BAB celebrates International Day of Banks next Thursday

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Bahrain Association of Banks (BAB), in cooperation with the Ministries of Foreign Affairs and Finance and the Central Bank of Bahrain, is organizing a special celebration on the occasion of “International Day of Banks”. This international occasion was launched based on an initiative sponsored by “BAB” through the Ministry of Foreign Affairs on the occasion of the 100th anniversary of the establishment of the banking sector in the Kingdom, as UN General Assembly at that time adopted a resolution to designate the 4th of December of each year as the “International Day of Banks”.

The Society will organize this celebration next Thursday, 3rd of December, and it will include a remote meeting with the participation of several speakers from Bahrain and the world remotely, reflecting the distinguished international standing of the Kingdom of Bahrain on the one hand, and the prestigious international banking and financial reputation of the Bahraini banking sector on the other hand, in addition to highlighting the role of this sector at the regional and global levels.

The meeting will discuss many global axes, such as the role of banks in developing the national economy, and in achieving sustainable development goals. This is in addition to highlighting the role of banks as a key element in strategic decision-making in each country, strengthening the human rights system, supporting the handicapped, achieving financial inclusion, promoting banks to innovate in financial services, emphasizing the role of banks in providing decent qualitative work opportunities and reducing unemployment, and stimulating banks to provide microfinance services, providing easy loans to small and medium enterprises at an affordable cost, and encouraging banks to adopt best practices of social responsibility.

The meeting will also discuss motivating banks to provide more studies that contribute to helping decision-makers and emphasizing the role of banks in humanitarian relief operations, combating poverty, education, and health. Moreover, other topics to be discussed in the meeting will include the role of banks in ‏AML/CFT, strengthening the relationship between Islamic finance and the development goals of UN, and highlighting the role of banks as a key element in strategic decision-making in each country, and in providing fast and transparent financing through cash transfers to international organizations such as the High Commissioner for Refugees and the World Food Program, and WHO.

SOURCE: BIZBAHRAIN

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