Manama –  HE Mr. Khalid Humaidan, Governor of the Central Bank of Bahrain (CBB), received the new Board of Directors of the Bahrain Association of Banks (BAB) during a meeting held at the CBB headquarters on Thursday, November 28, 2024.

HE the Governor began the meeting by extending a warm welcome to the new members of the Association's Board and expressed sincere gratitude to the Association for its support and assistance to the banking sector. Moreover, HE acknowledged the invaluable contributions of BAB’s Board, executive cadre, and multidisciplinary committees in advancing the sector and strengthening the role of Bahraini banks.

HE the Governor also emphasized the importance of maintaining a unified approach within the banking sector to create an ecosystem that fosters modern banking services and fintech solutions and to improve the conditions surrounding the financing of SMEs in line with the priorities of the CBB for the coming period.

The meeting included discussions on key agenda items, such as the latest regional and global financial developments and their implications for Bahrain's banking sector. Topics also covered regulatory updates aimed at enhancing the sector’s quality, efficiency, and competitiveness, as well as progress on the implementation of the Financial Services Sector Development Strategy 2022–2026.

Mr. Yaser Alsharifi, Chairman of the Bahrain Association of Banks, conveyed appreciation to the CBB for facilitating the meeting and fostering productive discussions on key issues in the financial and banking sector. The critical role of the CBB in driving industry growth and aligning with economic and technological advancements was highlighted, reaffirming Bahrain's position as a leader in delivering world-class banking services.

Mr. Alsharifi further noted that the association’s new direction aligns with the CBB’s vision of elevating the financial and banking sectors, and highlighted BAB’s focus on empowering financial institutions to innovate, increasing their contributions to the Financial Services Development Strategy, and enhancing the skills of Bahraini professionals through targeted training programs. These efforts aim to equip the workforce with the necessary tools and expertise to keep up with advancements in the sector.