Mastercard has partnered with the Bahrain Institute of Banking and Finance (BIBF) to boost financial education in the Kingdom and throughout the Middle East.
The Mastercard Academy – the knowledge and skills division of the payments giant – has signed an agreement with BIBF to improve financial literacy and bolster financial inclusion in Bahrain.
The latest announcement from the global payments institution follows a commitment in its annual sustainability and diversity, equity, and inclusion reports, published in June, to bring one billion individuals into the digital economy by 2025.
Mastercard’s executive vice president and customer delivery lead (EEMEA), Driss Belemlih, said the deal is part of MasterCard’s corporate aim to “provide comprehensive financial education that will enhance financial inclusion.”
Both parties have committed to supporting relevant industry events to showcase their approaches to financial inclusion through additional thought leadership.
Mastercard is drawing from expertise from more than 200 people in its global network to ensure the collaborative programme achieves the targets set by both parties.
Ahmed Alshaikh, chief executive officer of BIBF said the partnership will position the training provider as “the global partner of choice” for professional education in the payments industry.
Bassam Kazerooni, head of banking and finance at BIBF, said both organisations have a shared desire to drive “sustainable finance” approaches within the payment industry – something which is part of the Kingdom’s “vision”.