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Bahrain – The contribution that Bahrain’s banking sector has made to the dominion’s financial diversification efforts and its evolving function as a supporter of inexperienced financing had been among the many topical points explored by a number one banker.
Jean-Christophe Durand, CEO, Nationwide Financial institution of Bahrain (NBB), in a wide-ranging interview he gave lately to Oxford Enterprise Group’s on-line broadcasting channel, World Platform, highlighted Bahrain’s standing as a longstanding regional monetary hub, which he stated would strengthen NBB’s plans to additional prolong its attain into different GCC nations, together with Saudi Arabia and the UAE.
He additionally emphasised the significance of guaranteeing that banks have the capabilities to service companies working throughout the financial sectors and of various sizes, consistent with Bahrain’s diversification drive.
Supporting massive tasks
“In fact, we help the massive tasks of presidency firms and their endeavours throughout the framework of Bahrain Financial Imaginative and prescient 2030,” he informed OBG. “We’d like to have the ability to have the instruments to deal with all these segments: retail, small firms, massive firms and governments.”
The affect of Covid-19 pandemic on the banking sector was one other matter examined, with Durand noting that accelerated digitalisation and a broader product vary had been among the many outcomes of the well being disaster.
“We needed to be near small firms to assist them to beat the state of affairs,” he defined. “We’ve got began our journey with a retail app. The pandemic enabled us to evaluate our enterprise mannequin, how we deal with purchasers and the way we help workers as a nationwide financial institution.”
Sharp deal with ESG
Durand added that the pandemic had additionally sharpened the deal with environmental, social and governance (ESG) ideas for banks and raised consciousness of the contribution lenders might make to broader targets by offering inexperienced financing.
“We’ve got a task to play to drive the agenda of ESG,” he stated. “For instance, we’ve began lending for photo voltaic panels, for electrical vehicles. I believe an space the place we most likely have to convey extra consideration is on the environmental aspect, for clear vitality.”
Marc-André de Blois, OBG’s Director of PR and Video Content material, stated the interview with Durand highlighted each the alternatives for worldwide traders to contribute to Bahrain’s financial improvement and the dominion’s standing as a forward-looking vacation spot, effectively positioned to supply environment-friendly financing for firms incorporating ESG ideas into their methods.
Banking sector backing
“Whereas ESG stays a comparatively new idea within the area, recognition is rising that these standards are more and more shaping the worldwide company agenda,” he stated. “Bahrain has lengthy provided the worldwide neighborhood a welcoming setting. I’m delighted that via our video, we’ve been capable of spotlight the dedication taking form throughout the dominion’s banking sector to help sustainable financing and transfer the ESG agenda ahead.”
Copyright 2022 Al Hilal Publishing and Advertising and marketing Group Offered by SyndiGate Media Inc. (Syndigate.data).
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