Top tier wholesale Islamic Investment bank, Ibdar Bank, was a gold sponsor at Bahrain’s first ever e-Pay Summit. The Summit, a platform dedicated to Electronic Payment, Internet Banking, technology and applications, was held under the patronage of the Central Bank of Bahrain at the Ritz Carlton on the 27 and 28th March 2018.
The event, designed to encourage growth in the Fintech industry and strengthen Bahrain’s position as a regional financial hub, brought together experts from the Banking, FinTech, eCommerce, Retail and Telcos industries to present practical cases and share their in-depth experiences on innovation, Usability and Customer Adoption, Cyber-security, E-Payments Infrastructure & Regulation, Technological disruption and Innovation in the payment landscape.
Commenting on the sponsorship, Ibdar Bank Chief Executive Officer, Mr. Ayman Sejiny said: “Payment processing and electronic payment technology is rapidly evolving, and the e-Pay Summit is a great platform to engage and debate the opportunities and challenges these disruptive financial technologies will bring.”
During the conference, Sejiny discussed the opportunities Fintech is bringing to financial institutions in Bahrain, enthusing that: “Fintech is all about financial inclusion, however success in financial inclusion entails reaching out globally to individuals and small businesses with products that go beyond payments and that can significantly improve their financial lives. Banks in Bahrain can use Fintech technologies to sell products to a potential 1.6 billion new customers in emerging economies.”
Ibdar Bank is focusing on serving the Global Islamic Digital Economy (GIDE) and is currently transforming its operations through the digitization of its Back-, Middle-, and Front-Office operations and processes. The comprehensive plan will also witness the further development of the Bank’s advisory capacity with regards to financial products for the digital economy and a strong emphasis on fully digitalized products for the Blockchain economy, Cryptonomics and their deployment in the public and private sector.