UK fintech firms salutation in Bahrain in wake of Brexit, says Bahrain EDB CEO

Bahrain is “idealistic” it will almost certainly exploit Britain’s approaching way out from the European Union as more UK firms search abroad for business openings, said Bahrain Economic Development Board CEO Khalid Al Rumaihi.

While Al Rumaihi said that the UK is in dialogs with the GCC, point by point discourses can’t continue until Brexit is finished.

“The UK is currently going to need to set up free exchange relations and will concentrate on enabling British organizations to extend,” he said. “Brexit will free requirements that they have.”

In his comments, Al Rumaihi said that the UK is now “a noteworthy centre” for the EDB, with Bahrain and whatever remains of the GCC as of now purchasers of UK administrations of different kind.

“Be that as it may, we’re progressively sure that Brexit will enable us to use what the British need to do remotely,” he included.

In the fallout of Brexit, Al Rumaihi said that the Bahrain EDB may extend its current office in London.

Among the most essential parts of the post-Brexit Bahrain-UK exchange relationship, he included, will be monetary innovation organizations.

In late January, Innervate, a UK-based fintech start-up, reported that it had picked Bahrain to open its first local office. The organization has some expertise in the improvement of client relationship the board innovation.

“The City of London has an extraordinary FinTech scene. That is a prompt region of enthusiasm as these organizations need to go to the Middle East,” he said. “On the off chance that a firm is endorsed by the Bank of England and the controller there, it will be a lot simpler to relocate here.”

In late December, Simon Penney, Her Majesty’s Trade Commissioner for the Middle East, Afghanistan and Pakistan, revealed to Arabian Business that he trusts that Brexit will be a “positive story” for the GCC and for British organizations that are doing or would like to work together in the area.

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