At a time when disruptive financial technologies are increasingly influencing the global financial system, Bahrain’s Idbar Bank seems to have taken the challenge emerging from this phenomenon with the seriousness it deserves. To fine-tune its services by changing the global financial landscape, the wholesale Islamic bank had 22 of its employees go through an intensive in-house FinTech training program.
Dubbed “Understanding FinTech”, the concentrated program was aimed at giving the participants an insightful exposure to the world of financial technologies such as blockchain and its derivatives like bitcoin and other cryptocurrencies.
The program was administered by a leading learning and development organization operating in the UAE, Saudi Arabia, and the EMEA region. The core structure of the program was such that it falls in line with the bank’s long-term strategy of digitally transforming its operations with the intention of serving the Global Islamic Digitized Economy (GIDE).
Ibdar CEO, Ayman Sejiny sounded optimistic about the training program when he told the media, “The Bank, in its comprehensive transformation plan, is currently digitizing its Back-, Middle-, and Front-Office operations and processes, whilst building an expert in-house Digital Finance Team. The course is in line with our mission to equip our staff with the knowledge and skills they need to effectively support our transformation strategy.”
It is worth mentioning here that Ibdar Bank recently entered an agreement with the Bahrain FinTech Bay (BFB) to play the role of a strategic partner of the Middle East and Africa’s largest FinTech hub.