"KHCB" supports "BIBF's" new building at "Bahrain Bay"

Manama: Khaleeji Commercial Bank (KHCB), one of the leading Islamic banks in the Kingdom of Bahrain, has recently announced its support of the Bahrain Institute of Banking and Finance’s (BIBF) new Building at Bahrain Bay, which is anticipated to be completed by the end of 2021. The Bank's support includes sponsoring the building’s sixth floor, which consists of lecture halls and many other service facilities.

BIBF's new building is among the key development projects in the Kingdom, as it forms a turning point in providing the appropriate infrastructure for training and development within the process of evolving the Financial Services sector and the national economy of Bahrain.

On this occasion, KHCB CEO Mr. Sattam Sulaiman Algosaibi commented: "This partnership with BIBF reflects our solid belief in the importance of supporting the Institute, which continued throughout 40 years of success and distinction in training and graduating financial and banking cadres, who have contributed to the development of this sector for all these years. This new building, equipped with all its facilities and advanced capabilities, aims to continue this journey, in which we are happy today to have a major role in its development. We are looking forward to the building’s grand opening by the end of 2021 and to witness the training and development services that will be provided through the halls and facilities that are sponsored by KHCB."

The CEO added: "The banking sector is considered among the most important non-oil sectors in the Kingdom of Bahrain. This is because it contributes more than 17% to the GDP and is also considered one of the main sectors offering employment opportunities for Bahraini cadres. Therefore, it is necessary to contribute to supporting BIBF’s efforts so that this prestigious educational institution continues to implement and achieve its goals, the most important of which is providing the best training and development programs for our national cadres, which are the pillar of this sector's development and prosperity, a sector that has become one of the main drives for creating a comprehensive and sustainable development that led to the Kingdom reaching advanced positions on economic diversification indicators."

Mr. Algosaibi further stated: "The floor which is sponsored by the Bank encompasses four lecture halls and many other service facilities, enabling it to embrace a large number of students at all times. We take pride in this sponsorship, as it comes in line with our vision to maintain a key role as partners in the development process of the Kingdom’s banking sector.”

For his part, BIBF Director Dr. Ahmed Al Shaikh said: "We are pleased to cooperate with institutions like KHCB, who recognise the importance of training and development in advancing the Kingdom's growth. The new building project embodies an important stage for providing specialised training to develop the necessary skills and specialised sciences that serve different sectors in the labour market, contributing to strengthening our national economy."

Dr. Al Shaikh further added that this partnership goes beyond traditional sponsorships to a deeper level than a comprehensive partnership, in order to provide human resources with the skills and specialisations necessary to support the comprehensive development process.

It is worth noting that the project to build BIBF's new headquarters was launched at the beginning of last year with a budget of BD 12 million, a total area of 25,000 square metres, and a distinct waterfront. The new Building aims to accommodate a larger number of students in the future, with plans that include providing the Institute with the latest technologies in the field of education that will ensure the highest levels of operational efficiency and innovation, as well as providing the best services for trainees.

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© Press Release 2021