Digital banking services in focus

The Central Bank of Bahrain (CBB) continues to support efforts to introduce modern financial technologies to develop an appropriate environment for new banking services related to fintech applications, said CBB Governor Rasheed Al Maraj.

He expressed keenness to open the way for banks and financial institutions to co-operate and expand in this field. He said the bank has embarked on a comprehensive review of regulatory directives to keep pace with developments in the financial sector, some of which were finalised recently following a round of consultations with the financial sector.

He was chairing a meeting with the Bahrain Association of Banks (BAB) board of directors and senior officials of banks operating in the kingdom to discuss matters related to developments in the global financial and banking conditions and their repercussions on the local financial sector.

The bank’s plans to issue new directives and regulatory standards as well as to implement the strategy to develop the financial services sector were also examined.

Source: https://www.gdnonline.com/Details/1071806/Digital-banking-services-in-focus