This evening, Al-Bilad Media Corporation announces the report on its initiative, “The 30 Most Powerful Gulf Banks,” at a ceremony that will be held at the newspaper’s headquarters, in the presence of the Chairman of the Board of Directors, Abdulnabi Al-Shoula, and with the participation of a number of interested parties, headed by the President of the Bahrain Association of Banks, Adnan Yousef.
Earlier this year, Al-Bilad announced the initiative of the 30 strongest Gulf banks and a list of the 5 strongest banks for each Gulf country. This initiative came as a continuation of its role in supporting and serving Gulf economic issues, after the success of the 10 strongest Bahraini banks initiative, and to highlight the contributions. The positive impact of the banking sector in the gross domestic product of each Gulf country, the prestigious global position of the financial center of the Gulf countries, and the pivotal role of banks in supporting the Gulf economy.
The “30 Most Powerful Gulf Banks” initiative also aimed to highlight the advanced level reached by Gulf banks and their contribution to the national economy in each Gulf country, and to provide economic and financial data to researchers and those interested in Gulf financial and banking affairs, in addition to providing a reference and guide to data on Gulf banks and information to contact them. Also encouraging competition in the Gulf banking sector, and raising awareness of modern topics and trends of interest to banks and the banking sector, such as digitization and sustainability, which are part of the evaluation process of participating banks.
A specialized independent evaluation committee was formed, led by the Chairman of the Bahrain Association of Banks, Adnan Yousef, and a number of distinguished banking and economic figures, concerned with setting professional standards for the evaluation process, and determining the banks that will enter the competition, based on the data of the evaluation process, within international principles.
“Al-Bilad’s list of the 30 strongest Gulf banks” in the year 2024 was based on 6 basic criteria in the evaluation process, within 4 classifications related to banking work, and is considered essential for measuring the performance of any bank, whether the bank operates according to traditional systems or according to Islamic systems, or works in sector activities. Retail or wholesale sector.
The initiative’s team collected information about the nominated banks, which numbered 70 banks from all Gulf countries, in addition to their annual reports ending on December 31, 2023. This is in order to begin the process of calculating the results of the standards stipulated by the independent committee, which was carried out by Assure Consulting WLL, and then presenting them to the committee that audited and approved the latest results of these standards.
It is noteworthy that “Al-Bilad” is carrying out a number of initiatives that will support the national and Gulf economy, and highlight national contributions in a number of commercial, economic, hotel, sports, and other sectors, and the most prominent of these initiatives are “The 50 Most Powerful Bahraini Companies,” “Al-Bilad Shield for Corporate Social Responsibility,” and “Al-Bilad Shield for Corporate Social Responsibility.” The country’s richest people” and “A poll of the 11 best Bahraini football players,” in addition to “The 20 most influential figures in the Bahraini economy.”
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