BAB celebrates International Day of Banks with ‘Digital Transformation’ Award!
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
To mark the International Day of Banks, the Bahrain Association of Banks (BAB) hosted an open gathering in the presence of Rasheed Al Maraj, the Governor of the Central Bank of Bahrain, alongside various leaders of Bahrain’s banking and financial sector.
BAB introduced the “Digital Transformation in the Banking Sector” award, designed for all banks and financial institutions.
The overarching goal is to expedite digital transformation processes in alignment with contemporary financial technology and contribute to the advancement of digital economic progress.
“We are delighted that the International Day of Banks serves as an opportunity to engage with leaders of financial and banking institutions.
It allows for discussions on visions and perspectives concerning the continued enhancement of the financial governance sector in the Kingdom of Bahrain, and encourages the adoption and localization of the best international experiences and practices within the banking industry.
This includes exploring growth opportunities and staying abreast of recent trends related to environmental, social, and governance practices, open banking, financial technology, and other pertinent areas” said Rasheed Al Maraj in speech during the event.
Al Maraj acknowledged the endeavours undertaken by the Bahrain Association of Banks as part of the Financial Services Sector Development Strategy 2022-2026.
He emphasized the significance of the “Digital Transformation in the Banking Sector” award, highlighting its role in motivating diverse financial and banking institutions to embrace innovation and digital transformation within the financial services sector of the Kingdom of Bahrain.
Adnan Yousif, the Chairman of the Bahrain Association of Banks, emphasized that International Day of Banks is a crucial annual milestone that serves as a moment to celebrate a banking journey marked by notable achievements, positioning the Kingdom among the foremost global banking and financial centers.
Today, the banking industry stands as the primary contributor to the GDP, accounting for 17%, and has become the leading employer for Bahrainis in the private sector, providing over 14,000 jobs.
Dr. Waheed Al Qassim, CEO of the Bahrain Association of Banks, stated that aspirations are moving towards deeper integration into digital banking services, aiming to align with customers’ way of living.
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