Hassan Jarrar, the Chief Executive Officer (CEO) of Bahrain Islamic Bank (BisB), recently joined in a Virtual Panel discussion, in a forum organized by Saudi Central Bank entitled ‘Islamic Finance – Growth Through Innovation’ which was held on Sunday 26th September 2021. During the session, the CEO of BisB confirmed that in the midst of the lasting consequences of the ongoing pandemic which banks across the Kingdom of Bahrain have been facing, BisB was effectively able to navigate through it, emerging on top of the list of digital achievements and milestones at a local level, wherein most of BisB’s banking transactions have been digitized, operations have been streamlined and automated, shifting from the traditional banking experience to one that is transformative and innovative.
The CEO also revealed that BisB effectively encouraged its customers to utilize the Bank’s diverse selection of digital financial services and solutions, in the likes of the Bank’s mobile application, which enables customers to conduct their banking transactions from the comfort and safety of their homes, and in record time, which resulted in a surge in the number of new accounts. Hassan Jarrar also shed light on BisB’s key digital solutions launched in line with the Bank’s technology-driven strategy, which revolves around the provision of innovative financial services and products that provide a simplified, hassle-free, and transformative experience, with a focus on a growing segment of society, namely the millennial generation and beyond.
The CEO participated in the first panel discussion entitled ‘Strategies for a Post Pandemic World’ comprising of chief executives Omar Abdulrahman AlHussain, Executive Vice President Retail Banking at Bank Al Bilad and Arsalaan Ahmed, CEO of Al Rajhi Bank, Malaysia. The Panel was moderated by Mustafa Adil, Head of Islamic Finance Data and Analytics at Refinitiv.
Commenting on the occasion, Hassan Jarrar, CEO of BisB, stated, “These conferences are crucial as they provide us with a platform to exchange valuable knowledge and discuss trends, thereby ensuring the sustainable development of the Islamic banking sector on both a regional and global level. Our participation in these forums aligns with our strategic vision to drive growth and contribute to the development of the sector, which provides key innovative insights, in turn encouraging the enhancement of relevant solutions that simplify banking transactions for our post-pandemic customers.”
The participants discussed the most prominent mechanisms of industry leaders to address and adapt to the challenges posed by the pandemic, including the need to adopt the requisite mindset across the entire industry in order to drive digital transformation and take the existing banking experience into the future. In addition, the panelists exchanges ideas on the future of the Islamic banking sector, in the likes of the importance of cooperation with FinTech companies, and the establishment of relevant regulations set by central banks, authorities and decision makers.