Bahrain Economic Development Board (EDB)’s Post

Just wrapped up our active participation in the "Driving Agility and Digital Innovation in New-Age Financial Services" event, hosted by Du Business and IDC. Aafaq is strategically committed to leading this transformation, leveraging insights gained from the event to shape the future of financial services through digital innovation and strategic agility. #AafaqIslamicFinance #AafaqUAE #Innovation #DigitalTransformation #FinancialInnovation #StrategicAgility #UAE #Dubai #Finance #Fintech #Banks

A new report published today by the Federation of International Banks in Ireland (FIBI) shows that 70% of FIBI member firms expect to see growth in their Irish operations in 2024. More than 40% of FIBI firms also expect to increase the number of people employed in 2024 and invest further in technology and innovation here. Read in full here https://lnkd.in/e_yhVvNz

UAE banks excluded from the FATF "grey" list The Financial Action Task Force on Money Laundering (FATF) has removed the UAE from the "grey" list after implementing all 15 recommendations of the organization. The decision was announced following the results of the FATF plenary meetings in Paris on February 23, 2024.   This step will contribute to the expansion of the UAE banking sector, increase international trade and strengthen investor confidence in the second largest economy in the Arab world. https://lnkd.in/dMxHyn4U

UAE banks excluded from the FATF "grey" list The Financial Action Task Force on Money Laundering (FATF) has removed the UAE from the "grey" list after implementing all 15 recommendations of the organization. The decision was announced following the results of the FATF plenary meetings in Paris on February 23, 2024.   This step will contribute to the expansion of the UAE banking sector, increase international trade and strengthen investor confidence in the second largest economy in the Arab world. https://lnkd.in/dMxHyn4U

We are pleased to share our contribution in the The "New Banking & Finance 2023 Guide" https://lnkd.in/eu4V39uc published by Chambers and Partners. The purpose of our paper is to show how the banking and financial Moroccan market has been strengthening its position in the region over the past decade. It is now clear to all observers that, thanks to the dynamism of Moroccan players, including banking and financial authorities, and the reliability of its law, the #KingdomofMorocco is becoming the financial crossroad of #Europe and #Africa. #alaingauvin #bankalmaghrib #ammc

The Bank of Namibia plans a detailed study on financial sector fees, responding to widespread public concern. The initiative aims to explore transparency, compare international fee structures, and recommend policies to reduce excessive costs and enhance financial inclusion." #BankofNamibia #FinancialFees #ConsumerRights #BankingTransparency #FinancialInclusion #NamibiaFinance #BankingSector #CostOfBanking #EconomicStudy #FinancialRegulation #GlobalFinance #InclusiveEconomy #DigitalPayments #NamibiaEconomy #BCS

Fintech Forward 2023 at Exhibition World Bahrain saw discussions and interviews with financial institutions, fintech firms, investors and thought leaders reimagining finance and challenging the old order. The transformation agenda on day one was programmed by The Economist with the support of the Bahrain EDB. Bahrain Economic Development Board (EDB) #GDNNews #GDNOnline #Manama #bahrain #gdnmedia #bhfyp #bahrainnews #fintechforward2023

Bahrain secured a ranking 1st globally in Islamic Finance Regulations in this year’s edition of the ICD-LSEG Islamic Finance Development Report, cementing the island nation’s standing as a leading pioneer in Islamic financial regulation on an international level. The report outlined fintech, digital banking, and artificial intelligence (AI) as some of the key emerging trends, which resulted in pivotal impacts on the development of Islamic banking in the decade leading up to 2022. In addition to being recognised as a country where new digital banks were opening amongst leading countries across Asia, the Middle East, and Europe; Bahrain earned high rankings across key criteria. Bahrain was recognised for an upsurge in hosting online events led by the AAOIFI, CIBAFI and IIFM, all of which are headquartered in Bahrain. #banking #islamicfinance #finance #regulations #ICD #financial #fintech #digitalbanking #AI #islamicbanking #digitalbanks #middleeast #europe #digital #AAOIFI #CIBAFI #IIFM #business #bahrain #gcc #new #businessnews #bahrainnews #bizbahrain

🌐 VII International Banking Forum Update 🌐 We are proud to share that Dr. Elvin Afandi, Head of Corporate Strategy and Research at the Islamic Corporation for the Development of the Private Sector (ICD), recently graced the VII International Banking Forum with an insightful speech. 📅 Held in the historic city of Baku, Azerbaijan from November 1-2, 2023, the forum convened thought leaders and industry experts to spearhead discussions on the future of banking. 🔍 Key Focus Areas: ✔ The drive towards a cashless economy ✔ Latest trends in digitalization & financial technology ✔ Innovation in banking products ✔ Modern compliance, judicial challenges, and adaptation ✔ Strengthening financial sustainability Dr. Elvin emphasized the substantial potential for the private sector in harnessing partnerships with multilateral/bilateral institutions and government organizations. "Such collaborations are crucial for advancing digitalization and implementing equitable policies at national levels." ✨ ICD remains committed to supporting these initiatives, fostering efficiency, and enabling a transformative impact on the financial landscape. Stay tuned for more insights and developments from ICD! #ICD #InternationalBankingForum #DigitalTransformation #FinancialSustainability #PublicPrivatePartnership