Al Baraka Banking Group and Flat6labs signed an MOU to collaborate in a series of activities including creating the startup and entrepreneurship ecosystem, sharing knowledge, expertise and mentoring fintech startups.

“Innovative startups are critical for the resilience of Bahrain’s economy and for its continued growth. We are proud to support the future business leaders of Bahrain that can grow in and beyond Bahrain,” said Adnan Ahmed Yousif, president and chief executive of Al Baraka Banking Group.

"Our goal is to participate with the stakeholders in the development of the ecosystem for entrepreneurial innovation whereby entrepreneurs can develop their ideas into viable businesses and at the same time provide required tools and resources for scaling up,” said Sabah Almoayyed, chairperson of Flat6labs, Bahrain.

The signing took place at the Al Baraka Headquarters at Bahrain Bay.

Al Baraka Banking Group (B.S.C) is licensed as an Islamic wholesale bank by the Central Bank of Bahrain, listed on Bahrain Bourse and Nasdaq Dubai stock exchanges.