business bites www.bahrainthismonth.com September 2022 81 The Bahrain Association of Banks (BAB) has reaffirmed its support for the initiatives of the Central Bank of Bahrain (CBB) to develop new and varied employment possibilities in the areas of open banking, digital banking, and financial transfers. The goal is to give Bahrainis the chance to fill positions that will shape the future development of the banking sector in Bahrain and the world. According to the CEO of BAB, Dr. Waheed Al-Qassim, CBB’S initiatives are essential because they effectively contribute to the development of the banking sector in Bahrain. “The banking sector is now more receptive to new trends such as information technology. This implies that young Bahrainis who are adept at carrying out these new trends can assist in the growth of other industries in Bahrain by linking them within the framework of national plans,” said Dr. Al-Qassim. “BAB is an integral part of this national effort, supporting and working to implement them, within the framework of our work is the implementation of the strategy for the development of the financial services sector 2022–2026, which will strengthen the position of the banking sector with the ability to provide quality job opportunities for citizens, contribute to the GDP, and support various sectors of the national economy,” he concluded. SUPPORT FOR NEW JOBS IN BAHRAIN’S BANKING SECTOR The Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, BENEFIT, officially kicked off its Annual FinTech Internship Programme ‘Masar’. The programme, which is in its first edition, is being held in collaboration with the Supreme Council for Women (SCW). This year, 11 university students and recent graduates are enrolled in the programme segmented into three learning paths including Data services, Payment services and Corporate Support. Head of Human Resources and Administration, Salah Al Awadhi, said: “We are pleased to cooperate with the SCW to enable the participating students to receive hands-on experience in a multivertical financial ecosystem. The tailored programme will conclude with a final project in which students are challenged to submit their most unique concept in order to win a trophy for the ‘Best innovative idea in FinTech’. The pitched innovative idea must streamline existing processes, simplify and lower costs of operations, generate a new income line for the company and add value to society.” Masar provides Bahraini university students and recent graduates an opportunity to shadow industry experts, acquire foundational skills and practical knowledge, and collaborate to develop innovative FinTech solutions, through their introduction to the financial technology ecosystem. Khaleeji Commercial Bank B.S.C recently announced its financial results for the second quarter ended June 30, 2022 reporting a Net Profit Attributable to the Bank’s Shareholders of BHD 3.362 million, compared to BHD3.901 million for the same period of the previous year, with a decrease of 13.82 percent. Earnings per share amounted to 0.45 fils, compared to 1.12 fils for the same period last year. Total Income before Return to Investment Account Holders for the second quarter of 2022 amounted to BHD13.208 million, compared to BHD15.611 million reported in the same period of the previous year, with a decrease of 15.39 percent. As for the biannual financial results for the period ended June 30, 2022 KHCB reported a Net Profit Attributable to the Bank’s Shareholders of BHD6.810 million, compared to BHD6.007 in the first half of last year, with an increase of 13.37 percent, while Earnings per share for the period ended June 30, 2022 amounted to 4.74 fils, compared to 3.74 fils for the first half of the previous year. Total Income before Return to Investment Account Holders for the period ended June 30, 2022 amounted to BHD26.911 million, compared to BHD28.439 million reported in the first half of last year. Chief Executive Officer of KHCB, Sattam Sulaiman Algosaibi, said: “KHCB has launched a number of initiatives that significantly contributed to the stability of our financial performance and growth of the bank’s profit. This includes the introduction of a range of innovative products on the level of saving, deposits, and financing for our individual and corporate clients, in addition to our expansion into advanced digital banking services, in line with the latest financial technologies.” BENEFIT KICKS OFF ANNUAL FINTECH INTERNSHIP PROGRAMME KHCB Reports BHD6.81 Million Net Profit
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