The Future of Finance and Fintech: Visualizing the Opportunities for Fintech in the MENA Region

M. Kabir Hassan, Habeeb Ur Rahiman (), Mustafa Raza Rabbani () and Asem Alhomaidi ()
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Habeeb Ur Rahiman: Kingdom University
Mustafa Raza Rabbani: University of Bahrain
Asem Alhomaidi: King Saud University

A chapter in FinTech in Islamic Financial Institutions, 2022, pp 89-111 from Springer

Abstract: Abstract The study tries to provide visualization of the Fintech ecosystem in the MENA region. The global financial market is undergoing unprecedented change with the COVID-19 pandemic and the evolution of disruptive technology called Fintech. Fintech has completely changed the landscape of the financial sphere across the globe. One of the key outcomes of the MENA region is establishing a friendly, permissible, and governing atmosphere for Fintech startups and matured development proposals through progress-thinking programs. An essential part of this approach is establishing a facilitating environment adept of inviting and encouraging foreign firms contained by their corresponding countries. The study concludes that the information transfer likely to result from this will push the advancement of a lively, regional Fintech ecosystem. Most noticeably, counties like Bahrain and the UAE are initially on in their attempts to build into the Fintech hub in the area. Most of the countries in the MENA region are adopting and considering the outcome of Fintech and putting their efforts to establish a sustainable Fintech ecosystem. The study is expected to help the financial institutions, investors, and regulators in formulating the right strategy in embracing this disruption to get the maximum benefit out of it.

Keywords: Africa; Fintech; Disruption’ Innovation; Financial market; MENA (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-14941-2_5

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DOI: 10.1007/978-3-031-14941-2_5

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