Bahrain Association of Banks announces the winners of the “Digital Transformation in the Banking Sector” Award

The Bahrain Association of Banks held a celebration on the occasion of World Banking Day, which was launched by a Bahraini initiative through the Ministry of Foreign Affairs in 2019 to mark the 100th anniversary of the establishment of the financial and banking sector in the Kingdom. The United Nations then adopted the designation of December 4 of each year to celebrate financial and banking institutions.

The celebration witnessed the presence of Mr. Khaled Humaidan, Governor of the Central Bank of Bahrain, Mr. Yasser Al-Sharifi, Chairman of the Board of Directors of the Bahrain Association of Banks, members of the Association’s Board of Directors, and a number of officials from the Central Bank of Bahrain, in addition to an elite group of leaders from the banking and financial sector in the Kingdom of Bahrain.

The celebration witnessed honoring the financial and banking institutions that won the “Digital Transformation in the Banking Sector” award, which was launched by the Bahrain Association of Banks last December with the aim of encouraging the banking sector to adopt the best digital transformation practices and solutions. Gulf International Bank was announced as the winner of the first category, “Best Institution.” “Digital Finance” and the Housing Bank of the second category “Best Digital Initiative in Retail Banking Services” won the award.

The winners were selected according to several criteria included in the award, including the institution’s ability to keep pace with modern financial technology and adopt practices, policies and strategies that accelerate digital transformation processes in the sector and launch innovative initiatives, in addition to its ability to enhance customer experience and improve operational efficiency through modern digital technologies, including This includes artificial intelligence applications, and the organization’s commitment to cybersecurity and protecting customer data was taken into consideration during the evaluation process.

The event also witnessed the honoring of the judging committee and the award’s coordinating committee, which contributed to evaluating the prominent initiatives from the various financial and banking institutions that competed for the award, in appreciation of the efforts of the two committees to enhance transparency in all stages of the award and ensure its progress in the best way from its launch until the announcement of the winners.

On this occasion, the Governor of the Central Bank of Bahrain praised the efforts of the Bahrain Association of Banks in highlighting innovation in the financial services sector in the Kingdom of Bahrain through the award, which contributes to digital transformation and stimulating leadership and innovation in order to enhance the prestigious reputation that the Bahraini banking sector enjoys globally.

The Governor added that World Banking Day represents an important occasion to review the role of financial and banking institutions in supporting innovation, digital creativity, financial inclusion and achieving sustainable development, considering the financial services sector is one of the most pivotal sectors contributing to the national economy, and in line with the priorities of the Central Bank of Bahrain to develop the financial services sector.

For his part, Yasser Al-Sharifi, Chairman of the Board of Directors of the Bahrain Association of Banks, said: “We extend our warmest congratulations to both Gulf International Bank and Housing Bank on the occasion of winning this prestigious award, which embodies the firm commitment shown by financial institutions in Bahrain towards adopting digitization solutions and placing digital transformation and innovation at the core of their strategy.” Its work, and we are proud to witness this intense competition for the award and the Bahraini financial and banking sector reaching this qualitative level of efficiency, excellence and creativity in developing digital solutions that employ the latest developments. Financial technology.

In addition, the CEO of the Bahrain Association of Banks, Dr. Wahid Al-Qassim, stressed the importance of the “Digital Transformation in the Banking Sector” award in urging the sector’s institutions to integrate digital technologies into their operations, and to celebrate everything that would represent a valuable addition to the process of digital transformation in the banking industry. He said: “We are proud of the efforts made by financial and banking institutions to achieve greater integration of modern technologies into financial and banking work, and to demonstrate the highest levels of quality and efficiency in the digital services they provide to individuals and companies, and we are confident.” “One of the positive repercussions of the winning initiatives at the sector level and the national economy as a whole.”

For her part, Sarah Abdel Hadi, CEO of Gulf International Bank, expressed her pride in winning this prominent award, saying: “We are very proud to win the Digital Transformation Award in the Financial and Banking Sector, which is added to our distinguished record of achievements, and which embodies our continued keenness and dedication to creating a distinctive digital banking experience for everyone.” And our firm commitment to developing our work to provide comprehensive and innovative solutions that are accessible to everyone, meeting the financial aspirations and needs of our customers.

We extend our thanks to the Bahrain Association of Banks for these motivational initiatives that motivate us to continue and move forward towards comprehensive digitization in the financial sector.”

In turn, the Director General of the Housing Bank, Abdullah Talib, stated his pride and pride in the Housing Bank winning the award for “Best Digital Initiative in Retail Banking Services in the Kingdom of Bahrain” for the “Bayti” platform, as it represents a proud moment for all employees of the Housing Bank. There is no doubt that this high-level honor constitutes a major achievement for the bank, embodying our continued commitment to providing innovative solutions and meeting the housing needs of Bahraini citizens. He said, “On this occasion, I would like to express my thanks and gratitude to the Ministry of Housing and Urban Planning for their generous support and sound guidance to support the bank’s journey.” This fruitful partnership has played an effective role in transforming our vision for the “Bayti” platform into a tangible reality, for the benefit of community members.” Talib added, “We are certain that this award reflects the hard work, sincerity, and dedication of a young Bahraini work team at the Housing Bank, who continue their tireless efforts in pushing the bank’s journey towards more excellence and achievements. While today we celebrate this award, we affirm our firm commitment to continuing to achieve… Success and providing solutions capable of making a difference in the lives of society. In this regard, I extend my sincere thanks and appreciation to the Bahrain Association of Banks for this precious honor, and to everyone who contributed to achieving this honorable success.”

For his part, Khaled Al Khaja, Senior Director of Sales, Marketing and Corporate Communications at Housing Bank, said: “Housing Bank is proud to win the “Best Digital Initiative in Retail Banking” award for the “Bayti” platform. This honor reflects our belief in the importance of partnership between the public and private sectors and the digitization of government services through the launch of the Bayti platform, which combines modern digital technology (proptech and fintech), in compliance with the general direction of the esteemed government and to meet the needs and aspirations of the Bahraini family.”

He added, “It gives me great pleasure to extend my thanks and appreciation to the Ministry of Housing and Urban Planning for their continued support and firm belief in the message of the ‘Bayti’ platform. This award also reflects the tireless efforts made by all members of the young Bahraini work team at the Housing Bank.”

We are proud of these efforts that have succeeded in transforming our ambitious vision for “Bayti” into a tangible reality. In conclusion, I would like to thank the Bahrain Association of Banks for this prestigious award, which in essence represents a strong impetus to continue innovation and achieve excellence in all the products and services we provide.”