November 2015 63 www.bahrainthismonth.com The industry continues to grow with many of the major banks establishing innovative services for both private and corporate clients. For example, Khaleeji Commercial Bank (KHCB), one of Bahrain’s leading Islamic retail banks, recently announced the launch of its new e-banking services with a completely revamped user-friendly interface that’s set to revolutionise the way customers conduct their business, enabling them to perform all their banking transactions online. And, another major local player, BBK, has launched an alumni club to ensure the bank does not lose the expertise of former employees. The island attracts some of the region’s foremost banking talents with Ibdar Bank, the Bahrain-based wholesale Islamic investment bank, recently announcing the appointment of Khalil Al Awadhi as executive director, investor relations. He has more than 30 years’ experience in asset management and investment placement in top-tier regional and international financial institutions. There is also a new man in charge at Citi with the appointment of Usman Ahmed as the chief executive officer for Citi Bahrain as well as Citi Islamic Investment Bank. Previously head of corporate and investment at Citi Philippines, he will oversee the bank’s operations in Bahrain as well as leading its effort to provide valueadded Islamic banking products and services to clients across the globe. As in other areas of business, Bahrain is at the forefront regionally in promoting women in banking. The island will shortly host the Women in the Financial and Banking Sector Conference, patronised by HRH Princess Sabeeka bint Ibrahim Al Khalifa, Wife of His Majesty the King and President of the Supreme Council for Women (SCW). The event will be addressed by Dr Mahnaz Safa, a senior London-based banker, with more than two decades of top-tier global banking experience. The conference marks the conclusion of a year-long campaign, aimed at enhancing women’s role in the financial and banking sector. The Central Bank of Bahrain and SCW have hosted a series of events, roundtables and forums to highlight issues relating to women’s advancement in the sector. The conference is expected to bring together more than 250 senior officials and heads of major financial institutions in Bahrain. Meanwhile, the insurance industry is also seeing tremendous innovation from its female members such as Dr Suzanne White who has just launched the Oasis Training Centre for which she and her local colleague, Fetooh Al Zayani, have been accredited as trainers by the UK’s Chartered Insurance Institute, the only people in the Kingdom to hold this accreditation. Suzanne started her career with top UK insurance companies RSA and Norwich Union, spending over 10 years in a variety of technical and managerial positions. She has also taught university students on risk management courses and led an insurance teaching team. Fetooh’s career spans 34 years in executive management, underwriting and business development in the regional and international insurance and re-insurance industry includING leading roles at regulatory and development authorities. Their expertise will certainly be in demand with a new report from Moody’s Investors Service revealing that the GCC remains the fastest growing insurance region with top line growth close to 15 per cent in 2014. The GCC insurance industry has more than tripled since 2006 with premiums increasing to USD22.2 billion from USD6.4 billion and that growth is expected to continue in the coming years driven by the region’s high economic and fiscal strength. Banking on Bahrain The Kingdom’s financial services industry has long been a mainstay of the economy with the island recognised as a substantial regional hub for both banking and insurance. banks&insurance Dr White receives her accreditation from a Chartered Insurance Institute representative
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