Manama, July 3 (BNA) The leading open banking services company in the Gulf Cooperation Council (GCC) countries, Spire, is preparing to expand its operations in Bahrain and the Middle East and North Africa region through an investment plan worth 15 million Bahraini dinars with the support of the Bahrain Economic Development Board.
This expansion will create 200 jobs over the next three years in the high-value data science and artificial intelligence sectors.
Spire graduated from the Central Bank of Bahrain’s Open Banking Protection Fund (CBB) and was approved by the Central Bank of Bahrain to provide open banking services in Bahrain.
Spire aims to provide open banking compliance infrastructure and strategic financial management solutions to banking and small business clients.
“Open banking will comprehensively change how banks and fintech interact with the larger economy,” said Osama Al Khaja, Chairman of Spire Technologies.
“Spire empowers individuals and businesses and will help create innovative and affordable financial solutions. Bahrain has been a natural choice for Spire to launch its business in the MENA region due to the Kingdom’s strong regulatory framework, talent, and support from the Economic Development Board and the Central Bank.”
“The success of Spire reflects Bahrain’s strong financial services ecosystem, including open banking, and we are pleased to support the company in its expansion and see that it benefits from Bahrain’s pro-innovation regulatory framework and collaborative team approach in Bahrain,” Economic Development Bank for Financial Services, Technology and Innovation CEO Musab Abdullah said.
ZHB