The Ministry of Justice, Islamic Affairs and Endowments, the Endowment Fund, and the Bahrain Institute for Banking and Financial Studies (BIBF), the leading national institution for banking and financial training and development in the region, signed a cooperation agreement to train judges in the areas of traditional banking, Islamic finance, insurance, real estate and digital transformation, in cooperation with the Institute of Judicial and Legal Studies. .
The agreement was signed by His Excellency Sheikh Khalid bin Ali Al Khalifa, Minister of Justice, Islamic Affairs and Endowments, and on behalf of the Waqf Fund of the Central Bank of Bahrain, Mr. Khalid Hamad Al Hamad, President of the Fund, and for the Institute; Dr. Ahmed Abdul Hamid Al Sheikh, Director General, in the presence of Mr. Rasheed Al Maraj, Governor of the Central Bank of Bahrain.
The signing of the agreement stems from the Kingdom of Bahrain’s plans to consolidate the elements that attract investment, including enhancing the specialization of commercial courts, where the Institute of Judicial and Legal Studies works to provide specialized training based on the best local and regional practices, with the aim of qualifying specialized judicial cadres and expertise, in cooperation with the Supreme Judicial Council.
Under the agreement, the BIBF Institute will provide training experiences for judges in the areas of traditional banking, Islamic finance, insurance, real estate and digital transformation. The Institute will also provide relevant training experience in commercial contracts across multiple disciplines.
On this occasion; His Excellency Sheikh Khalid bin Ali Al Khalifa stressed the importance of continuous specialized training in the development of judicial work, in cooperation with the specialized academic institutions, praising the existing cooperation between the Ministry and BIBF in providing the necessary training for judges in the financial, banking and technical fields, in line with the plans of The Kingdom of Bahrain to provide appropriate and supportive environments for economic development plans.
For his part, the head of the Waqf Fund said, "We are pleased to cooperate with the Ministry of Justice and the BIBF Institute, in order to strengthen the judicial system, which is one of the most important pillars of the ideal business environment, and we always strive to support and develop the system through best practices to use the Fund's financial resources more efficiently and influence the market." "
In turn, the Director General of the Bahrain Institute for Banking and Financial Studies said: "We are pleased to sign this agreement with the Ministry of Justice and the Endowment Fund, which includes the provision of a specialized training program for judges, which contributes to enhancing specialization in the field of settlement of banking and financial disputes, finance and insurance," stressing that this cooperation will contribute to To develop legal and specialized knowledge through the use of high-level competencies.