Bahrain Banks Day
During its celebration of the International Day of Banks on December 5, 2024, the Bahrain Association of Banks (BAB) announced the winners of the “Digital Transformation in the Banking Sector” Award. This celebration marked the United Nations’ official recognition of December 4 each year as the International Day of Banks—an initiative originally proposed by Bahrain’s Ministry of Foreign Affairs in 2019, in conjunction with the centennial anniversary of the kingdom’s financial and banking sector.
The ceremony was held in the presence of H.E. Khalid Humaidan, Governor of the Central Bank of Bahrain, Mr. Yaser Alsharifi, Chairman of the Bahrain Association of Banks, board members of the association, officials from the Central Bank, and a distinguished group of leaders from Bahrain’s financial and banking sectors.
During the event, awards were presented to the winning institutions in the “Digital Transformation in the Banking Sector” competition, which BAB launched in December of the previous year to encourage the adoption of innovative digital practices across the banking industry. Gulf International Bank was named winner in the first category for “Best Digital Financial Institution,” while Eskan Bank won the second category for “Best Digital Initiative in Retail Banking.”
Winners were selected based on several criteria, including their ability to adopt cutting-edge financial technologies, implement effective digital transformation strategies, and launch innovative digital initiatives. Other evaluation factors included improvements to customer experience, enhancements to operational efficiency through technologies such as artificial intelligence, and strong adherence to cybersecurity and data protection standards.
The event also included recognition of the judging and coordination committees, in appreciation of their role in evaluating the submitted initiatives and ensuring transparency and excellence throughout the award process—from launch to final selection.
