BisB Participates in FinTech Workshops Abroad

Press release
Published October 10th, 2019 - 08:05 GMT
Ms. Maisa Shunnar, Chief Strategy Implementation & Transformation at BisB and Chief Executive Officer of BisB, Mr. Hassan Jarrar
Ms. Maisa Shunnar, Chief Strategy Implementation & Transformation at BisB and Chief Executive Officer of BisB, Mr. Hassan Jarrar
Highlights
During the Workshops, Ms. Shunnar introduced the Bank’s latest digital innovations and technologically-empowered financial solutions

Bahrain Islamic Bank (BisB), participated in the “The Reality and Future of Financial Technology” forum in Palestine. Ms. Maisa Shunnar, Chief Strategy Implementation & Transformation at BisB, presented 3 specialised workshops for business, students and regulators.

During the Workshops, Ms. Shunnar introduced the Bank’s latest digital innovations and technologically-empowered financial solutions, discussing at length the impact of the latest tools and developments in FinTech on the banking sector. She emphasised the importance of harnessing the power of technology to develop financial services in an innovative and differentiated manner. Pointing out the remarkable influence of technology on communications as a result of the accelerated growth in ‘Big Data’ and smart devices in the past decade, Ms. Shunnar discussed the effect of the recent wave of digital transformation on the provision of banking and financial services on an industry level, which has in turn led to financial institutions adopting more innovative technologies. She also debated the impact of FinTech on regulatory frameworks and the various priorities and concerns of regulatory bodies with regard to the challenges and implications of open banking, data privacy and compliance.

Commenting on the Bank’s participation, Chief Executive Officer of BisB, Mr. Hassan Jarrar said, “In order to keep pace with the evolving field of FinTech, continual knowledge-sharing between banks and financially-led institutions and players is critical for progress. To provide world-class and sharia’a compliant banking services and products, we must continue to be creative and challenge the status quo to be able deliver solutions that serve the ever-changing demands of customers in this day and age.”

Background Information

Bahrain Islamic Bank

Incorporated in 1979 as the first Islamic bank in the kingdom of Bahrain, and the fourth in the GCC. Bahrain Islamic Bank (BisB) has played a pivotal role in the development of the Islamic banking industry and the Kingdom’s economy. The Bank operates under an Islamic Retail banking licence from the Central Bank of Bahrain and is listed on the Bahrain Bourse.

At the end of 2016, the Bank’s paid up capital was BD 101 million, while total assets stood at BD 1042 million. The Bank’s modern branch network comprises 5 branches, 4 innovative financial malls, and 56 ATMs located throughout the Kingdom. A steadfast focus on continuous innovation, strong corporate governance and risk management, employee development, and the use of state of the art technology to deliver superior customer service, has cemented Bahrain Islamic Bank’s position as the leading Sharia’a – compliant bank in the Kingdom.

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