Bahrain’s Al Salam Bank has joined the ‘Open Innovation Programme’, an innovative initiative supported by Bahrain’s Labour Fund (Tamkeen) and managed by Brinc MENA.
With this move, Al Salam Bank becomes the first bank to join this initiative, highlighting its commitment to driving fintech innovation while elevating Bahrain’s financial sector.
Launched in December 2024, this pioneering program connects leading enterprises with innovative Bahraini startups and SMEs, focused on cultivating cutting-edge solutions that tackle challenges faced by the enterprises. It aims to enhance operational efficiency and drive sustainability and economic growth.
Maha Abdulhameed Mofeez, Chief Executive of Tamkeen, Anwar Murad, Deputy CEO – Banking at Al Salam Bank, and Husain Haji, Managing Director of Brinc MENA, signed the agreement. The partnership will enable Al Salam Bank to work with selected startups and SMEs, co-financing the development of proof-of-concepts (POCs) and pilot solutions that address the bank’s strategic challenges and opportunities.
This collaboration falls in line with Tamkeen’s 2025 strategic priorities, which focus on enhancing the Kingdom’s private sector, fostering enterprise growth, and driving digital transformation.
A joint committee with representatives from Tamkeen, Brinc, and Al Salam Bank will oversee the selection and development of startup-led solutions, aimed at enhancing financial innovation.
The program will also facilitate the co-development of innovative technologies that meet the evolving needs of the financial sector.
Startups and SMEs in Bahrain with innovative technology solutions can apply. Selected participants will get the opportunity to join a six-month accelerator program, offering tailored mentorship, funding, and the opportunity to pilot their solutions with Al Salam Bank.
With this strategic partnership, Al Salam Bank, Tamkeen, and Brinc are set to drive financial innovation and startup-led growth in Bahrain.
