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Jersey signs "landmark" digital innovation agreement with Bahrain

Jersey signs

Friday 03 May 2019

Jersey signs "landmark" digital innovation agreement with Bahrain

Jersey and Bahrain are set to work more closely together on digital innovation, encouraging more women into the tech sector, and helping entrepreneurs, after the two jurisdictions signed an agreement.

The Memorandum of Understanding (MoU) was signed yesterday by representatives from Digital Jersey and the Bahrain Economic Development Board (EDB).

One aspect of the agreement is to give members of both Digital Jersey and Bahrain FinTech Bay - the FinTech hub in the Middle East and Africa - an opportunity to share experiences and open the door to joint projects.

Tony Moretta, the CEO of Digital Jersey, said: "Today is a landmark day in the story of Jersey’s growing and thriving tech sector. We’ve reached a level of maturity and confidence here in the island together with a proven track record of innovation and entrepreneurial spirit in a well-regulated environment. It means we’re ready to look further afield and, in line with Government priorities, drive collaboration with strategically important markets such as Bahrain."

The agreement will see Jersey and Bahrain working to promote the benefits of businesses operating in each others’ locations, further collaboration of women in the sector, and an opportunity for members of Digital Jersey and Bahrain FinTech Bay to use both agencies’ shared working spaces, platforms and knowledge.

Commenting on the MoU, David Parker, Executive Director for Business Development - Financial Services at the EDB noted: “Jersey is a natural partner for Bahrain. As agile and nimble financial services hubs, we both understand what the next generation of FinTech companies want. International cooperation, easy access to larger markets and flexible regulatory systems are key drivers of business success and are defining characteristics of Bahrain and Jersey.”

Jersey’s Minister for External Relations, Senator Ian Gorst, added: "The MOU sets out practical steps for fostering closer collaboration between our respective start-ups and women tech entrepreneurs, and I am confident this exciting new partnership will help deliver commercial successes for fintech businesses in Jersey and Bahrain."

(Lead picture by Ryan O'Shea)

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