The Bahrain Association of Banks (BAB) has signed a memorandum of understanding (MoU) with Bahrain’s Applied Science University (ASU), in a milestone step to change the banking talent landscape.

The MoU marks an era of collaboration between academia and the financial services sector, highlighting both organisations’ mutual dedication to nurturing a workforce capable of driving innovation and long-term success, said a statement.

The MoU demonstrates an integrated effort that includes a periodic evaluation of academic courses guaranteeing alignment with evolving labour market demands and the provision of practical training opportunities for graduates. This hands-on approach provides ambitious professionals with cutting-edge skills and industry exposure required to excel in the fields of banking and financial services, it said.          

Beyond training, the partnership includes the organisation of collaborative events, financial and banking research activities, and a coordinated effort to educate graduates on the frontlines of digitalization and FinTech. This strategic focus aligns with the Bahrain Summit's larger goals, which include establishing the Kingdom as a regional hub for financial technology innovation and talent development.

Dr Waheed Al Qassim, CEO of the Bahrain Association of Banks, commented: "The signing of this MoU is part of the Bahrain Association of Banks' ongoing efforts to support students and graduates in entering the financial and banking sector."

He underscored BAB's commitment to serving as a vital bridge between academic institutions and the industry, nurturing a talent pipeline of highly qualified Bahraini professionals and fostering the Bahrainisation of the banking sector.

Prof Hatem Masri, President of the University of Applied Science in Bahrain, hailed the partnership as a critical step towards realising the university’s vision of becoming a leading educational institution in the region, as well as continuing to support Bahrain’s economic vision and aim of positioning the Kingdom as a key centre for teaching and learning.

Masri further emphasised the strategic importance of improving the practical aspects of curricula and forming strategic connections with an array of Bahraini institutions and businesses. This collaborative approach not only enhances training opportunities for students and graduates, but it also develops the competencies of national talents, increasing their market competitiveness and positioning Bahraini citizens as excellent candidates, particularly in pioneering roles in the rapidly evolving finance and banking sectors. – TradeArabia News Service