The Bahrain Association of Banks (BAB) has signed a MoU with 21st Century Consulting (21CC) to jointly develop research in banking and finance.

"One of the main objectives of a banking association is to produce research on the sector for business leaders and policy makers," BAB chief executive Robert Ainey said.

"Given BAB's limited resources it is more efficient for the association to outsource research to firms who have the skills and knowledge base to make a meaningful contribution."

The newly-formed firm 21CC's managing director Dr Mohammad Omar Farooq, it employed a group of highly-qualified, experienced professionals with a mission of providing consultancy, research and human capital development related services to help address the competitive challenges of the 21st century in the Mena region and beyond.

"Some of our consultants have already collaborated with BAB on some important research projects focused on Bahrain," he said.

"With a global network of researchers and consultants, we look forward to working with BAB in fostering a research culture and building research capacity in general in Bahrain.

"Together we will undertake specific collaborative projects that enhance research-based consultancy and human capital development," he added.

21CC chairman George Middleton said the company would assist the association in its main objective, which is to help promote the highest standards of ethical banking through the proliferation of knowledge, education and research.-TradeArabia News Service