Yaser Alsharifi, newly elected chairman of the Bahrain Association of Banks (BAB), has outlined the association’s strategic direction, emphasising its commitment to supporting the kingdom’s economic growth and development.
Mr Alsharifi highlighted the association’s dedication to working in alignment with government and Central Bank of Bahrain strategies, fostering the banking industry’s contribution to the national GDP through initiatives that encourage investment in entrepreneurship, cultivate national human capital, drive job creation, and accelerate digital transformation.
BAB will also actively promote the banking industry’s role in financing critical development projects, SMEs, and clean energy initiatives, while ensuring the continued solvency and financial sustainability of its member institutions.
“We are fully confident in the strength of the banking industry, its growing performance, the soundness of its financial conditions, and its significant role in the national economy,” said Mr Alsharifi. “This is a direct result of the guidance provided by the wise leadership and the Central Bank of Bahrain.”
Mr Alsharifi expressed his enthusiasm for collaborating with the newly elected board of directors at BAB, acknowledging the diverse expertise they bring, and commended the Central Bank of Bahrain’s directive to include representatives from systemically significant financial institutions on the board.
Recognising the contributions of the previous board, Mr Alsharifi pledged to continue building on their achievements and lead the association to even greater success in the future.
Looking ahead, Mr Alsharifi emphasised the association’s commitment to bridging the banking sector’s skills gap by strengthening its collaboration with universities and research institutions. BAB will also continue to organise national awareness campaigns to educate the public about banking fraud practices and strive to play a pivotal role in unifying the efforts of banking and financial institutions to stimulate commercial activity, boost national income, and drive economic growth in the kingdom.
Mr Alsharifi concluded: “We fully support the national initiatives that have elevated Bahrain to be one of the world’s prominent financial centres, contributing significantly to sustainable development and economic diversification.”
avinash@gdnmedia.bh
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