Bahrain Institute of Banking and Finance (BIBF) has signed a Memorandum of Understanding (MoU) with the General Authority for Statistics (GASTAT) in the Kingdom of Saudi Arabia to foster the development of capabilities in the fields of finance, digital transformation, leadership, and management.
Under the terms of the MoU, both parties will collaborate to design and deliver specialized training programs. GASTAT serves as the sole official statistical reference for data and information in Saudi Arabia.
BIBF is the leading provider of education and training in the region, which was established in 1981 under the umbrella of the Central Bank of Bahrain.
According to the statement, “Leveraging BIBF’s extensive experience of over four decades in diverse business disciplines including banking, finance, financial technology, and digital transformation, these programs will address the specific needs of GASTAT.”
Dr. Ahmed Al-Shaikh, CEO of the BIBF, expressed his appreciation for this agreement with the General Authority for Statistics, emphasizing its significance in strengthening the bilateral relationship between Bahrain and Saudi Arabia.
Dr. Al-Shaikh further highlighted the opportunity to establish a long-term partnership with GASTAT, benefiting from the extensive expertise of the BIBF in training and development.
This collaboration marks a pivotal milestone for both parties, facilitating increased cooperation and the development of specialized training programs tailored to meet GASTAT’s requirements. These initiatives will significantly contribute to Saudi Arabia’s digital transformation objectives.
Dr. Fahad Al-Dossari, President of GASTAT, noted that this partnership will provide a framework for comprehensive training programs for GASTAT’s employees, enhancing their capabilities and meeting the institute’s training needs effectively.