Bankers have urged the Bahrain Association of Banks (BAB) to play a greater role in negotiating with the authorities in order to alleviate the consequences of laws and regulations that are imposed on the sector.

In a statement issued after the annual general meeting of the association at the Ritz-Carlton Bahrain, Hotel and Spa, BAB members have sought its increased involvement with reference to regulatory moves which could have a negative impact on profitability and the long-term sustainability of the banking sector in the kingdom, said a report in the Gulf Daily News (GDN), our sister publication.

The meeting was led by BAB chairman and National Bank of Bahrain chief executive Abdul Razak Al Qassim, who presented the association's annual report and audited financial statements for last year which outlined all activities and vision for the future.

"The year proved to be relatively better for the retail banking sector with most banks reporting good results," said Al Qassim.

"Furthermore, the consolidation of banks through mergers and acquisitions continued which should result in stronger and better capitalised financial institutions in the kingdom."

The meeting also saw a review of strategic plan initiated by the board in association with KPMG Fakhro to enhance the role of the association and enable member banks of all types to engage effectively with governmental agencies.

In addition, BAB aims to generate research that supports innovation and growth and to promote awareness of the importance of the financial services sector to the Bahraini economy by expanding its activities both regionally and globally in order to enhance visibility and contributions of the sector to the national economy.

The members of the general assembly also elected a new board of directors for the next two years (2015-2017).

It comprises Al Qassim, Oasis Capital chief executive Dr Farid Al Mulla, Al Baraka Banking Group chief executive Adnan Ahmed Yousif, Ahli United Bank chief executive and managing director Adel El Labban, Arab Banking Corporation Group chief executive Dr Khaled Kawan, Standard Chartered Bank Bahrain Group chief executive Hassan Jarrar, PineBridge Middle East chief executive Talal Alzain, Capital Knowledge co-founder and director Khalil Nooruddin and Ithmaar Bank chief executive Ahmed Abdul Rahim. - TradeArabia News Service