Manama: In the presence of His Excellency Mr. Abdul Aziz bin Saleh Al-Furaih, Chairman of the Steering Committee at the Saudi Ministry of Finance, the Bahrain Institute of Banking and Finance (BIBF) concluded a training workshop on Assets & Activity Risk Management, and Insurance Basics, in collaboration with the Saudi Ministry of Finance in Riyadh, Saudi Arabia, with the aim of raising awareness and enhancing risk management and insurance capabilities in government entities across the Kingdom of Saudi Arabia.

The workshop was attended by more than 60 participants representing more than 30 government entities in the Kingdom of Saudi Arabia. The workshop was presented by Ms. Manal Mashkoor, Head of Insurance Centre at the BIBF, and Mr. Kumail Maki, Senior Loss Adjuster.

This training programme comes as part of the implementation of the Saudi Cabinet’s decision on the appropriateness of insurance for high-risk government assets and activities, and the efforts of the Central Risk Rating Unit at the Saudi Ministry of Finance to achieve the main standards in risk management and insurance in government agencies.

The course covered the definition of risk, the classification of risks and their origin, the relevant insurance methods for managing assets and liabilities, the objectives of risk management, the characteristics of insurable risks, as well as identifying, analysing and controlling risks.

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