MANAMA — Bahrain Association of Banks (BAB), affirmed its keenness to continue coordination, cooperation and joint work with the Central Bank of Bahrain (CBB) to secure the banking system and ensure the continued provision of all its financial services to clients and companies and provide all support to the national economy at this stage.

Adnan Ahmed Yousif, (BAB) chairman of the Board of Directors, expressed his deep appreciation for the results of the meeting held recently with the Central Bank of Bahrain headed by Governor Rasheed Al Maraj, and in the presence of senior officials of prominent banks operating in Bahrain. Yousif said that he appreciates the continuous support that CBB provides to banks in Bahrain to enable them to fulfill their role in these difficult circumstances.

"Since the outbreak of corona pandemic, (CBB) has initiated a series of preventive and supportive measures for banks operating in Bahrain, which has had the most extensive impact in enabling these banks to sufficiently respond to all directives issued by (CBB) on supporting companies and individuals affected by the pandemic, which provided great protection for the economy and society. We also value the importance of control and regulatory measures issued by CBB recently to ensure the regularity of banking services and secure financial stability in Bahrain," Yousif added.

Dr. Waheed Al Qassim, CEO of Bahrain Association of Banks, praised the support of CBB Governor to banks in Bahrain to intensify efforts to achieve more expansion in banking services and electronic payment systems, and confirmed his appreciation to CBB keenness to have a sturdy base of advanced systems and equipment to ensure the provision of these services easily and at a reasonable cost.

"This fruitful coordination meeting with the Central Bank of Bahrain confirms the importance of continuing the joint work between CBB and the banks operating in Bahrain to follow the banking developments in the current circumstances and come out with mutual understandings to respond to them.

“The aim is to support banks and the banking system on the one hand, and ensuring that banks continue to provide their services to the fullest extent for individual and corporate clients and grant them the necessary support at present,” Dr. Al Qassim said. — SG