The two parties signed the agreement, last Tuesday, in Tel Aviv, in the presence of senior officials of the financial technology industry in Bahrain and leaders from the Israeli financial technology ecosystem. The Bahraini ambassador to Israel, Khaled Al-Jalahma, and the former head of the Mossad, Yoen Cohen, who currently heads SoftBank’s operations, were also present, according to the newspaper.
According to the new cooperation agreement, Israel Advanced Technology Industries (IATI), a comprehensive organization of high-tech, life sciences and Bahrain Fintech companies headquartered in Manama, will work together to facilitate networking and networking between startups and venture capital firms seeking to invest and expand in both regions.
Bahrain and Israel established diplomatic relations in September 2020 as part of the Ibrahim Treaty, which was made by the United States and paved the way for 4 Arab countries to normalize relations with Israel.