The Specific Council for Vocational Training (Banking Sector) held its first meeting for the year 2012 chaired by Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain. The Chairman welcomed the new council members. The Council reviewed all activities and progress of the Bahrain Institute of Banking and Finance (BIBF) as well as its financial performance and the budget for 2012.
BIBF Director, Garry Muriwai briefed board members on year to date results and said that BIBF results were attributable to both maintenance and growth in the BIBF international linkages, the support of the Financial Sector and BIBF itself meeting the highest international standards. The Council congratulated BIBF on its performance to date.
The Council reviewed the progress on the new purpose-built campus for BIBF. The Council was pleased with BIBF’s current project status, and recognised BIBF’s current capacity issues in its Juffair location, due to its ongoing growth in participant numbers. They requested BIBF to ensure building commencement occurred in 2012. They also offered feedback and input of elements of the building presented.
The Council supported proposed financial sector support by way of sponsorship and donations for completion of the new building, ensuring BIBF provides the best facilities in meeting the professional training and development needs of the financial sector.
The Council requested BIBF to identify an international agency to assist in evaluating all BIBF activities and ensure that they are in line with world class standard.
The Audit committee Chairman reported on the outcome of the audit court report and the internal audit work carried out for 2011.