Latest news with #BahrainAssociationofBanks
Daily Tribune
20-05-2025
- Business
- Daily Tribune
Dr. Al Qassim Affirms Strategic Role of Bahrain Bankers Union in Empowering National Talent
Dr. Waheed Al Qassim, Chief Executive Officer of the Bahrain Association of Banks (BAB), underscored the vital role of the Bahrain Bankers Trade Union in protecting the interests of Bahraini professionals in the banking and financial sector. The statement called for expanding this role through practical, future-oriented solutions that create a supportive environment for career development, innovation, and professional growth—an environment that encourages creativity, improves job satisfaction, and reduces employee turnover across the industry. These remarks were made during a meeting between Dr. Al Qassim and Mr. Haitham Rashdan, President of the Bahrain Bankers Trade Union, where they discussed the shifting dynamics of the banking landscape amid accelerating technological advancements.
Biz Bahrain
20-05-2025
- Business
- Biz Bahrain
Dr. Al Qassim Affirms Strategic Role of Bahrain Bankers Union in Empowering National Talent
Dr. Waheed Al Qassim, Chief Executive Officer of the Bahrain Association of Banks (BAB), underscored the vital role of the Bahrain Bankers Trade Union in protecting the interests of Bahraini professionals in the banking and financial sector. The statement called for expanding this role through practical, future-oriented solutions that create a supportive environment for career development, innovation, and professional growth—an environment that encourages creativity, improves job satisfaction, and reduces employee turnover across the industry. These remarks were made during a meeting between Dr. Al Qassim and Mr. Haitham Rashdan, President of the Bahrain Bankers Trade Union, where they discussed the shifting dynamics of the banking landscape amid accelerating technological advancements. Dr. Al Qassim said, 'The banking sector is undergoing profound transformations, with several conventional roles gradually being phased out and replaced by emerging functions that demand proficiency in digital analysis, artificial intelligence, data science, and other advanced disciplines. In light of these developments, we call for intensified efforts to upskill and reskill the existing workforce to ensure they remain relevant and adaptable, thereby minimising the risk of job displacement due to technological disruption.' Dr. Al Qassim also addressed the ongoing wave of mergers among banking and financial institutions, which often result in the consolidation of departments and functions. Such structural changes inevitably lead to workforce reductions affecting both Bahraini and expatriate employees. He urged all stakeholders to approach these changes with strategic foresight and adaptability, calling for a collaborative framework between the Bahrain Association of Banks, the Bahrain Bankers Trade Union, and financial institutions to formulate effective strategies for managing this transition responsibly. The CEO of BAB further stressed the importance of adopting integrated solutions that involve all key players, including the Labour Fund (Tamkeen), which plays a pivotal role in empowering Bahraini talent and positioning them as preferred candidates in the job market. Dr. Al Qassim advocated for policies that enhance the competitiveness of Bahraini professionals by offering targeted training, institutional support, and employment incentives, while also encouraging private sector entities to invest in local human capital, amd noted that higher education institutions must be part of this ecosystem to ensure their academic output aligns with the rapidly evolving needs of the financial industry. As a proactive step, Dr. Waheed Al Qassim proposed launching a specialised programme in collaboration with Tamkeen to support employees impacted by restructuring or job loss. The initiative aims to help these individuals invest their experience and savings in establishing SMEs, with financial and technical support from Tamkeen. This approach encourages meaningful contributions to the national economy—whether through personal expertise or family talents—while creating value across key sectors, including banking and finance. Dr. Al Qassim reiterated the importance of sustained investment in training and development programmes for graduates and young professionals in financial and banking disciplines, and advocated for the integration of emerging Bahraini talent into dynamic training ecosystems that reflect international best practices, ensuring that the local workforce remains competitive, agile, and aligned with the strategic objectives of Bahrain's financial sector.
Biz Bahrain
07-05-2025
- Business
- Biz Bahrain
BAB and Gulf University Sign Strategic MoU to Align Academic Programmes with Financial Sector Needs
In a move aimed at enhancing the integration between academia and the financial industry, the Bahrain Association of Banks (BAB) has signed a strategic Memorandum of Understanding (MoU) with Gulf University. The agreement sets the foundation for long-term collaboration in academic curriculum development, professional training, and applied research in the banking and financial sector. This partnership is tailored to foster academic excellence and prepare graduates to meet the evolving demands of the banking industry. Under the terms of the MoU, the two institutions will work together to host mentoring programmes, research projects, and academic events. These initiatives will bring students into direct contact with banking professionals, while also contributing to the continuous evolution of academic content in line with industry needs. The collaboration includes joint efforts to organise and promote conferences, seminars, and specialised forums, ensuring that both parties contribute to a shared vision of sectoral advancement. Furthermore, Gulf University's curricula will be reviewed and updated in consultation with BAB to reflect contemporary trends and address real-world challenges in the financial and banking landscape. Commenting on the MoU, Dr. Waheed Al Qassim, Chief Executive Officer of the Bahrain Association of Banks, stated that the agreement aligns with Bahrain's national sustainable development goals and the Central Bank of Bahrain's strategy to develop the financial services sector. Furthermore, Dr. Al Qassim noted that the banking sector leads in the employment of Bahraini nationals and highlighted BAB's ongoing initiatives to bridge the gap between higher education and the labour market by promoting best practices and fostering excellence among emerging professionals. Dr. Al Qassim underscored the importance of aligning academic programmes with the dynamic requirements of the banking industry, enhancing research capabilities, and offering Gulf University students experiential exposure to real banking environments. 'We firmly believe that sustainable development in the financial sector begins with the cultivation of a skilled and knowledgeable national workforce that can adapt to global advancements and contribute meaningfully to the sector's growth,' Dr. Al Qassim added. Prof. Dr. Mohanad Al Firas, President of Gulf University, stated, 'This agreement is more than a formal partnership; it is a strategic investment in the future of our students and a bridge between academic learning and professional application. It reflects our commitment to forming robust institutional ties with the private sector and ensuring our academic outputs support the needs of Bahrain's knowledge-based economy.'
Trade Arabia
05-05-2025
- Business
- Trade Arabia
BAB, Gulf University sign MoU on curriculum development
Bahrain Association of Banks (BAB) has signed a strategic memorandum of understanding (MoU) with Gulf University to enhance the integration between academia and the financial industry. The agreement sets the foundation for long-term collaboration in academic curriculum development, professional training, and applied research in the banking and financial sector. This partnership is tailored to foster academic excellence and prepare graduates to meet the evolving demands of the banking industry. Under the terms of the MoU, the two institutions will work together to host mentoring programmes, research projects, and academic events. These initiatives will bring students into direct contact with banking professionals, while also contributing to the continuous evolution of academic content in line with industry needs. The collaboration includes joint efforts to organise and promote conferences, seminars, and specialised forums, ensuring that both parties contribute to a shared vision of sectoral advancement. Furthermore, Gulf University's curricula will be reviewed and updated in consultation with BAB to reflect contemporary trends and address real-world challenges in the financial and banking landscape. Commenting on the MoU, Dr Waheed Al Qassim, Chief Executive Officer of the Bahrain Association of Banks, stated that the agreement aligns with Bahrain's national sustainable development goals and the Central Bank of Bahrain's strategy to develop the financial services sector. Furthermore, Dr Al Qassim noted that the banking sector leads in the employment of Bahraini nationals and highlighted BAB's ongoing initiatives to bridge the gap between higher education and the labour market by promoting best practices and fostering excellence among emerging professionals. Dr Al Qassim underscored the importance of aligning academic programmes with the dynamic requirements of the banking industry, enhancing research capabilities, and offering Gulf University students experiential exposure to real banking environments. 'We firmly believe that sustainable development in the financial sector begins with the cultivation of a skilled and knowledgeable national workforce that can adapt to global advancements and contribute meaningfully to the sector's growth,' Dr Al Qassim added.
Biz Bahrain
08-04-2025
- Business
- Biz Bahrain
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.
