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BIBF receives delegation from Singapore’s Grow Digital Bank

January 17, 2023
banking

Manama, Jan. 16 (BNA): The Bahrain Institute of Banking and Finance (BIBF), a leading training and development provider in the region, has recently received a delegation from Singapore’s Grow Digital Bank at its headquarters in Bahrain Bay, with the aim of exploring areas of mutual cooperation in digital transformation, banking, and financial services.

During the visit, the delegation was briefed on the BIBF’s role in developing professional cadres in the banking and financial sector. They also learned about the academic degrees and training programmes the institute provides in business and technology, particularly in banking, finance, sustainable development, digital transformation, and financial technology.

Director of the BIBF, Dr. Ahmed Abdulhameed Al Shaikh, welcomed the delegation, and expressed his pleasure to receive the Singaporean Grow Digital Bank, as this opens the door for further collaboration between the two nations. He also mentioned that the two parties will exchange top-notch financial technology experiences, which will lead to strengthening the Kingdom’s leading position as a leading centre for digital transformation in the banking industry and contribute to the realisation of Bahrain’s Economic Vision 2030.

Furthermore, Dr. Al Shaikh stated collaborating and exchanging experiences with leading global financial technology institutions comes in line with the Kingdom's initiatives to promote innovation in the financial sector and solidify its prime position as a financial hub, in addition to contributing to expanding opportunities for financial institutions and FinTech firms in Bahrain and Singapore.

The Singaporean delegation, on the other hand, thanked the BIBF for the warm welcome, and praised its efforts in developing qualified cadres in financial technology. They also lauded the Kingdom of Bahrain's excellent investment and technological environment, that attracts the greatest financial and technological firms globally.

It is noteworthy that the financial technology sector is undergoing many changes that are creating more job opportunities in the local and regional markets. The Kingdom of Bahrain also established several initiatives to achieve the best growth rates in a wide range of economic sectors, particularly financial technology, through encouraging laws, a robust infrastructure, and highly skilled national cadres.

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