Dr. Waheed Al Qassim, CEO of the Bahrain Association of Banks (BAB), engaged in a pivotal discussion with Ms. Zainab Wahba, Deputy Director of Training at the Union of Arab Banks, during the Kingdom of Bahrain’s Environmental, Social, and Governance (ESG) Workshop.
This event, organized in collaboration with the Central Bank of Bahrain, BAB, and the Union of Arab Banks, served as a platform to enhance cooperation between the two entities.
The meeting, a part of the broader collaborative effort, centered around fortifying the partnership between BAB and the Union of Arab Banks. Dr. Al Qassim and Mrs. Wahba explored avenues for joint initiatives, focusing on the dynamic landscape of the banking industry. A key aspect of their conversation involved the implementation of cooperative initiatives, training programs, and awareness campaigns specifically addressing environmental, social, and governance (ESG) practices within financial institutions.
In-depth discussions encompassed the comprehensive understanding of risks that banks face concerning climate change. Emphasizing the necessity for continuous education and skill development, they discussed the establishment of a permanent educational and training platform. This platform aims to raise awareness and enhance expertise regarding ESG issues, incorporating international best practices, frameworks, and initiatives.
The conversation delved into effective mechanisms for disclosure, ensuring transparent communication with regulators and stakeholders. Dr. Waheed Al Qassim and Ms. Zainab Wahba underscored the importance of adhering to industry standards, emphasizing transparency and accountability in every aspect of the banking industry’s ESG practices.
During their meeting, Dr. Al Qassim, emphasized BAB’s commitment to establishing robust lines of communication with the Union of Arab Banks. He highlighted the importance of fostering strong ties and sharing valuable insights and practices within the financial industry.
Dr. Al Qassim acknowledged the impactful initiatives undertaken by the Union of Arab Banks to elevate the banking sector throughout the Arab region. He expressed BAB’s readiness to collaborate, aiming to benefit its members from financial and banking institutions. Additionally, he expressed eagerness to leverage Bahrain’s pioneering experiences in financial and banking services for mutual growth.
Mrs. Zainab Wahba expressed gratitude for the collaboration with BAB and other partners in organizing the workshop. She emphasized the Union of Arab Banks’ commitment to monitoring the workshop’s outcomes, highlighting the pivotal role of environmental, social, and corporate governance practices in financial and banking services.
Mrs. Wahba emphasized the significance of their fruitful discussion, underlining the need for a joint cooperation program between the two organizations. This initiative aims to propel the banking industry’s advancement across the entire Arab region.