The Bahrain Association of Banks (BAB) has entered into a memorandum of understanding (MoU) with the Applied Science University in Bahrain. This agreement aims to foster collaboration between the two entities to ensure that academic curricula are periodically updated to meet labor market demands. Additionally, it seeks to provide graduate students with practical training to equip them with the continually evolving skills required in the financial and banking sectors.
The MoU also encompasses the organization of joint events, and the periodic undertaking of financial and banking studies and research, with contributions from BAB experts alongside university professors and students. Furthermore, the MoU emphasizes joint efforts between BAB and the Applied Science University to prepare and qualify graduates in the fields of digitization and FinTech.
This initiative underscores both parties’ commitment to the Bahrain Summit’s goals in financial technology, focusing on preparing graduates in digitalization and fintech to drive innovation and growth in the financial sector.
Dr. Waheed Al Qassim, CEO of the Bahrain Association of Banks, commented: “The signing of this MoU is part of the Bahrain Association of Banks’ ongoing efforts to support students and graduates in entering the financial and banking sector. It aims to familiarize them with the industry, guide them on how to enter the field, and highlight the rewarding job opportunities available.”
Dr. Al Qassim emphasized BAB’s dedication to serving as a bridge between financial and banking institutions and educational institutions teaching financial and banking sciences. This collaboration aims to enhance the sector by providing highly qualified Bahraini professionals, thereby increasing the Bahrainization of the banking sector and boosting the number of Bahraini leaders within it.
Prof. Hatem Masri, President of the University of Applied Science in Bahrain, said, “The newly signed memorandum with the Bahrain Association of Banks aligns with the Applied Science University’s strategic goal of becoming a leading educational institution in the region. This partnership underscores the university’s commitment to supporting Bahrain’s economic vision and aims to position the Kingdom as a premier center for teaching and learning.”
Prof. Masri underscored the university’s strategic priority to bolster the practical dimensions of its curricula and emphasized the significance of fostering strategic alliances with diverse Bahraini institutions and enterprises to provide students and graduates with enriching training opportunities. This concerted endeavor aims to cultivate the competencies of national talents, elevate their market competitiveness, and position Bahraini citizens as exemplary candidates in the labor market, particularly in pioneering roles within the dynamic field of financial services and banking. Such initiatives align seamlessly with recent national endeavors catalyzed by the Bahrain Summit, notably in the domains of digitization and FinTech.
