The Bahrain Association of Banks (BAB) has published ‘The Handbook of Retail Banking,’ in collaboration with the Bahrain Polytechnic.

The guide to the retail banking industry in Bahrain, takes a look at the sector from its origins in the 1920s to services currently offered, besides what the future holds as fast-moving technology changes the way that banks operate, said a statement.

The services currently offered include basic current accounts, savings products, mortgages and credit cards by both conventional and Islamic banks in Bahrain.

It also looks “behind the scenes” at retail banking operations with a focus on the role of the Central Bank of Bahrain (CBB) and The Benefit Company – the local switch in the kingdom which handles ATM and POS transactions.

Three final semester business degree students and the BAB’s editorial team researched, wrote, produced and published the handbook, which was sponsored by the National Bank of Bahrain (NBB) in both English and Arabic.

The handbook is aimed at being helpful and an accessible tool for people who want to learn about the basics of finance, and help them understand both the benefits and risks associated with financial services and products.

It should also provide a foundation for people who might consider a career in the financial services industry in Bahrain which employs over 14,000 people and makes up almost 17 per cent of the kingdom’s GDP.

Dr Mohamed Al-Aseeri, acting chief executive of Bahrain Polytechnic described the joint-venture as “a fantastic opportunity for our students to gain a real, hands-on experience with a high profile company.”

“Partnering with the Bahrain Association of Banks availed numerous avenues for our students to enter the world of banking from a practical angle.  Producing an informative Handbook on Retail Banking in Bahrain was a great end-point to the years of study within Bahrain Polytechnic,” said Dr Al-Aseeri. - TradeArabia News Service