Manama, Apr. 26 (BNA): His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa has affirmed that the government has exerted tremendous efforts to promote the kingdom as an international financial centre, and is fully confident in the ability of the national banking leaders to preserve such a landmark achievement and build on it
Manama, Apr. 26 (BNA): His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa has affirmed that the government has exerted tremendous efforts to promote the kingdom as an international financial centre, and is fully confident in the ability of the national banking leaders to preserve such a landmark achievement and build on it by developing the banking sector further.
He called on bankers’ officials to protect the money deposited in their banks and maintain the interests of the depositors through directing them towards investments with least risks.
“We are confident that you are capable of doing that thanks to your rich banking experience,” he said as he addressed a delegation from the Bahrain Association of Banks (BAB), led by its Board of Directors Chairman Abdul Razak Al Qassim, whom he received at the Gudaibiya Palace today.
HRH Premier lauded the crucial role played by the financial and banking sector in supporting the kingdom’s development efforts, praising the national competencies’ contributions that have entitled the kingdom to be a leading and outstanding financial and banking centre in the region.
He highlighted the government’s interest in developing the financial and banking sector through regularly updating its laws and legislation, and providing a suitable environment that allows the sector to operate according the best international practices.
He affirmed that the kingdom’s robust financial and banking sector has helped it overcome many financial challenges and crises thanks to the solid foundations on which it is based.
He stressed that maintaining the financial and monetary stability in the kingdom requires continuous work and efforts, in light of the increasing regional and international competition in this regard, voicing confidence in those in charge of the banking and financial sector to shoulder their responsibilities and be constantly ready to face potential financial or economic crisis.
He added that developing financial and banking services in the kingdom is one of the main core priorities featuring in the Government’s Action Plan for the next four years within a comprehensive economic and human resources development vision, in line with the government’s belief in the importance of this vital sector in boosting the national economy and generating job opportunities for the citizens.
HRH Premier highlighted the government’s keenness to provide more facilities that improve the performance and efficiency of the local financial and banking firms, which, he said, will stimulate more international banking institutions to operate in Bahrain.
The Prime Minister lauded the efforts of the Bahrain Association of Banks in consolidating the kingdom’s reputation and status at the regional and international levels through its visions and proposals that contribute to developing the banking sector in Bahrain.
He underlined the key role of civil society institutions, including BAB, in supporting the kingdom’s development efforts, within a partnership that support the nation-building and progress march.
Board members of the Bahrain Association of Banks affirmed that HRH Premier’s landmark efforts in building the banking sector have put the kingdom in the international financial and banking map.
They praised HRH the Prime Minister’s key role in setting up a solid economic system that enable the banking and financial sector to flourish and play a pivotal regional and global role.
They extended sincere thanks and appreciation to HRH Premier for his interest in all initiatives aiming to develop and spur the national economy.
They said that HRH Premier’s unwavering support to financial and banking institutions has contributed to enhancing its status at the local and international levels.