Riyadh – Sharikat Mubasher: Jeel, the innovation arm of Riyad Bank and operator of Saudi Arabia’s fintech sandbox accelerator, signed a strategic partnership with Bahrain FinTech Bay (BFB) to strengthen cross-border collaboration and advance the regional fintech ecosystem.
As per a recent press release, the agreement establishes a framework for knowledge exchange, regulatory cooperation, and startup support between the two markets. By linking Jeel’s sandbox accelerator with BFB’s global sourcing network, the partnership will create new pathways for fintechs to expand, scale solutions, and access regional markets with greater regulatory confidence.
Both parties will collaborate on joint programs, reports, and engagement initiatives, including Jeel’s participation in Bahrain’s ‘FinTech Forward’ and BFB’s involvement in Jeel’s Innovation Lab & Studio. The MoU also lays the groundwork for Jeel’s upcoming Banking-as-a-Service platform, designed to help fintechs move from testing to large-scale deployment.
The partnership reinforces Saudi Arabia and Bahrain’s shared ambition to position the GCC as a leading global fintech hub, aligned with national strategies to drive digital innovation and sustainable economic growth.
Worth mentioning, Jeel has recently launched its Jeel Sandbox, a home-grown banking-as-a-service (BaaS) platform, in partnership with the Saudi Central Bank (SAMA) and Fintech Saudi, during the Money 20/20 Middle East conference. This enables fintech firms and startups to test and solidify their solutions in preparation for submission to SAMA.
