Financial and banking sector ‘main contributor’ to Bahrain economy

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

The financial and banking sector remains the main contributor to economic growth and development in the Kingdom of Bahrain despite major challenges posed by the coronavirus (COVID-19).

Thanks to the royal leadership’s solid support, the country is able to brave those challenges and the sector continues to progress to make Bahrain a financial hub in the region. This was emphasised by HH Shaikh Salman bin Khalifa Al Khalifa, who was deputised by His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa to attend a celebration marking the centennial of the banking sector in the kingdom yesterday.

His Royal Highness Prime Minister’s advisor pointed out the paramount importance accorded by the government to the financial and banking sector by providing it with all legal, organisational and logistic requirements. He paid tribute to HRH the Prime Minister for his unflinching support to the sector which enjoys international respect thanks to commitment of the Central Bank of Bahrain (CBB) and other banks operating in Bahrain to the organisational and monitoring frameworks.

Shaikh Salman bin Khalifa said celebrating the centenary of the financial and banking sector comes at a time the global economy is witnessing major challenges because of the COVID-19. The ceremony was organised by Bahrain Association of Banks (BAB) in the main building of Bahrain Financial Harbour, in the presence of senior officials and leading personalities from the financial and banking sector.

Shaikh Salman bin Khalifa expressed sincere congratulations to the honourees, describing them as a source of pride for their dedication and diligence in serving the nation. He wished the financial and banking sector further success and development. Shaikh Salman bin Khalifa conveyed the greetings and congratulations of HRH the Premier to all participants in the event which celebrates the pioneering role of the financial and banking sector as a main contributor in nation building. He stressed the big development strides made by Bahrain thanks to the valuable directives of HM King Hamad bin Isa Al Khalifa.

CBB Governor Rashid Al Meraj expressed heartfelt thanks and gratitude to HRH the Prime Minister for patronising the ceremony which, he said, reflects his unwavering support to the sector as well as keenness on its development.