Almas Nexus, an alternative investment FinTech firm, based in the USA and the Bahrain Economic Development Board (EDB) signed a Memorandum of Understanding to work together in the field of FinTech innovation. Institutional investors from Bahrain, the rest of the GCC, Europe, and Asia will have access to the Almas’ platform.
David Parker, the Executive Director of Financial Services at the EDB said the agreement came at a right time, as currently, the FinTech industry is blooming in the Kingdom. Furthermore, many startups began choosing Bahrain as the place to develop their products and services, turning the kingdom into an attractive destination for innovation.
The CEO of Almas, Mark Nichols, commented he was pleased by EDB’s support, stating his primary goal was to provide Bahraini wealth managers and institutional investors with access to premium sources which were not available to them.
Almas is the first international investment FinTech firm with such significant presence in the Gulf region. Its one-of-a-kind technology platform extracts unique sources of investment returns and delivers them back to its global network of investors. In addition to that, it brings multinational insurance companies, institutional investors, and financial advisors together by offering a tailor-made selection of innovative and tax-efficient products and services. It is currently in the process of opening branches in Bahrain, Singapore, and Dublin. Its high-qualified management team has extensive experience in wealth management, private equity, and international finance.
Almas and Bahrain will collaborate to develop and nurture the local FinTech talents and cement Bahrain’s position as a leading incubator of innovative FinTech solutions.