Archive for category: News

Dr. Haifaa Khalaf

BIBF Head of Academic Studies: Admissions Open for Bachelor’s and Master’s Programmes

7 February – 2024

Manama: The Head of Academic Centre at the Bahrain Institute of Banking and Finance (BIBF), Dr. Haifaa Khalaf, announced that the institute is currently accepting online applications for its bachelor’s and master’s programmes for the upcoming academic year.

The majors offered include the International Foundation Programme (IFP), bachelor’s programmes in Banking & Finance, Accounting & Finance, Banking & Finance with Diploma in Islamic Finance from Bangor University, and bachelor’s programmes in Economics & Management and Data Science & Business Analytics from the University of London.

The Head of Academic Centre highlighted that a 10% fee waiver for the International Foundation Programme will be offered to high school graduates with a cumulative average of 90% or above. Additionally, new and current students in the B.Sc. Economics & Management from the University of London will receive a 50% exemption throughout their studies. Scholarships will also be provided to 25 top achievers to enroll in the B.Sc. Data Science and Business Analytics by the University of London.

The BIBF also offers postgraduate programmes, such as Master of Business Administration (MBA), Master’s in Human Resources (MSHR), and Master’s in Finance (MSF) from DePaul University in Chicago, as well as Executive MBA and Master’s in FinTech programmes awarded by Strathclyde Business School.

“All academic programmes offered at BIBF are fully recognised by the Higher Education Council of Bahrain and lead to qualifications from highly ranked British and American universities,” said Dr. Haifaa. “By studying locally in Bahrain, students can obtain an internationally recognised degree.”

For over two decades, the BIBF has collaborated with world-class universities to offer exceptional academic programmes in Bahrain, taking great pride in producing graduates that occupy leadership positions in the labour market today.

Dr. Haifaa Khalaf encouraged interested students to visit the BIBF website for more information and follow their social media channels for the latest updates.

Islamic Finance Advisory Committee

The BIBF Holds Inaugural Meeting of Islamic Finance Advisory Committee

Manama, Bahrain – 4 February 2024

The Bahrain Institute of Banking and Finance (BIBF) successfully held the inaugural meeting of its reconstituted Islamic Finance Advisory Committee (IFAC) at the institute Headquarters.

The meeting addressed critical agendas, including the appointment of the Chairman and Deputy Chairman, approval of the IFAC Charter, and a comprehensive review of the BIBF Islamic Finance Centre’s plan for 2024.

The distinguished members of the IFAC, representing a wealth of experience in the Islamic banking and finance sector across diverse countries in the region, include:

  • Mr. Adnan Ahmed Yousif – Bahrain Association of Banks (BAB)
  • Ms. Amal Saif – Head of Islamic Operations at Bahrain Islamic Bank
  • Ms. Einas Mohamed Raheemi – Head of Enterprise Support Services & Sustainability at Ithmaar Bank Bahrain
  • Dr. Fatin A Zadjali, Head of Learning & Development at Bank Dhofar Oman
  • Mr. Hussain abdulhaq – Head of Treasury & Financial Markets at Al Salam Bank Bahrain
  • Dr. Jarmo Kotilaine – Economic Advisor at Tamkeen Bahrain
  • Ms. Khawla Ebrahim – Director of Islamic Financial Institutions Supervision Directorate at the Central Bank of Bahrain
  • Sheikh. Dr. Mohamed Arbouna – Head of Shari’ah Compliance at Al Salam Bank Bahrain
  • Dr. Sutan Emir Hidayat – Director of Islamic Economy & Finance Ecosystem at Indonesia Islamic Economy and Finance Committee
  • Dr. Tarek Seif – General Secretary at Insurance Federation of Egypt

Mr. Adnan Yousif was appointed as the Chairman of IFAC while Ms. Khawla Ebrahim was selected as the Deputy Chairman. The term for both positions is set at three years.

On this occasion, Dr. Ahmed Al Shaikh, Chief Executive Officer of the BIBF, said, “The BIBF is thrilled to embark on this new chapter with the reconstituted IFAC, reinforcing its commitment to excellence and innovation in Islamic banking and finance education, research, and consultation. The institute looks forward to a productive and impactful collaboration with IFAC in achieving its strategic objectives for 2024 and beyond.”

Dr. Rizwan Malik, Head of Islamic Finance Centre at the BIBF stated, “The IFAC plays a pivotal role in providing strategic advice and direction to the Islamic Finance Centre at the BIBF to enhance its offerings within the Islamic banking and finance industry. The committee aims to bolster existing programmes while introducing new initiatives in training, research, and consulting. This move aligns with the BIBF’s commitment to creating a holistic ecosystem that corresponds with its vision, mission, and strategic pillars.”

BIBF Building

The BIBF Achieves ISO 27001:2022 Certification for Information Security Management Systems

Tuesday, 16 January 2024

The Bahrain Institute of Banking and Finance (BIBF), the leading training and development organisation in the region, has officially obtained the prestigious ISO 27001:2022 certification for Information Security Management Systems (ISMS), signifying a determined effort to fortify information security measures according to global standards. The BIBF is the first educational institute to obtain this coveted certification in the Kingdom of Bahrain.

The BIBF’s successful certification demonstrates its dedication to safeguarding sensitive information and maintaining the confidentiality, integrity, and availability of data. Over the past year, the BIBF has focused on strengthening the security posture by restructuring the  Information Security programme to meet internationally recognised benchmarks. Key improvements encompass focused security awareness training, a comprehensive overhaul of information security policies, and the implementation of industry standards security measures to protect company data.

ISO 27001:2022 is an internationally recognized standard that sets forth the requirements for establishing, implementing, maintaining, and continually improving an information security management system within the context of the organization’s overall business risks.

The BIBF’s Chief Executive Officer, Dr Ahmed Al Shaikh, stressed on the significance of this achievement, emphasising the institute’s commitment to safeguarding data confidentiality, integrity, and availability. He highlighted this accomplishment as a testament to maintaining the highest information security standards.

Dr. Al Shaikh also expressed gratitude to the IT & Operations team behind this achievement and acknowledged the continuous support and motivation from the management team, which played a pivotal role in this accomplishment.

Mr. Yusuf Al Dakheel, Senior Manager of IT and Operations Department at the BIBF, stated that this certification marks a milestone in ongoing efforts to enhance information  security controls, showcasing the team’s unwavering dedication to safeguarding valuable information. He also highlighted that the certification not only bolsters the BIBF’s reputation but also strengthens trust among learners and partners, through ensuring compliance with relevant laws and regulations while enhancing the ability to address potential security incidents.

The BIBF Celebrates Graduation of 76 Students from Bangor University Undergraduate Programmes

Monday, 4th December 2023

In collaboration with the Central Bank of Bahrain, the Bahrain Institute of Banking and Finance (BIBF) proudly marked the graduation of 76 accomplished students from its international bachelor’s programmes, awarded by Bangor University of Wales. This significant event coincided with the 20th anniversary of the enduring collaboration between BIBF and Bangor University.

The graduation ceremony was held in the presence of His Excellency Mr. Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain and Chairman of the Board of Directors of BIBF, and her Excellency Dr. Diana Abdulkareem Al Jahrami, Secretary General of the Higher Education Council, Professor Andrew Edwards Pro Vice-Chancellor of Bangor University, and Dr. Ahmed Abdul Ghani Al Shaikh, CEO of the BIBF. The ceremony was attended by faculty members, executive management, representatives from banking and financial institutions, and the proud parents and families of the graduates.

The ceremony also provided on-stage job offers and internship opportunities for the graduates, provided by the Bank of Bahrain and Kuwait (BBK), National Bank of Bahrain (NBB), Bank ABC, and SICO Bank. Furthermore, Bangor University presented master’s degree scholarships on stage, marking a historic moment for the institute.

In addition, excellence awards were presented to the graduates by representatives of prominent financial institutions in the Kingdom, including the Bank of Bahrain and Kuwait (BBK), Kuwait Finance House (KFH-Bahrain), National Bank of Bahrain (NBB), Ahli United Bank (AUB Bahrain), Bank ABC, Arab Bank, and The Benefit Company.

A highlight of the event was the acknowledgment of His Excellency Mr. Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain, and Chairman of the Board of Directors of the BIBF, by Bangor University.

Dr. Ahmed Al-Shaikh, CEO of BIBF, congratulated the graduates for their academic achievements and encouraged them to excel in their future careers, emphasizing the Institute’s commitment to contributing to the economic goals of the Kingdom of Bahrain through high-level international academic programmes. Dr. Al-Shaikh also emphasised: “The remarkable statistic from the graduate destination survey, showcasing an 85% employment rate within one year of graduation, is a testament to the BIBF’s dedication to producing graduates who are not only academically adept but also industry-ready. It is truly gratifying to witness that most graduates have already secured employment immediately after completing their studies, which reflects the BIBF’s commitment to providing quality education; ultimately contributing to the economic prosperity of the Kingdom of Bahrain.”

Professor Andrew Edwards, Vice President of Bangor University, expressed pride in the enduring relationship between Bangor University and BIBF, spanning over two decades, providing the banking and financial sector with qualified professionals prepared for the industry’s demands.

The ceremony also featured a speech by Mr. Adnan Al-Ameer, representing the alumni community, and Ms. Jenan Al-Khabbaz, representing the graduates. Certificates were handed over by Professor Andrew Edwards and Dr. Ahmed Al-Shaikh.

The graduates and their parents expressed overwhelming joy at the announcement of scholarships and job opportunities, showcasing the alignment between educational outcomes and industry needs.

Bangor University, a venerable institution in the United Kingdom, offers accredited bachelor’s programmes in banking and finance, accounting and finance, and finance. Notably, it holds the top position in the UK for banking research, according to the latest RePEc database classification.

BIBF - UpGradelle

The BIBF and Upgradelle Forge Strategic Partnership to Build Capacity in Digital Transformation and Agile Project Management

Wednesday, 22 November 2023

The Bahrain Institute of Banking and Finance (BIBF) announced a strategic partnership with UpGradelle, a leading French-based consultancy firm specialised in digital transformation architectures, with the main aim of developing capabilities in the field of Digital Transformation and Agile Project Management. The agreement was signed during the distinguished visit of His Excellency, the Ambassador of France, Mr. Eric Giraud-Telme, who serves to strengthen education and training ties between Bahrain and France.

On this occasion, Dr. Nesrine Beldi Miro Padovani, Co-founder, and CEO of UpGradelle stated, “At UpGradelle, we are thrilled to embark on this transformative journey with the BIBF to empower the Kingdom of Bahrain’s human capital, equipping them with the essential skills to spearhead agile transformations within their respective organisations.”

On his part, Dr. Ahmed Al Shaikh, Chief Executive Officer of the BIBF stated, “This collaboration, with its focus on advancing capabilities in Digital Transformation and Agile Project Management, is set to strengthen the BIBF’s position as a leader in delivering state-of-the-art training and development solutions in this crucial field. As industries worldwide embrace agile methodologies to navigate the challenges of the digital era, the BIBF, with the support of UpGradelle as a digital leader, plans to equip Bahrain’s financial and business sectors with highly skilled agile leaders that can catalyse the change in business operations.”

Ms. Maryam Majed, Head of Digital Transformation and Project Management Centre at the BIBF, stated, “This partnership marks a strategic step in our commitment to equipping professionals with the skills needed to drive digital transformation in their respective organisations. Together with Upgradelle, we aim to empower Bahrain’s workforce, ensuring they are at the forefront of innovation.”

As Bahrain continues its journey towards becoming a digital hub, this collaboration between the BIBF and Upgradelle is poised to cultivate a future where Bahrain’s cadres lead in digital literacy and innovation. It is a step towards ensuring that Bahrain’s human capital is not just prepared for the future but are active contributors to the ongoing digital revolution.

BIBF - Bahrain Bayan School

The BIBF Receives Her Excellency Dr. Shaikha May bint Sulaiman Al Otaibi and the Executive Management of Bahrain Bayan School to Foster Educational Excellence

Tuesday, 21 November 2023

The Bahrain Institute of Banking and Finance (BIBF) received Her Excellency Dr. Shaikha May bint Suleiman Al-Otaibi, the Chairperson of Bahrain Bayan School and the executive delegation. Dr. Shaikha Al Otaibi was welcomed by Dr. Ahmed Abdul Hamid Al Shaikh, Chief Executive Officer of the BIBF. Both parties actively explored potential areas of collaboration and joint projects, emphasising the benefits of establishing a robust partnership in the field of education.

During the visit, Her Excellency highlighted the distinguished efforts made by the Institute in preparing academically and professionally qualified graduates that meet the needs of the labour market, stressing the importance of strengthening ties of cooperation and coordination between the two sides to develop the education sector, in a way that contributes to supporting the development process in the Kingdom of Bahrain.

During the visit, the BIBF team showcased the institute’s academic achievements and innovation, presenting data on student successes, impactful programmes, and recent awards and recognitions. This demonstration reinforced the BIBF’s steadfast commitment and its positive influence on students’ accomplishments.

Her Excellency Dr. Shaikha May toured the BIBF’s building, during which she was briefed on the various available facilities and educational infrastructure available to students, that provides a high-level, distinguished training and educational environment. She was also briefed on the most prominent academic achievements and initiatives of the institute. Her Excellency also acknowledged the institute’s unwavering commitment to excellence in academic education and training development, featuring demonstrations of innovative teaching methods, collaborative projects, and the latest technological advancements in education available at the BIBF.

The BIBF’s CEO expressed gratitude for the visit, noting that it underscores Bahrain Bayan School’s keenness in providing its graduates with a unique educational experience through the BIBF’s academic programmes, aligned with the Kingdom of Bahrain’s Higher Education Council’s quality assurance standards. He also commended Her Excellency’s contributions to supporting the educational process and diversifying development paths at Bahrain Bayan School, positioning it as an advanced and distinguished model among private educational institutions in the Kingdom.

BIBF Chairman - CEO

The BIBF Board of Directors Reinforces the Commitment to Training Excellence

Tuesday, 14 November 2023:

The Board of Directors of the Bahrain Institute of Banking and Finance (BIBF) convened for its third annual meeting, presided over by Mr. Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain and Chairman of the Institute’s Board of Directors.

In line with the wise leadership’s directives aimed at advancing training and development standards, the Board of Directors affirmed its unwavering commitment to enhancing the outcomes of specialised training. The meeting, attended by esteemed members of the Board and the Institute’s Chief Executive Officer, Dr. Ahmed Al-Shaikh, focused on crucial agenda items and the Institute’s strategic work plan.

At the outset of the meeting, Chairman Al Maraj and Board members expressed their dedication to implementing the leadership’s vision for advancing the training and development of national human cadres in the Kingdom of Bahrain. They emphasised the Board’s persistent efforts to elevate the specialised training outcomes. The Board extended gratitude to government and private entities for their collaboration in facilitating training programmes and acknowledged the exemplary efforts of the Institute’s administrative staff.

The session included a comprehensive review and discussion of the Institute’s current and future programmes and initiatives, as well as an examination of the financial results for the preceding period of the current year.

Emphasising the paramount importance of offering cutting-edge training programmes aligned with global developments, Chairman Al Maraj and Board members highlighted the need to maintain outstanding performance. The Board underscored its commitment to achieving the Institute’s aspirations and goals for the forthcoming years.

The BIBF’s mission revolves around elevating the skill set of national cadres in the financial sector to match the dynamic developments in the industry. This commitment is realised through diverse training programmes, with a special focus on financial technologies, executive management sciences, and cybersecurity requirements.

The Board of Directors remains resolute in its pursuit of excellence, ensuring that the BIBF continues to be a beacon for professional development in the financial sector.

BIBF Workshop

The BIBF Concludes a Tech Masterclass on Machine Learning in Banking & Finance

Wednesday, 8th November 2023

The Bahrain Institute of Banking and Finance (BIBF) has concluded a high-level tech masterclass on Machine Learning in Banking & Finance, designed to equip participants with valuable insights and tools to harness the power of data and machine learning in the banking and finance field.

The masterclass, led by Dr. Sudhakar Raju, a renowned Harvard University Professor, introduced participants to the versatile programming language R, a popular programming language used for statistical computing and graphical presentation, making it accessible even to individuals with no prior programming experience. The programme began with fundamental concepts and progressively delved into the world of machine learning, with a strong focus on practical applications within finance and banking. Participants learned about statistical modelling, multiple linear regression, logistic regression, portfolio optimisation, clustering, decision trees, and much more. The integration of R into the course ensured that participants had a hands-on experience to apply their knowledge effectively.

Ms. Maryam Majed, Head of Digital Transformation and Project Management Centre at the BIBF, stated, “This masterclass reflects the BIBF’s commitment to nurturing digital talents in the financial sector, equipping them with the essential skills needed to drive the accelerated shift within their respective organisations.”

She added, ‘We are entering a new era where data and technology are the primary drivers of the economy and development. Embracing machine learning technologies in the financial sector allows institutions to gain a competitive edge, enhance decision-making processes, and improve financial endeavors.”

Ms. Maryam also mentioned that the ‘Tech Masterclass’ concept was introduced last year, to reflect the BIBF’s commitment to being responsive to market requirements by introducing training opportunities on trending topics, staying at the forefront of tech training and providing professionals with the knowledge and skills they need to excel in a rapidly evolving digital landscape.