CBB Governor meets with the Bahrain Association of Banks

Manama, Bahrain - February 17, 2010 - Mr. Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain ‘CBB’ received members of the Bahrain Association of Banks ‘BAB’, headed by Mr. Mayank Malik on Monday, February 15, 2010.

The Governor initiated the meeting by highlighting the importance of the continued cooperation between the CBB and the Association in supporting and developing the financial services sector in Bahrain, and stressed the significance of regular consultation between the CBB and the Association on issues of concern to the banking sector; and thanked the Association and the banking sector for their efforts in support of the private initiatives promoting the Kingdom of Bahrain and their active participation in conferences and seminars, local and international.

The meeting discussed the development of banking conditions in the country in general, the development of financial systems, and overall banking supervision in light of recent developments. The Governor emphasized the importance of the banking industry’s willingness to adhere to these changes.

In addition, the meeting discussed observations made by the industry in relation to a new system of checks which will be introduced to ensure successful implementation of this initiative.