, utilizing their extensive networks and local market insights. Furthermore, BFB and QFCA aim to engage in collaborative research initiatives in fintech and related areas, fostering innovation and the sharing of expertise. This strategic partnership reflects a shared vision for advancing the fintech landscape and promoting cross-border growth in the sector.