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Advancing a Shared Mission for Finance Leadership
The Waqf Fund, Central Bank of Bahrain
Since 2015, Ivey Executive Education has partnered with the Waqf Fund, an initiative overseen by the Central Bank of Bahrain (CBB), to develop and deliver world-class leadership programs tailored to the banking sector. Over the past ten years, this partnership has reached 117 senior leaders from 15 financial institutions across Bahrain, advancing a shared mission: to equip high-potential Bahraini professionals for C-suite roles in an increasingly complex, global financial landscape.
From bespoke offerings for CFOs, CROs, and compliance leaders to recent programs on innovation, digital transformation, and leadership character, this collaboration reflects a deep commitment to responsive, relevant, and sustained leadership development. The result is a legacy of capability-building that continues to ripple across institutions and careers in Bahrain’s banking ecosystem.
Organizational Goal
In 2015, the Waqf Fund recognized a pressing challenge: a persistent talent gap in top leadership roles across the financial sector. While many mid- and senior-level roles were held by Bahrainis, the C-suite was still largely dominated by international professionals. There was a clear need to invest in the leadership capacity of Bahraini nationals, not only to close this gap but to prepare the industry for rapid global changes in regulation, technology, and customer expectations.
“We needed to help high-potential leaders become globally competitive—to step confidently into top roles with a broader mindset, strategic thinking, and leadership presence. It wasn’t just about technical ability; it was about strategic capability and character.”
— Sohaib Umar, Advisor – Islamic Financial Services Development, Central Bank of Bahrain
The Waqf Fund aimed to:
- Develop a pipeline of Bahraini leaders ready for executive roles.
- Expand participants’ global awareness and strategic thinking.
- Foster cross-bank collaboration and peer networks that would strengthen the local sector.
Solution
To meet these goals, the Waqf Fund partnered with Ivey Executive Education, renowned for its practical, high-impact learning. The programs were designed with a blend of leadership development, technical acumen, global exposure, and immersive learning. Over the years, each cohort’s experience was customized based on role, function, and strategic priority, from foundational leadership skills to advanced digital banking, Islamic finance, and negotiation.
“We worked closely CBB and other collaborators to align the learning outcomes with both sector-wide trends and individual development needs. Each program was iterative—we built on what worked, responded to what was changing, and made sure participants could apply what they learned.”
— Bryan Benjamin, Executive Director, Ivey Executive Education
Experiential learning was at the heart of each design. Real-world case studies, simulations, leadership assessments, and international exposure (e.g., sessions in North America, Europe, Middle East and Asia) ensured participants could build confidence in ambiguous, high-stakes environments. Guest speakers from global banks, immersive visits, and storytelling sessions added relevance and inspiration.
A recent program, for example, emphasized adaptability in a disrupted banking landscape, exploring topics like digital transformation, strategic foresight, and innovation.
Impact
The impact of the Waqf Fund–Ivey partnership can be seen across three levels: individual development, peer networks, and sector-wide leadership capacity.
1. Participant Growth and Confidence
- 88% Net Promoter Score (NPS)
- Average rating of 6.9/7 for overall program effectiveness
- Average 6.2/7 in participant commitment to apply learning back on the job
- Significant increases in confidence across key domains:
- Leading strategic conversations: 6.2/7
- Driving innovation: 6.4/7
- Leading high-performing teams: 6.5/7
- Negotiating for value: 6.4/7
“I hope to improve my confidence and decision-making skills by applying what I’ve learned. My goal is to contribute more effectively to my team’s success, bring fresh ideas to the table, and handle challenges with greater confidence and clarity.”
— Program Participant
2. Peer Collaboration and Alumni Engagement
A defining outcome of the programs has been the creation of informal but durable peer networks. Participants continue to connect via WhatsApp groups and alumni-led gatherings, sharing challenges and advice across institutions.
This was complemented by the formal Distinguished Leaders Series, a local storytelling forum featuring successful Bahraini leaders and alumni, deepening local relevance and role modelling.
3. Sector-Level Talent Pipeline
While the programs were not designed to transform individual banks overnight, the Central Bank of Bahrain has noted a visible shift in sector leadership maturity. This long-term commitment has contributed to a stronger, more confident pool of future-ready leaders, aligned with Bahrain’s broader economic vision.
“What we’ve seen is a growing number of participants taking on broader responsibilities, influencing strategy, and bringing more global perspectives to their roles. The ripple effect is real—even if it shows up first at the team or departmental level.”
— Sohaib Umar, Advisor – Islamic Financial Services Development, Central Bank of Bahrain
Conclusion
The Waqf Fund–Ivey Executive Education partnership exemplifies what’s possible when leadership development is pursued with clarity, continuity, and co-creation. Over ten years, this collaboration has supported the rise of Bahraini leaders who are not only more strategic and confident, but also more connected, globally aware, and ready to drive change in their institutions.
As the banking sector continues to evolve, the foundation built through these programs ensures that Bahraini leadership is not just participating in the future, it is shaping it.
“It’s been a decade of building leadership, trust, and shared purpose. We’re proud of what’s been achieved—and even more excited about what’s ahead.”
— Sohaib Umar, Advisor – Islamic Financial Services Development, Central Bank of Bahrain
