In The Presence of Her Highness Sheikha Hessa Bint Khalifa & In Cooperation with CBB And Financial Institutions UoB’s College of Business Administration Launches the First Batch of Financial Technology Master’s Students’ Projects
Sakhir – University of Bahrain (Khadija Abdulsalam)
20 June 2022
Her Highness Sheikha Hessa bint Khalifa Al Khalifa, Member of the Supreme Council for Women, Chairperson of the Committee on Women in Financial Technology and Chairperson of the Board of Directors of INJAZ Bahrain, expressed her pleasure at the research she witnessed by MSc students in financial technology at the College of Business Administration at the University of Bahrain (UoB), noting that this inclination in harnessing the Fourth Industrial Revolution to serve the banking sector is in the interest of the Kingdom of Bahrain’s continued leadership in developing banking business and the entry of financial technology primarily into the work of this vital sector.
This came on the margins of the closing ceremony to present the graduation projects of master’s students in financial technology, at the Department of Economics and Finance, which was held on Monday (20 June 2022), at the E-Learning Center, at the University’s headquarters in Sakhir, in the presence of the Governor of the Central Bank of Bahrain (CBB), His Excellency Mr. Rashid Mohammed Al-Maraj, the President UoB, Her Excellency Dr. Jawaher bint Shaheen Al-Mudhahki, and a number of banking sector officials in the Kingdom.
In his opening speech, His Excellency the Governor Mr. Rashid Al-Maraj praised the initiatives of UoB in developing and implementing study and academic programs that encourage innovation and contribute to the development of the financial sector in the Kingdom of Bahrain, praising the initiatives of CBB in the field of financial technology, innovation, digital transformation in Bahrain, cooperating with banks and financial institutions, and creating an incubating environment for business.
On her part, Dr. Al-Mudhahki confirmed that the National University’s cooperation with CBB and the banking sector is based on the vision and mission of UoB in community service and scientific research, and in order to achieve sustainable development, to provide the opportunity for students to innovate, and to choose useful technical solutions for customers under the supervision of the concerned authorities.
The graduation projects of the Master’s in Financial Technology students were supported by the use of CBB’s digital laboratory, FinHub973, which runs on the FinX22 platform operating system of Fintech Galaxy.
For his part, the Dean of the College of Business Administration, Prof. Dr. Hatem bin Mahmood Al-Masri, stressed the need for innovation in the field of business and financial activities, and to enhance the opportunities offered by financial technology, noting the role of research and development centers in universities and graduate programs in technical innovation.
Furthermore, he added that the College of Business Administration offers postgraduate study programs that meet the needs of the Kingdom and its endeavors to support the human element capable of keeping pace with technological development and effectively contributing to the Kingdom’s economic growth.
While the Director of the Financial Technology and Innovation Unit at CBB, Yasmeen Al Sharaf, praised the keenness of CBB to support UoB and educational institutions in their future projects, which contribute to the advancement of Bahraini youth and prepare them for the labor market. Also, she praised the role of Fintech Galaxy and the financial institutions participating in the program for their efforts in supporting the students.
The student competition resulted in a financial technology master’s student, Ali Hussain Khamis Abdullah, winning the award for the best graduation project, for his project “Credit Arbitration – Loan Experience”, with the participation of BBK, which aims to facilitate credit transactions, through a digital lending platform that works by applying application programming interface (APIs), to enrich the user experience.
Also, the master’s in financial technology students presented solutions for their final projects during the ceremony, which are: The Capstone Consultancy Project, in which the student, Wajeeh Mohammed Marhoon, presented the Robo-advisory service project, with the participation of BBK, which is an application for managing funds to achieve independence and financial freedom, and the student Hussain Ahmed Fardan presented the “My Funds” project for personal financial management, with the participation of Bahrain Islamic Bank.
Moreover, the student, Amina Saleh Al-Marzooq, presented the application of the “ROSCA-ROSCA” Chain of Faith, with the participation of ABC Bank, to contribute to the creation of social responsibility, while the student Walaa Al Shehab, with SICO’s participation, participated in starting a “digital committee” in the bank, concerned with developing digital transformation, through several initiatives in the various services of the bank.