For the third time, Bahrain Institute of Banking and Finance (BIBF) has won the prestigious “Educational & Training Initiative of the Year” award at the annual Middle East Insurance Industry Awards 2018 event in its fifth edition. The BIBF Director, Dr. Ahmed Al Shaikh, received the award on behalf of the Institute at the official ceremony held in Dubai.
The event, organised by the Middle East Insurance Review (MEIR), highlighted superior performances of Insurance companies from across the region; providing a platform for furthering excellence and boosting professionalism and higher standards in the market through recognising the region’s leading sector players. The participants were nominated following a review conducted by leading representatives from the insurance industry, and audited by EY.
The MIIA, now in its fifth year, is heralded as the premier awards of the MENA region with a clearly defined criteria and a transparent process served by a panel of distinguished Judges. The judging panel was drawn from the domestic, regional and international insurance markets.
The BIBF was recognised for the award due to its education and training initiatives that demonstrate a deep understanding of the market and its needs, while enhancing the standards and professionalism of Insurance executives.
On this occasion, the BIBF Director, Dr. Ahmed Al Shaikh stated, “We are delighted to be recognised by this prestigious award as it reflects the efforts put in providing quality training and development for the Insurance industry. Since its inception in 1981, the BIBF has supplied the regional Insurance sector with skilled, qualified human capital. Its training solutions have served the insurance market in over 12 countries and the reach of its insurance qualifications is evident in many of the accomplishments achieved over the past two decades”. He also added, “The winners must stand tall to raise the bar and make an impact on the industry and continue to fulfill its expected growth”.
One of the recent accomplishments of the Institute is its partnership with the Life Office Management Association (LOMA, USA), which has nearly 1,200 member companies in 80 countries. Through this partnership, BIBF will offer the ALMI (Associate, Life Management Institute) qualification in the MENA region entirely in the Arabic language – a milestone considering that the ALMI qualification is a globally recognised educational standard.
BIBF plays an important role in the training and development of human capital in Bahrain. It partners numerous world-class institutions to offer training in areas of accounting and finance, academic studies, executive development, banking, leadership and management, insurance, Islamic finance and IT. Since its inception in 1981, the Institute has grown from training 400 applicants a year primarily within the banking industry to 16,000 participants from all sectors of the economy. Over 340,000 professionals have earned their qualifications from the institute in the last three decades.