BisB wins “Most Innovative Islamic Bank” Award in Bahrain

The Uk-based company International Finance Publications Limited has recognized the Bahrain Islamic Bank (BisB) as the “Most Innovative Islamic Bank “. On January 19, 2023, the upcoming banking awards ceremony, at the Jumeirah Emirates Towers Hotel in Dubai will announce the list of regional winners for 2022.

This recognition is a result of the Bank’s efforts to simplify its operations through the use of digital technology. It is a clear indication of the Bank’s efforts to offer Shari’a-compliant products and services. BisB switched its attention over the previous year to support its corporate customers by releasing new digital financial innovations. It also kept expanding into an unknown retail market area, the youth. 

Response to Award Announcement

In response to the announcement that “BisB wins the “Most Innovative Islamic Bank Award in Bahrain” BisB CEO, Mr. Hassan Jarrar gives the following statement: “I would like to congratulate all the staff on this outstanding achievement.”

For example, in light of the ongoing situation caused by the pandemic, we have introduced several strategically important digital products and services in the past year. “We will continue to make good on our promise to make our clients’ financial lives easier. This award is proof of the success we’ve had so far in adopting a digitally driven and inventive attitude to do so.”

The Bank received the honor for the introduction of Future Leaders, a cashless payment solution that provides parents with a prepaid card and, if desired, a wristband to monitor their children’s spending.

In July 2021, there was the inauguration of the refurbished Riffa financial mall, which featured the Bank’s unique new design fusing both analog and digital services. The Bank was also applauded for its progressive approach to ESG (environmental, social, and governance) integration across the board.

In 2021, the Bank formulated a three-year sustainability roadmap with the ultimate goal of being an indispensable, and impact-driven operator by 2023.

All of these steps are in keeping with the Bank’s overall strategy to facilitate Banking operations that support the realization of the Kingdom’s 2030 Economic Vision, and the Kingdom’s Digital Government Strategy.

A key initiative under the 2030 Vision aims to proactively improve the digital readiness and environment of government and educational institutions through the implementation of new digital technologies and solutions.