The Bahrain Association of Banks’ Board of Directors convened its second meeting in 2023, led by Mr. Adnan Yousif, the Association’s Chairman. During the meeting, the agenda items were examined, starting with an overview of 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.
The meeting also addressed the progress of the association’s strategic objectives, aligning them with the government’s financial services sector development strategy and the recovery and sustainable development program. In this context, the board assessed the measures implemented to strengthen banks’ involvement in financing the kingdom’s strategic projects.
Mr. Adnan emphasized during the meeting the Board’s strong commitment to bolstering the involvement of banks in executing strategic initiatives aimed at advancing the financial services sector and the recovery and sustainable development plan. He also highlighted upcoming events and activities organized by the Association, along with its initiatives to strengthen Bahrain’s position in banking and finance. Mr. Adnan 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.
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 emphasized 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 endeavors.