The Central Bank of Bahrain (CBB) and Fintech Galaxy announced the cooperation with the University of Bahrain (UoB) to offer support for the Masters in FinTech program at the University in Capstone Consulting Project.

Earlier this month, Fintech Galaxy Chief Product Officer – Abe Karar and the Central Bank of Bahrain had the honour to hold a kick-off session at FinTech Bay for the UoB Masters, sharing his expertise in FinTech, Open Banking and Open Finance. The students have been guided through the most interesting use cases and revealed some tips & tricks for agile and efficient adoption, implementation and functioning of these concepts in the local market.

This initiative comes as part of CBB's commitment to bolster the financial services sector's competitiveness and streamline the development of the local talent pool to meet the needs of the fast-evolving digital economy. Capstone Consulting Project is the final step in the Master in FinTech program at the University of Bahrain, during which the candidates put all that they have learned into practice by analyzing a real market challenge/problem and aiming at finding customer-centric solutions.

"The Central Bank of Bahrain (CBB) is thrilled to once again collaborate with Fintech Galaxy in supporting the prestigious University of Bahrain as we provide our backing to the second cohort of the University's distinguished Masters of Fintech program. Our commitment to empowering Bahraini youth involves engaging numerous financial institutions from Bahrain's financial sector while equipping students with essential skills and knowledge. This commitment is of the utmost importance to the CBB as we work diligently to ensure their preparedness for navigating and excelling in the swiftly evolving financial landscape, both in Bahrain and on a global scale. As the CBB's Technology Partner, Fintech Galaxy plays a pivotal role in mentoring these students, guiding them through innovative use cases in Open Banking and Open Finance as they work on their final Capstone projects," – Yasmeen Al-Sharaf, Director - FinTech & Innovation Unit at Central Bank of Bahrain.

The core objectives of this collaboration in the framework of the Capstone Consulting Project and under the aegis of the CBB are to enhance students' skills and prepare them to become effective contributors to Bahrain's FinTech industry and to play a role in the further development of an innovative, open and interconnected Financial Services ecosystem in the Kingdom aligned with CBB's digital strategy.

"A robust FinTech ecosystem is essential for Bahrain's future as a regional financial hub. As we enter our second year of collaboration with the University of Bahrain's Masters in FinTech program, we take great pride in our commitment to nurturing and empowering the local talent of Bahrain. By collaborating with the Central Bank of Bahrain and providing support with our Open Finance Platform, FINX, we strive to equip the next generation of FinTech professionals with the necessary skills and insights to drive innovation, foster collaboration, and ultimately create a thriving financial services landscape for the Kingdom," – Abe Karar, Chief Product Officer at Fintech Galaxy.

About Fintech Galaxy

Fintech Galaxy was founded in the United Arab Emirates as a global platform that fuels innovation in financial services, drives ecosystem collaboration, and facilitates Open Banking API integration between financial institutions and FinTech companies. Fintech Galaxy's platform - FINX - is redesigning finances by providing an Open Finance infrastructure that ensures secure and stable API integrations between all industry players and grants more control over data and payments to consumers.

More information: www.fintech-galaxy.com