The Bahrain Association of Banks (BAB) put the country’s financial services industry in the spotlight when it hosted an annual reception for Bahraini banks during the Annual Meetings of the International Monetary Fund and the World Bank in Washington, D.C.

Global financial and banking sector leaders, attending the event, were briefed on recent developments in Bahrain's financial services industry, as they explored opportunities for partnerships, cooperation, and investment within the kingdom.

Participants included central bank governors, ministers of finance and development, senior private sector officials, academics, sovereign wealth fund managers, asset managers, hedge fund managers, insurance executives, and representatives from multinational corporations.

The event was attended by Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, and Khalid Ebrahim Humaidan, Governor of the Central Bank of Bahrain. Representatives from various Bahraini banks were also present.

The reception was sponsored by BBK, NBB, Bank ABC, Ahli United Bank, and Gulf International Bank.

Yaser Alsharifi, Chairman of the Board of Directors of BAB, emphasised the association's dedication to advancing the financial and banking sector, and highlighted BAB's commitment to promoting Bahrain's investment advantages, aligning with the government's strategy to attract increased regional and global investments.

Uthman Ahmed, Group Chief Executive Officer of the National Bank of Bahrain (NBB), expressed the Bank’s pride in supporting BAB’s distinguished reception, held as part of a globally significant event, and highlighted Bahrain’s role as an international financial and banking hub, noting its leadership in pioneering banking innovations and reinforcing its position as a premier financial centre on both regional and global stages.

BBK similarly emphasised the critical role BAB plays in promoting Bahrain’s highly regarded banking sector.

The bank reaffirmed its commitment to utilizing international platforms to elevate Bahrain’s financial standing, showcasing its advanced financial infrastructure, innovative banking solutions, and investment-friendly policies that continue to drive the sector’s success and attract global interest.

Ahmed AlKharji, Group CEO of Ahli United Bank, noted the strong turnout of leading banking authorities from Bahrain and around the world.

Such gatherings play a vital role in showcasing Bahrain’s financial services sector and its contribution to strengthening the nation’s economic standing, he said.

AlKharji also stated that the event highlighted the importance of promoting economic diversification, attracting investment, and unlocking new opportunities for Bahrain’s economy.

Sael Al Waary, Group Chief Executive Officer of Bank ABC, commended the Bahrain Association of Banks for organizing the reception during this prominent international event, and acknowledged the Association's continuous initiatives that support the national economy.

Furthermore, he emphasised Bank ABC's commitment to efforts that introduce global investors to Bahrain's exceptional financial and investment ecosystem, as well as its advanced regulatory environment.

Sara Abdulhadi, Chief Executive Officer of Gulf International Bank (GIB) in the Kingdom of Bahrain, said that the bank's support for this event aligns with its dedication to assisting BAB in achieving its objectives.

She noted Bahrain's advanced position in global financial services and the banking sector's role in serving the economy, society, and national prosperity.

Abdulhadi noted that such events motivate international investors to consider Bahrain as a favourable destination for their investments, thereby advancing various economic and developmental activities within the kingdom. – TradeArabia News Service