Latest news with #KhalidHumaidan
Biz Bahrain
21-07-2025
- Business
- Biz Bahrain
Citi Bahrain Expands its Global Technology Hub in Manama
Citibank, N.A., Bahrain Branch (Citi Bahrain) announced the expansion of its Global Technology Hub in Manama, adding a new state-of-the-art floor to its facilities. This pivotal milestone aligns with Citi's tactical plans to hire a new wave of talent; the hub has already onboarded a substantial number of programmers and coders, in line with the target to allocate 1,000 coding jobs over a ten-year period for the Bahrain hub. Marking the first in the region, the hub was established in 2021 in a strategic partnership with the Bahrain Economic Development Board (Bahrain EDB), the Central Bank of Bahrain (CBB), and the Labour Fund (Tamkeen). The expansion is expected to enhance Citi's digital capabilities both regionally and globally in areas such as Electronic Trading, E-Commerce, Big Data and AI, cementing the island nation's growing reputation as a thriving technology and financial hub. Citi Bahrain's tech hub currently develops digital solutions that serve Citi's global portfolio of business lines and clients. H.E. Noor bint Ali Alkhulaif, Minister of Sustainable Development, Chief Executive of Bahrain EDB; H.E. Khalid Humaidan, Governor of the Central Bank of Bahrain; Michel Sawaya, CEO of Citi Bahrain; Nikhil Joshi, CIO Markets at Citi, and Kassey Oulhadj, Head of Citi Bahrain Global Technology, attended the inauguration of its expanded premises. H.E. Noor bint Ali Alkhulaif, Minister of Sustainable Development, Chief Executive of Bahrain EDB, said, 'Citi's continued expansion in Bahrain, year after year, reflects the growing impact of its Global Technology Hub in Manama, which plays a key role in delivering digital solutions that support Citi's global client base. Its progress is a testament to the strength of Bahrain's wider financial services and tech ecosystem, defined by the availability of highly skilled local talent, the agility of the regulatory environment, and the effectiveness of public-private partnerships in enabling high-quality job creation and future-proofed skills development. We look forward to building on this momentum together with Citi, alongside Tamkeen and the CBB, in the years ahead.' From her side, Ms. Maha Abdulhameed Mofeez, Tamkeen Chief Executive said: 'At Tamkeen, we prioritize investing in developing and empowering our national workforce and in line with this we actively seek strategic partnerships – both local and international – that support our core objectives by building a pool of qualified national talent capable of contributing to the growth, sustainability and productivity of the organizations they serve.' 'Our collaboration with 'Citi' is built on this foundation as it supports innovation, digital transformation and international growth while preparing the labor market with tech-savvy talent ready to lead and make a real impact in their fields,' added Ms. Mofeez. Tamkeen's strategic priorities for 2025 focus on enhancing the competitiveness of Bahraini nationals in the private sector, equipping them with the skills needed for career development, as well as prioritizing the growth, digitalisation, and sustainability of enterprises. Michel Sawaya, Citi Bahrain CEO, 'I'm proud of the momentum gained by the tech hub since the establishment in 2021. Expanding our offices with an additional floor is a strategic step that exemplifies the notable progress we have achieved against our hiring targets.' Nikhil Joshi, Citi CIO Markets, added 'We see tremendous opportunity to further elevate our digital service development capabilities in Bahrain, as we continue to deliver a wide range of financial solutions to our global clients, such as Electronic Trading, E-Commerce, Big Data and AI.' Citi chose Bahrain as a destination for its tech hub owing to the depth and diversity of the island nation's talent pool, which is further backed by forward-looking regulatory frameworks reinforced by agile government support.
Biz Bahrain
06-07-2025
- Business
- Biz Bahrain
CBB Announces Strategic Partnership with ARRAY Innovation to Advance Digital Transformation Agenda
The Central Bank of Bahrain (CBB) has entered a strategic partnership with ARRAY Innovation, a local portfolio company of Bahrain Mumtalakat Holding Company, to accelerate its digital transformation initiatives. The partnership agreement was signed in the presence of HE Khalid Humaidan, Governor of the Central Bank of Bahrain, and HE Shaikh Abdulla bin Khalifa Al Khalifa, Chief Executive Officer of Mumtalakat, on the sidelines of the FS Horizons: Doubling Down on Digital event, hosted in collaboration with the Bahrain Economic Development Board. As part of the agreement, ARRAY Innovation will provide strategic advisory and professional services to the CBB to develop and execute key technology initiatives, drawing on its global expertise in payments technology, artificial intelligence (AI), and cloud-based solutions. Commenting on the partnership, Mr. Mohamed Abdulla Abdulkarim, Executive Director of Corporate Services at the CBB, said, 'We are pleased to work with a partner whose expertise and technology solution development capabilities align with CBB's vision for regulatory innovation and growth, and our ongoing efforts in deploying and developing a robust digital ecosystem. With this public-private partnership, our aim is to enhance CBB's institutional capacity, strengthen our technology infrastructure, and further solidify Bahrain's standing as a regional financial hub.' For his part, Mr. Alaa Saeed, Chief Executive Officer and Founder of ARRAY Innovation, remarked, 'We are honored to support the CBB on this strategic journey. Our team will work closely with the Bank to introduce solutions that drive impact and advance the Kingdom's broader ambitions for digital enablement and economic diversification. This partnership also underscores our dedication towards nurturing local tech talent in Bahrain and contributing to the growth of its innovation economy.'
Zawya
04-07-2025
- Business
- Zawya
Bahrain sees Robust Pipeline of Financial Institutions: 16 new financial institutions licensed, 52 in progress
Manama, Bahrain: The Central Bank of Bahrain (CBB) has reported a significant increase in financial institution licensing, with 16 new financial firms approved and 52 additional applications underway from early 2024 through mid-2025. This surge highlights Bahrain's growing appeal as a destination for digital-first financial services, with nearly 75% of the 68 applications coming from international applicants. The influx is expected to create over 850 jobs initially, with more opportunities anticipated as newly licensed firms scale their operations. The license applications span a diverse range of categories, including wholesale banks, payments, investment services, insurance, and crypto-asset services. This diverse portfolio reasserts Bahrain as a hub for financial innovation and solidifies its reputation as a competitive launchpad for regional and international firms. Notably, 16 applicants have been licensed during this period, including two wholesale banks, with additional bank license applications currently in the pipeline. The CBB continues to work closely with the remaining applicants to support them in meeting the licensing requirements. Commenting on this, H.E. Khalid Humaidan, Governor of the Central Bank of Bahrain said, "This increase in licensing applications reflects the CBB's dual mandate of ensuring stability while fostering growth, and underscores the strength of our regulatory framework and the Kingdom's unique ability to attract innovation without compromising financial stability. This achievement is the result of close collaboration with our partners across government and industry, and reaffirms Bahrain's role as a gateway for regional and global growth in financial services." Central to this success is the CBB's unified regulatory model, which provides licensees with a single point of contact across all financial sub-sectors. This model eliminates conflicting requirements from multiple authorities, streamlines compliance, and offers consistent oversight. The announcement was made during the FS Horizons: Doubling Down on Digital event, hosted in partnership with the Bahrain Economic Development Board, where industry leaders gathered to highlight Bahrain's advancements in digital banking, payments infrastructure, and talent development.
Biz Bahrain
04-07-2025
- Business
- Biz Bahrain
16 new financial institutions licensed and 52 in progress
The Central Bank of Bahrain announced a strong wave of financial institution licences from early 2024 to mid-2025, with 16 new institutions approved and 52 licence applications under advanced review. This steady growth highlights Bahrain's appeal as a leading destination for digital financial services, with international applications making up about 75% of the 68 total. These institutions are expected to create over 850 jobs initially, with more opportunities as they expand. The new licences include two wholesale banks, and more banking applications are under review. The Central Bank continues to work closely with applicants to help them meet licensing requirements. Khalid Humaidan, Governor of the Central Bank of Bahrain, said: 'This rise in licensing applications reflects the Central Bank's institutional role and the effectiveness of Bahrain's regulatory framework, which balances attracting innovation with ensuring financial stability. This achievement was made possible by close cooperation with our partners in the public and private sectors, confirming the integrated national efforts to expand regional and global growth in financial services.' This success is based on the Central Bank's unified regulatory model, which gives licensed institutions a single point of contact across financial services. This model helps reduce conflicting requirements, streamlines compliance, and provides consistent and effective oversight. The announcement was made during the 'Financial Services Horizons' forum, organised in partnership with the Bahrain Economic Development Board, where sector leaders discussed progress in digital banking, payments infrastructure, and developing national talent for digital transformation. BNA(R)
Zawya
30-06-2025
- Business
- Zawya
CBB delegation visits Amazon Web Services in London
Manama, Bahrain – A delegation of officials from the Central Bank of Bahrain (CBB), led by H.E. the Governor Khalid Humaidan, visited Amazon Web Services (AWS) at its headquarters in London, United Kingdom. The delegation, which included Mr. Mohamed Abdulkarim, Executive Director – Corporate Services, Mr. Mohamed Al Sadek, Executive Director – Market Development and Mrs. Noora Abdulghani, Executive Director – Supervision, was welcomed by Ms. Tanuja Randery, Managing Director of AWS for Europe, the Middle East, and Africa (EMEA). As part of the visit, the delegation participated in an executive briefing session that featured a series of presentations on various topics. These included emerging innovations contributing to the financial sector's digital transformation, the role of advanced technologies in strengthening the supervisory and regulatory capabilities of central banks, and the strategic value of data analytics in unlocking business opportunities in financial services. Commenting on the visit, H.E. Khalid Humaidan, Governor of the Central Bank of Bahrain, stated: 'It was a pleasure to visit Amazon Web Services, a global leader in cloud solutions and data analytics. This engagement marks a crucial step in strengthening collaboration and exchanging knowledge and reflects our ongoing commitment to innovation and enhancing the financial services sector in Bahrain. It also underscores our determination to remain adaptive in a rapidly evolving financial services landscape, reinforcing our growth and stability mandate across the sector.'
