Latest news with #KhalidHumaidan
Biz Bahrain
06-07-2025
- Business
- Biz Bahrain
CBB Announces Strategic Partnership with ARRAY Innovation to Advance Digital Transformation Agenda
The Central Bank of Bahrain (CBB) has entered a strategic partnership with ARRAY Innovation, a local portfolio company of Bahrain Mumtalakat Holding Company, to accelerate its digital transformation initiatives. The partnership agreement was signed in the presence of HE Khalid Humaidan, Governor of the Central Bank of Bahrain, and HE Shaikh Abdulla bin Khalifa Al Khalifa, Chief Executive Officer of Mumtalakat, on the sidelines of the FS Horizons: Doubling Down on Digital event, hosted in collaboration with the Bahrain Economic Development Board. As part of the agreement, ARRAY Innovation will provide strategic advisory and professional services to the CBB to develop and execute key technology initiatives, drawing on its global expertise in payments technology, artificial intelligence (AI), and cloud-based solutions. Commenting on the partnership, Mr. Mohamed Abdulla Abdulkarim, Executive Director of Corporate Services at the CBB, said, 'We are pleased to work with a partner whose expertise and technology solution development capabilities align with CBB's vision for regulatory innovation and growth, and our ongoing efforts in deploying and developing a robust digital ecosystem. With this public-private partnership, our aim is to enhance CBB's institutional capacity, strengthen our technology infrastructure, and further solidify Bahrain's standing as a regional financial hub.' For his part, Mr. Alaa Saeed, Chief Executive Officer and Founder of ARRAY Innovation, remarked, 'We are honored to support the CBB on this strategic journey. Our team will work closely with the Bank to introduce solutions that drive impact and advance the Kingdom's broader ambitions for digital enablement and economic diversification. This partnership also underscores our dedication towards nurturing local tech talent in Bahrain and contributing to the growth of its innovation economy.'
Zawya
04-07-2025
- Business
- Zawya
Bahrain sees Robust Pipeline of Financial Institutions: 16 new financial institutions licensed, 52 in progress
Manama, Bahrain: The Central Bank of Bahrain (CBB) has reported a significant increase in financial institution licensing, with 16 new financial firms approved and 52 additional applications underway from early 2024 through mid-2025. This surge highlights Bahrain's growing appeal as a destination for digital-first financial services, with nearly 75% of the 68 applications coming from international applicants. The influx is expected to create over 850 jobs initially, with more opportunities anticipated as newly licensed firms scale their operations. The license applications span a diverse range of categories, including wholesale banks, payments, investment services, insurance, and crypto-asset services. This diverse portfolio reasserts Bahrain as a hub for financial innovation and solidifies its reputation as a competitive launchpad for regional and international firms. Notably, 16 applicants have been licensed during this period, including two wholesale banks, with additional bank license applications currently in the pipeline. The CBB continues to work closely with the remaining applicants to support them in meeting the licensing requirements. Commenting on this, H.E. Khalid Humaidan, Governor of the Central Bank of Bahrain said, "This increase in licensing applications reflects the CBB's dual mandate of ensuring stability while fostering growth, and underscores the strength of our regulatory framework and the Kingdom's unique ability to attract innovation without compromising financial stability. This achievement is the result of close collaboration with our partners across government and industry, and reaffirms Bahrain's role as a gateway for regional and global growth in financial services." Central to this success is the CBB's unified regulatory model, which provides licensees with a single point of contact across all financial sub-sectors. This model eliminates conflicting requirements from multiple authorities, streamlines compliance, and offers consistent oversight. The announcement was made during the FS Horizons: Doubling Down on Digital event, hosted in partnership with the Bahrain Economic Development Board, where industry leaders gathered to highlight Bahrain's advancements in digital banking, payments infrastructure, and talent development.
Biz Bahrain
04-07-2025
- Business
- Biz Bahrain
16 new financial institutions licensed and 52 in progress
The Central Bank of Bahrain announced a strong wave of financial institution licences from early 2024 to mid-2025, with 16 new institutions approved and 52 licence applications under advanced review. This steady growth highlights Bahrain's appeal as a leading destination for digital financial services, with international applications making up about 75% of the 68 total. These institutions are expected to create over 850 jobs initially, with more opportunities as they expand. The new licences include two wholesale banks, and more banking applications are under review. The Central Bank continues to work closely with applicants to help them meet licensing requirements. Khalid Humaidan, Governor of the Central Bank of Bahrain, said: 'This rise in licensing applications reflects the Central Bank's institutional role and the effectiveness of Bahrain's regulatory framework, which balances attracting innovation with ensuring financial stability. This achievement was made possible by close cooperation with our partners in the public and private sectors, confirming the integrated national efforts to expand regional and global growth in financial services.' This success is based on the Central Bank's unified regulatory model, which gives licensed institutions a single point of contact across financial services. This model helps reduce conflicting requirements, streamlines compliance, and provides consistent and effective oversight. The announcement was made during the 'Financial Services Horizons' forum, organised in partnership with the Bahrain Economic Development Board, where sector leaders discussed progress in digital banking, payments infrastructure, and developing national talent for digital transformation. BNA(R)
Zawya
30-06-2025
- Business
- Zawya
CBB delegation visits Amazon Web Services in London
Manama, Bahrain – A delegation of officials from the Central Bank of Bahrain (CBB), led by H.E. the Governor Khalid Humaidan, visited Amazon Web Services (AWS) at its headquarters in London, United Kingdom. The delegation, which included Mr. Mohamed Abdulkarim, Executive Director – Corporate Services, Mr. Mohamed Al Sadek, Executive Director – Market Development and Mrs. Noora Abdulghani, Executive Director – Supervision, was welcomed by Ms. Tanuja Randery, Managing Director of AWS for Europe, the Middle East, and Africa (EMEA). As part of the visit, the delegation participated in an executive briefing session that featured a series of presentations on various topics. These included emerging innovations contributing to the financial sector's digital transformation, the role of advanced technologies in strengthening the supervisory and regulatory capabilities of central banks, and the strategic value of data analytics in unlocking business opportunities in financial services. Commenting on the visit, H.E. Khalid Humaidan, Governor of the Central Bank of Bahrain, stated: 'It was a pleasure to visit Amazon Web Services, a global leader in cloud solutions and data analytics. This engagement marks a crucial step in strengthening collaboration and exchanging knowledge and reflects our ongoing commitment to innovation and enhancing the financial services sector in Bahrain. It also underscores our determination to remain adaptive in a rapidly evolving financial services landscape, reinforcing our growth and stability mandate across the sector.'
Zawya
19-06-2025
- Business
- Zawya
CBB announces Executive Management Promotions
Manama, Bahrain: As part of its new organizational structure, the Central Bank of Bahrain (CBB) has announced executive management promotions, effective 1 July 2025: Abdulla Ahmed Haji - General Director - Capital Markets & Investment Supervision Nawaf Ahmed Bubshait - General Director - Banking & Credit Institutions Supervision Afaf Khalifa Khalfan - Director - Monetary Operations & Government Debt Management Directorate Fatema Hasan Akhtarzada - Director - Licensing & Regulatory Policy Directorate Mohamed Mahmood Shamsi - Director - Consumer Protection & Enforcement Directorate Sara Khaled Qaed - Director - Anti-Financial Crime Directorate Mohamed Ahmed Al Sulaiti Director - Cyber-Security Unit Fatema Mohamed Ali - Director - Human Resources Directorate Amina Yousif Al Madani - Director - Communications & International Relations Directorate Fatima Abdulla - Director - Retail Banking & Credit Institutions Supervision Directorate Manal Ali AlTurkamani - Director - Capital Markets & Investment Business Inspections Directorate Nabeel Mohammed Juma - Director - Supervision Technology Unit Commenting on the occasion, HE Khalid Humaidan, Governor of the Central Bank of Bahrain, said: 'We at the CBB are committed to empowering qualified national talents shaping the future of the financial services sector. As such, we are pleased to announce the latest promotions which support the decision to adopt the CBB's new organizational structure. We would like to congratulate our team members and hope this step will achieve our goals in maintaining the stability of the financial sector and develop strategies that aim to advance the development of this vital industry.' On his end, Mr. Mohamed A. Karim – Executive Director of Corporate Services at the Central Bank of Bahrain, commented: 'We are proud to be completing our newest promotions, which comprise an exceptional team of local competencies. Through our confidence in their capabilities, we look forward to commencing this next phase of development through their years of leadership and expertise. We also believe this will contribute to fulfilling the CBB's aspirations to prepare capable leaders that will play a vital role in the growth of the local financial sector."
