Bahrain banks hold reception ahead of IMF-World Bank meet

Manama : Bahrain Association of Banks organized a reception in Washington in connection with the annual meetings of the IMF and the World Bank.

The reception aimed to highlight the importance of the banking industry in Bahrain, its prestigious status and achievements, and the role it plays in supporting governments and private institutions throughout the world over many years dating back to the mid-1970s.

It also promoted Bahrain as a regional and global financial and banking centre and provide the opportunity for Bahraini banks to meet with the largest possible number of officials in Arab and international banks and to strengthen cooperation with them.

During the reception, the Association also organized a number of media presentations highlighting Bahrain’s economy, development indicators, information on the advantages enjoyed by the national economy and investment opportunities, and information on the financial and banking sector in the Kingdom.

Adnan Ahmed Yousif, Chairman of the Bahrain Association of Banks said, “This great success would not have been possible without the strong support of all stakeholders in the Government of Bahrain, particularly the Ministry of Finance, the Central Bank of Bahrain, the Economic Development Board and the Embassy of the Kingdom of Bahrain in the United States.”

“What characterized the reception this year is the high level participation by a large group of ministers and banking officials led by the Minister of Finance Sheikh Ahmed bin Mohammed Al Khalifa, the Governor of the Central Bank of Bahrain Rasheed Al Maraj, and a number of Arab central banks’ governors, and a large crowd of CEOs and officials in Bahraini, Arab and international banks.”

He added that they are delighted that their efforts are converging, unifying and complementing the efforts of the Central Bank of Bahrain, which is making every effort to strengthen the position of the banking industry in Bahrain and with the efforts of the Economic Development Board.

The Bahrain Association of Banks organizes the event in order to encourage international financial and banking institutions and international investors to take Bahrain as a financial and investment centre, thus contributing to the diversification of the Kingdom’s national economy.