The Bahrain Institute of Banking and Finance (BIBF), one of the leading institutions for training and development, announced the launch of Non-Fungible Tokens (NFTs) with an education linked use case, in a first of its kind initiative globally.
This unique step stems from the institute’s belief in the importance of anticipating the future and enhancing the benefit of advanced technologies in various fields – especially education – in line with the government directives and Bahrain Economic Vision 2030.
The BIBF has launched eight unique NFTs on the Binance blockchain, with each unique NFT modeled after the institute’s iconic digital cube and priced at $1000 entitles the first owner to do the ADIF distance learning qualification and all subsequent owners receive 50% discount on all the Islamic finance qualifications and courses provided at the institute.
On this occasion, the BIBF Director Dr. Ahmed Al Shaikh noted that this first of its kind reinforces the leadership and excellence of the Kingdom of Bahrain and the institute’s national competencies; positioning the BIBF as the world’s first capacity building institute to delve into the NFT space.
On his part, the BIBF Head of Islamic Finance Centre, Mr. Mujtaba Khalid, stressed that linking NFTs to the oldest Islamic finance professional qualification in the world reflects the institute’s values in promoting technological developments within its programmes and offerings, as well as other competencies it has provided over the past four decades.
It is worth mentioning that an NFT, or Non-Fungible Token is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded.