Bahrain Association of Banks holds Ordinary General Assembly

TDT | Manama

Email: mail@newsofbahrain.com

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.

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.