BIBF launches Sustainable Development Academy to build capacity in sustainable finance

Monday, May 24, 2021

Financial Institutions and their clients are increasingly being asked to take responsibility for the impact their investments and funding activities have on society. Today, the Bahrain Institute of Banking and Finance (BIBF) announced that it is partnering with Fitch Learning and The London Institute of Banking & Finance (LIBF), to launch its Sustainable Development Academy (SDA) to reskill and upskill banking and finance professionals. This initiative is seen as key to helping the Kingdom achieve its Sustainable Development Goals (SDGs) and realising Bahrain Economic Vision 2030.

The Sustainable Development Academy brings together the best and brightest changemakers and professionals within the industry to deliver a carefully identified suite of programmes that will equip participants with knowledge and competencies essential to undertake crucial work in the field of sustainable finance.

In addition, the Academy offers comprehensive Environmental, Social, and Governance (ESG) learning solutions, including digital certifications, live virtual workshops, and industry accreditations. Each step of the journey has been carefully designed to offer a dynamic blended-learning experience for participants including certification programs which will be delivered by Fitch Learning and are designed to meet the training requirements of various practitioners’ including Fundamental, Application and Professional level through CFA Institute Certificate in ESG Investing.

The SDA also includes a number of carefully selected programmes that cater to a different range of participants to upscale their knowledge, ranging from Board Level to practitioners as well as employees in non-business fronting units which will be delivered by The London Institute of Banking & Finance (LIBF).

On this occasion, BIBF Director, Dr. Ahmed Al Shaikh, stated, “We are delighted to partner with Fitch Learning and The London Institute of Banking & Finance – the world’s leading experts in sustainable development – to establish the Sustainable Development Academy. At the BIBF, we strive towards leading excellence in developing human capital, and as thought leaders in the industry, we continue to align ourselves with the global trends that will shape the future. The Kingdom of Bahrain is a successful example of such a notion, as it continues to ensure that national frameworks integrating sustainability and the SDGs capture government priorities. Several regulations have been put into motion to meet SDG targets relevant to Bahrain. As such, The Kingdom of Bahrain continues to establish a variety of agencies and committees to mould policies and strategies that will achieve the guiding principles of Bahrain Economic Vision.  It is only natural for the BIBF to step up and play its role in developing human capital in this field to complement these national initiatives.”

On her part, BIBF Head of Banking and Finance Centre, Ms. Zeeba Askar, CFA, commented, “We are now in a transformative world, that is challenged by a number of disruptions that will inevitably result in a structural shift in the way we live our lives and the way economies and businesses function.  Most investors now recognise that ESG factors have material impacts on business performance. Therefore, ESG integration in the business process, to complement, not substitute traditional fundamental analysis, is important to establish a more comprehensive understanding of the underlying business risks and returns. Many businesses now recognise the “why” of sustainable development, but don’t know the “how” to implement. This is the skill gap that inspired the formation of the BIBF’s Sustainable Development Academy to ensure reskilling and upskilling human capital.”

Chief Executive of The London Institute of Banking & Finance, Alex Fraser, said: “the launch of the Sustainable Development Academy will strengthen our long-standing relationship with BIBF. We are very pleased to support environmental and social objectives in sustainable finance through high quality educational programmes. Financial industry professionals will be able to put sustainability in the core of finance, an initiative led by the government of Bahrain as part of the 2030 Vision. In partnership with BIBF, we will deliver programmes that meet the growing need for the financial sector to adapt to sustainable development and environmental change.”

CEO of Fitch Learning, Mr. Andreas Karaiskos said, “We are pleased to establish this flagship Sustainable Development Academy in the Kingdom of Bahrain together with the BIBF to offer participants the opportunity to gain qualifications in this growing field within the financial services industry. Our expert teams have worked closely alongside BIBF’s stakeholders to create an optimal learning experience that match’s the institute’s ambitions and objectives.”