By Andrei Skvarsky.
Two major fintech hubs in Bahrain are going to merge after the buyout of Bahrain FinTech Bay (BFB), the company managing one of them, by Benefit, the firm running the other, under an agreement announced by the two companies in late September.
BFB has incubated more than 116 startups since its inception, the two firms said in a joint statement. According to the Bahrain Economic Development Board, a business promotion agency, BFB oversees the Gulf’s largest fintech hub.
Both BFB and Benefit provide various online services.
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