The Bahrain Association of Banks' (BAB) Board of Directors has committed to enhancing banks’ role in executing strategic initiatives to boost the financial sector and backing the nation's recovery and sustainable development plan.  

 

At its second meeting in 2023 led by Adnan Yousif, the Association's Chairman, the meeting reviewed the activities carried out by two key committees: the Risk and Credit Management Committee and the Retail and Investment Banking Committee. Subsequently, the Chairman presented the outcomes of his meeting with the Minister of Justice, Islamic Affairs and Waqf, as well as the Governor of the Central Bank of Bahrain.

 

Yousif highlighted upcoming events and activities organised by the Association, along with its initiatives to strengthen Bahrain's position in banking and finance. He underscored the significance of fostering cooperation between government agencies and financial institutions as a crucial element in accomplishing the Association's strategic objectives. Furthermore, he affirmed the Association's unwavering dedication to pursuing these goals and enhancing banking services in alignment with the development strategy of the financial services sector.

 

Fostering partnerships

Dr Waheed Al Qassim, CEO of BAB, reiterated the executive body's commitment to operating within the framework outlined by the Board of Directors' strategy. 

 

He emphasised the Association's determination to launch various initiatives fostering partnerships among Bahraini banks. These initiatives aim to establish a common platform, promote best practices and international standards in banking services, and facilitate the exchange of experiences and knowledge with both local and international partners.

 

Dr Al Qassim further noted that the Association conducted a series of meetings with relevant ministers responsible for economic projects. The objective of these meetings was to discuss the activation and expansion of banks' role in financing such projects. These efforts by the association aim to strengthen cooperation between government agencies and financial institutions in Bahrain while expediting the country's economic and investment development endeavours.--TradeArabia News Service