GCC Nations Advance Fintech Innovation and Regulation

GCC Nations Advance Fintech Innovation and Regulation

20 FEB 2025

The Gulf Cooperation Council (GCC) is witnessing significant strides in financial technology (fintech) development, with Saudi Arabia and Bahrain implementing key initiatives to foster innovation and ensure regulatory compliance.

Saudi Arabia's Fintech Regulatory Sandbox

On 5 February 2025, the Saudi Central Bank (SAMA) announced the launch of its Regulatory Sandbox, designed to enable fintech companies to test innovative financial products and services within a controlled environment. This initiative aims to attract both local and international fintech firms seeking to leverage new technologies to deliver novel financial solutions in the Saudi market. The sandbox provides a live testing environment where financial institutions and fintech companies can trial new business models with real consumers under defined parameters and oversight.

Bahrain's Cryptocurrency Regulatory Framework

In a pioneering move within the GCC region, the Central Bank of Bahrain (CBB) has issued a comprehensive regulatory framework for crypto-assets. The framework encompasses licensing, governance, minimum capital requirements, control environment, risk management, anti-money laundering and combating the financing of terrorism (AML/CFT) measures, and cyber security for crypto-asset services. It also includes regulations for crypto-asset exchanges, addressing aspects such as order matching, transparency, and measures to prevent market manipulation and abuse.

These developments underscore the GCC's commitment to embracing financial innovation while ensuring robust regulatory frameworks are in place to maintain market integrity and protect consumers.

Stay Informed with j. awan & partners

At j. awan & partners, we are dedicated to keeping you informed about the latest regulatory developments in the fintech landscape. Our team of experts is ready to assist your organisation in navigating these changes and leveraging new opportunities in the evolving financial sector.

Contact us today to learn how we can support your fintech initiatives and ensure compliance with emerging regulations.

Email: info@jawanpartners.com | Visit: jawanpartners.com

Stay up to date with our latest news

The Gulf Cooperation Council (GCC) is witnessing significant strides in financial technology (fintech) development, with Saudi Arabia and Bahrain implementing key initiatives to foster innovation and ensure regulatory compliance.

Saudi Arabia's Fintech Regulatory Sandbox

On 5 February 2025, the Saudi Central Bank (SAMA) announced the launch of its Regulatory Sandbox, designed to enable fintech companies to test innovative financial products and services within a controlled environment. This initiative aims to attract both local and international fintech firms seeking to leverage new technologies to deliver novel financial solutions in the Saudi market. The sandbox provides a live testing environment where financial institutions and fintech companies can trial new business models with real consumers under defined parameters and oversight.

Bahrain's Cryptocurrency Regulatory Framework

In a pioneering move within the GCC region, the Central Bank of Bahrain (CBB) has issued a comprehensive regulatory framework for crypto-assets. The framework encompasses licensing, governance, minimum capital requirements, control environment, risk management, anti-money laundering and combating the financing of terrorism (AML/CFT) measures, and cyber security for crypto-asset services. It also includes regulations for crypto-asset exchanges, addressing aspects such as order matching, transparency, and measures to prevent market manipulation and abuse.

These developments underscore the GCC's commitment to embracing financial innovation while ensuring robust regulatory frameworks are in place to maintain market integrity and protect consumers.

Stay Informed with j. awan & partners

At j. awan & partners, we are dedicated to keeping you informed about the latest regulatory developments in the fintech landscape. Our team of experts is ready to assist your organisation in navigating these changes and leveraging new opportunities in the evolving financial sector.

Contact us today to learn how we can support your fintech initiatives and ensure compliance with emerging regulations.

Email: info@jawanpartners.com | Visit: jawanpartners.com

20 FEB 2025

GCC Nations Advance Fintech Innovation and Regulation

Our Company

Our Culture

Our History

Our Leadership

Our Offices

Empowering
global organisations
through strategic advisory & technology-driven solutions

A decade of excellence

At j. awan & partners, our corporate culture is built on the principle of One Team

Bringing together
decades of industry expertise

We operate
from 9 different locations
around the world

Global Expertise, Local Knowledge: Your Licensing Partner Across the World

Regulatory Authorisation

Outsourcing

Advisory Services

Tax & Accounting

Corporate Services

Recruitment & HR Solutions

Training & Education

Assurance

Streamline your regulatory journey with comprehensive, end-to-end licensing support

Setting up a regulated presence in a new jurisdiction involves navigating a complex landscape of regulation and compliance requirements, making it a time-consuming and resource-intensive process.

Enhance your operational capabilities with top-tier compliance, finance, risk management, and data protection support

Managing compliance, finance, risk, and data protection internally can drain resources and distract from core operations, risking inefficiencies and compliance lapses.

Navigate regulatory changes and optimise your business strategy with expert regulatory advisory support

Achieving your business objectives and gaining a competitive edge in today’s ever-evolving regulatory landscape requires deep experience, strategic foresight, and a proactive approach.

Optimise your accounting and tax strategy, identify opportunities for savings, and stay ahead of any changes in tax legislation

Effective accounting and tax management, including accurate bookkeeping, is vital for financial success. Without expert guidance, companies risk missed opportunities for financial and tax optimization and may face compliance challenges that impact financial performance.

Streamline entity formation, management & administration through our comprehensive suite of corporate services

Whether you are establishing a new company, setting up a trust or foundation, or ensuring the smooth operation of an existing entity, our team will support you every step of the way.

Attract, retain, and manage top talent in today’s competitive market

At j. awan & partners, our HR services go far beyond recruitment, offering you comprehensive support across all aspects of human resources management.

Equip your team with the necessary knowledge & skills to navigate complex regulatory requirements and meet international standards effectively

Navigating the ever-evolving regulatory landscape requires continuous learning and adaptation, making training and education a crucial element of success for any organisation

Strengthen your internal controls, enhance operational efficiency, & ensure compliance with regulatory requirements

Robust compliance monitoring and internal audit functions are essential for identifying risks, safeguarding assets, and driving continuous improvement within any organisation.

Empowering global organisations through strategic advisory & technology-driven solutions