Bahrain Association of Banks Convenes Its Ordinary General Assembly Meeting
The Bahrain Association of Banks (BAB) convened its Ordinary General Assembly Meeting remotely via an online platform, with participation from representatives of various banking and financial institutions. The session addressed several key agenda items aimed at advancing the Association's strategic mission, reinforcing its pivotal role in supporting the Kingdom's banking industry, and sustaining the sector's ongoing growth and leadership. During the meeting, members unanimously approved the proposed agenda and the minutes of the previous assembly. Attendees reviewed the Board of Directors' 2024 report on the Association's activities and accomplishments. The external auditor's report for the year, submitted by Grant Thornton, was also presented and discussed. Furthermore, participants examined the Association's financial performance and ratified the audited financial statements for 2024, in addition to appointing the external auditor for the fiscal year 2025. In his address, Mr. Yaser Alsharifi, Chairman of BAB, provided a detailed overview of the Association's principal initiatives and projects undertaken in 2024, and highlighted BAB's contributions to Bahrain's economic and social development, including programs and campaigns cantered on corporate social responsibility and sustainable development. The Association's efforts to promote awareness on topics relevant to the financial sector were also emphasised, particularly within the context of its role as a strategic partner in implementing the Financial Services Sector Development Strategy 2022–2026. Mr. Alsharifi also outlined the Association's forward-looking plans for 2025, affirming its commitment to pursuing initiatives that align with the evolving landscape of the banking industry. BAB intends to intensify efforts in developing training and capacity-building programmes for Bahraini professionals, expand support for bank-led financing of SMEs, and further empower its specialised committees to foster an enabling environment for institutional growth. The Association also aims to deepen collaboration with financial institutions to bolster their involvement in national development projects. A major area of focus will be innovation and the acceleration of digital transformation in banking services, with the Association continuing to champion initiatives that drive technological advancement. Notably, in 2024, BAB held a special awards ceremony to recognise institutions that excelled in digital transformation, as part of the Association's 'Digital Transformation in the Banking Sector' awards programme. Commenting on the Association's progress, Dr. Waheed Al Qassim, Chief Executive Officer of BAB, expressed pride in the milestones achieved throughout 2024, and noted that these accomplishments significantly contributed to the advancement of Bahrain's banking industry and reinforced the sector's substantial role in national GDP growth. Dr. Al Qassim underscored the Association's ongoing collaboration with strategic partners to ensure the adoption of global best practices in banking and the provision of secure, seamless financial services.
Dr. Al Qassim further praised the resilience and operational strength demonstrated by Bahrain's banking sector over the past year. Despite global economic fluctuations, the sector continued to perform robustly, upholding compliance with regulatory and supervisory standards while maintaining strong capital adequacy, prudent provisioning, and financial flexibility.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Biz Bahrain
21 hours ago
- Biz Bahrain
Crypto Miners: Cryptocurrency Mining in Bahrain Reinforces Its Global Industry Leadership
Crypto Miners, a leading company specializing in the sale, installation, and maintenance of cryptocurrency mining equipment, stated that the growing momentum of mining operations—particularly Bitcoin and other digital currencies—within Bahrain is significantly enhancing the kingdom's status as a competitive regional hub and an influential player in the global cryptocurrency market. This progress is also contributing to the attraction of increased foreign direct investment into this promising sector. The company highlighted that Bahrain's progressive financial ecosystem and well-structured legislative framework, coupled with a rising societal awareness of digital economy concepts, form a solid foundation for companies to enter and thrive in the cryptocurrency domain. Crypto Miners pointed out that Bahrain's balanced regulatory environment, supported by advanced tech infrastructure, provides an ideal foundation for the sustainable growth of the cryptocurrency mining sector. These conditions enable Bahraini firms not only to flourish locally but also to export their expertise and services to international markets. Mr. Wassim Saaduddin, Technical Sales Manager at Crypto Miners, underscored the company's ongoing support for the development of the cryptocurrency mining sector in Bahrain, noting that this commitment stems from a strong belief in Bahrain's potential to emerge as a global centre for digital currency mining. Mr. Saaduddin said, 'Crypto Miners operates under a comprehensive vision focused on localizing this high-tech industry, establishing the required infrastructure, and facilitating the transfer of knowledge through the training of skilled national talent.' Mr. Saaduddin further added, 'As part of its corporate social responsibility, Crypto Miners is committed to enhancing public awareness of digital currencies across various segments of Bahraini society. We actively engage in educational initiatives and awareness campaigns, while also striving to provide safe and reliable investment opportunities in the sector. Through our strategic efforts, we aim to contribute to positioning Bahrain as a regional and global leader in cryptocurrencies and blockchain technologies—an objective that fully aligns with the Kingdom's Economic Vision 2030, which prioritizes innovation and digital transformation.'
Biz Bahrain
a day ago
- Biz Bahrain
INJAZ Bahrain hosts the 17th Annual Young Entrepreneurs Competition
INJAZ Bahrain proudly concluded its 17th annual Young Entrepreneurs Competition at Crowne Plaza Bahrain, marking a significant milestone in fostering entrepreneurial spirit and innovation among Bahraini youth. Under the patronage of Her Highness Sheikha Hessa bint Khalifa Al Khalifa, Chairperson of INJAZ Bahrain, the event showcased the remarkable talents of over 1,000 students from local high schools and universities. This year's competition carries added significance as INJAZ Bahrain celebrates its 20th anniversary—marking two decades of empowering young minds and nurturing the Kingdom's future business leaders. The event featured a diverse array of 20 student companies, with 10 each from high school and university and levels. The students participated in intensive assessments, team-building activities, and inspiration sessions over two days, culminating in a grand Awards Ceremony that recognized outstanding achievements across various categories. This year, the competition also introduced five signature awards to highlight exceptional achievements. These include the 'Excellence in ESG Award' by Bapco Energies, 'Best Booth and Brand Award' by BASREC, 'Rising CEO Award' by bni, 'Best Financial Performance Award' by CrediMax and 'Excellence in Technology Award' by NBB Distinguished individuals served as judges in both the High School Track and the University Track, including representatives from prominent organizations including Ms. Dana Alhaddad from 'Beyon'; Eng. Jassim Darwish from 'GPIC'; Mr. Nezar Habib from 'stc Bahrain' and Al Khaja from 'Investcorp Holdings' in the High School Track; Mr. Abdulaziz Tawfeeqi from 'Infracorp'; Mr. Ali Alaradi from 'BDB'; Mr. Amin Sultan from 'Alba'; and Ms. Marwa Aleskafi from 'Tamkeen' in the University Track. INJAZ Bahrain also hosted signature awards judges; Ms. Buthaina Amin from 'Bapco Energies'; Ms. Narjis Almoosawi from 'BASREC'; Ms. Nada Mohamed from 'CrediMax'; Mr. Amgad Abdelaal from 'NBB' and Ms. Rayan Al Mahmood, Mr. Ammar Al Raees and Mr. Abdulla Al Basteki from 'bni'. The 2025 award winners include: Sadaf from British School of Bahrain won 2025 Innovative Venture Award for the High School Track Netajna from Bahrain Institute of Banking and Finance won 2025 Innovative Venture Award for the University Track Nzr3 from Hidd Secondary Girls School won 2025 Global Impact Award for the High School Track Pitrolas from University of Bahrain won 2025 Global Impact Award for the University Track ReKlay from Naseem International School won 2025 Product of the Year for the High School Track Tabog from University of Bahrain won 2025 Product of the Year for the University Track Theemar from Beacon Private School won 2025 Company of the Year for the High School Track Ga6ra from American University of Bahrain won 2025 Company of the Year for the University Track Doobii from Al Falah Schools won Excellence in ESG Award (Presented by Bapco Energies) Sadaf from British School of Bahrain won Best Booth and Brand Award (Presented by BASREC) Tabog from University of Bahrain won Best Financial Performance Award (Presented by CrediMax) Ga6ra from American University of Bahrain won Excellence in Technology Award (Presented by NBB) Hood AlBuerki from Al Falah Schools won Rising CEO Award (Presented by bni) Two major announcements were made during the event: the official launch of the INJAZ Bahrain Company Program Series, a documentary series chronicling the journeys of participating students, and the closing ceremony of the second cycle of Entaliq by NBB, powered by INJAZ Bahrain, where student achievements and learnings were celebrated alongside NBB and INJAZ representatives. The event was generously supported by platinum sponsors Alba and Tamkeen, along with gold sponsor Beyon, and signature sponsors Bapco Energies, BASREC, bni, CrediMax, and NBB, underscoring the commitment of corporate Bahrain in nurturing young entrepreneurial talent. Commenting on the success of this year's competition, Her Highness Sheikha Hessa bint Khalifa Al Khalifa emphasized, 'INJAZ Bahrain remains dedicated to empowering our youth, providing them with platforms to unleash their creative potential and contribute to a thriving knowledge-based economy. As we celebrate 20 years of inspiring and equipping the next generation, we extend our heartfelt gratitude to our partners, sponsors, volunteers, educators, and staff whose unwavering support has been instrumental in achieving our mission and driving lasting impact across the Kingdom.' The winning teams of the '2025 Company of the Year' awards will represent Bahrain at the regional Young Entrepreneurs competition organized by INJAZ Al Arab in November 2025 that will be held in Egypt, showcasing their achievements on a broader stage.
Daily Tribune
a day ago
- Daily Tribune
Bahraini Parliamentary Delegation Concludes Landmark Visit to the United Kingdom
His Excellency Ahmed bin Salman Al-Musallam, Speaker of Bahrain's Parliament, concluded a successful official visit to the United Kingdom. The visit came at the invitation of the Right Honourable Sir Lindsay Hoyle, Speaker of the House of Commons, as part of a mutual drive to usher in a new era of parliamentary cooperation and shared progress between the two nations. The high-level delegation engaged in a series of strategic meetings and discussions focused on boosting parliamentary, political, and economic collaboration. Central to the visit was a pivotal dialogue between HE Al-Musallam and Sir Lindsay Hoyle, during which both parties agreed to embark on a renewed phase of bilateral parliamentary partnership. This includes the exchange of legislative expertise and the strengthening of institutional ties. HE Al-Musallam also extended a formal invitation to his British counterpart to visit the Kingdom of Bahrain in the near future, marking a potential milestone in legislative diplomacy. As part of Bahrain's broader vision for economic growth and international investment, the Speaker also held talks with Alderman Alastair King, Lord Mayor of the City of London. The meeting centered on enhancing financial cooperation and investment opportunities between Bahraini and British institutions, while also emphasizing the importance of evolving legislative frameworks that attract global capital and support sustainable economic growth. Furthering its commitment to parliamentary diplomacy, the delegation met with the UK Parliament's All-Party Parliamentary Group on Bahrain. Discussions explored regional and global developments, and both sides reaffirmed the importance of open dialogue in shaping stronger legislative cooperation. The meeting underscored the shared desire to build bridges between the two parliaments and contribute to a broader understanding of mutual interests. The visit also featured a reception hosted by Bahrain's Embassy in the UK, attended by Members of the House of Commons and House of Lords, as well as British officials. The gathering provided a platform to highlight Bahrain's role in promoting regional stability and development, while celebrating the strong bonds between both nations. HE Al-Musallam praised the efforts of His Excellency Sheikh Fawaz bin Mohammed Al Khalifa, Dean of the Arab Diplomatic Corps and Bahrain's Ambassador to the UK, for his instrumental role in strengthening Bahrain-UK relations. He reaffirmed Bahrain's commitment to advancing parliamentary dialogue with both Houses of the British Parliament to serve shared interests and support regional peace and sustainable development. The Bahraini parliamentary delegation included: MP Abdulnabi Salman Nasser, First Deputy Speaker MP Hassan Eid Bukhamas, Chairman of the Foreign Affairs, Defence and National Security Committee MP Hassan Ibrahim Hassan, Deputy Chair of the same committee MP Zainab Abdulameer Khalil MP Maryam Saleh Al-Dhaen MP Dr. Hesham Ahmed Al Ashiri Engineer Mohammed Ibrahim Al Sisi Al Buainain, Secretary-General of the Council of Representatives The visit marks a renewed commitment to stronger bilateral ties, laying the groundwork for future cooperation that reflects the enduring friendship between Bahrain and the United Kingdom — a partnership warmly supported by His Majesty King Hamad bin Isa Al Khalifa and His Majesty King Charles III.
