The Central Financial institution of Bahrain held one other assembly with senior banking officers in Bahrain

Mr. Rashid Al-Maraj, Governor of the Central Financial institution of Bahrain chaired a periodic assembly with the Board of Administrators of the Bahrain Affiliation of Banks and senior officers of banks working within the Kingdom of Bahrain on Sunday, 8 Might 2022 to debate subjects associated to the adjustments in international monetary and banking situations and their implications for the native monetary sector, along with the financial institution’s plan to situation New Regulatory Requirements tips and an implementation plan for the monetary companies sector technique.

The Governor started the assembly by welcoming individuals and expressing gratitude and appreciation for the efforts and cooperation of the banking sector in optimistic interplay throughout the earlier interval in mild of the initiatives of the distinguished authorities within the face of the coronavirus pandemic, and for collaborating and cooperating within the preparation of the monetary companies sector improvement technique ready in inside the financial restoration plan.

Through the assembly, he reviewed the evolution of the worldwide state of affairs with the latest enhance in rates of interest and the concentrate on the steadiness of native monetary and banking situations and the development within the efficiency of the banking sector when it comes to continued optimistic progress in lending and deposits and the preservation of different monetary indicators associated to the extent of effectivity of use. capital and liquidity. The assembly additionally thought of the significance of intensifying campaigns to lift consciousness of cybersecurity dangers, particularly in relation to defending people from fraudulent makes an attempt to acquire private information, and specializing in educating prospects to take precautions to guard their private information and never disclose this information to anybody. occasion.

The Governor affirmed the continued help of the Central Financial institution of Bahrain for the introduction of recent monetary applied sciences so as to preserve tempo with the calls for of the digital financial system, so as to create a correct surroundings for accommodating new banking companies associated to monetary expertise purposes, and its want to open the best way for banks and monetary establishments to cooperate and develop on this space, particularly inside open banking and digital banking.

The Governor additionally indicated that the financial institution has launched into a complete evaluation of its supervisory coverage information to maintain tempo with developments within the monetary sector. This course of will proceed till all elements of the folders have been checked.

For its half, Mr. Adnan Ahmed Yousef, Chairman of the Board of Administrators of the Bahrain Banking Affiliation, and on behalf of the Board of Administrators of the Affiliation and senior banking officers who participated within the assembly, thanked and extremely appreciated the Central Financial institution of Bahrain for collaborating within the dialogue discussion board organized by the Affiliation, and an open dialogue of varied present banking problems with curiosity to banks and the continued help of the Financial institution by the Financial institution, emphasizing that the Bahrain Banking Affiliation is occupied with holding such periodic conferences. with the Financial institution, which discover types of fruitful coordination and cooperation and maximize the contribution of banks to the implementation of applications and initiatives of the financial restoration plan, the event technique for the monetary companies sector and the Bahrain Imaginative and prescient 2030, in addition to being one of many Essential very important industries contributing to progress of the nationwide financial system.

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