The Bankers’ Society of Bahrain has decided to change its name to Bahrain Association of Banks to more clearly define its purpose of transforming the organisation into a professional industry trade group.

At an Annual General Assembly and Extraordinary General Assembly held recently, the EGA approved a number of changes that will facilitate its transformation, including a new constitution and registration under the Central Bank of Bahrain.

The society’s new board of trustees has elected Mayank Malik, chief executive officer of Citibank, as the chairman and Saleh Hussain as vice-chairman for a two-year term.

Other members of the board are Abdul Kareem Bucheery, CEO of Bank of Bahrain and Kuwait, Adnan Ahmed Yousif, president & CEO of Al Baraka Banking Group, Adel El Labban, group CEO and managing director of Ahli United Bank, Gary Long, president and CEO of Investcorp Bank and Mohammed Ebrahim Mohammed, CEO of Bahrain Islamic Bank.

“The chief objective of the association is to promote the development of strategies and initiatives to enhance Bahrain’s position in the global financial services industry. We can’t do it alone, however, and look forward to the ongoing support and guidance of the Central Bank of Bahrain and close working relationship with the Economic Development Board,” said Malik. - TradeArabia News Service