Tuesday, Jun 26, 2012
Governor Central Bank of Bahrain (CBB) and the representatives of the banking industry discussed the economic and banking situation in Bahrain and its impact on the performance of the national economy during the year.
Rasheed Mohammed Al Maraj, Governor of the CBB welcomed the chairman and members of the Board of BAB and thanked the Association and all retail banks for their cooperation in implementing the CBB’s plans for the development of banking services in Bahrain. Such as the completion of the International Bank Account Numbering system (IBAN) successfully and on time as well as the completion of automated settlement of cheques, which was introduced last May.
The meeting also discussed the results of field research done by the CBB on the level of fees and interest imposed on the banking services and credit cards and the different level of these fees between banks. The Governor indicated that the CBB will discuss the results of this study with each bank separately to find out the reasons for this disparity and then take appropriate steps to remedy the situation. He also emphasized the importance of the bank’s commitment to the directives and instructions issued by the CBB in dealing with customer complaints noted in the Code of Best Practice on consumer Credit and Charging issued by the bank on July 1, 2007.
The CBB was also briefed on the preparations made by the Association to prepare for the annual reception hosted by BAB on the sidelines of the annual group meeting of the International Monetary Fund and World Bank, to be held this year in Tokyo, Japan. At the end of the meeting the Governor reiterated his thanks and appreciation to the Chairman and Board members of the Bahrain Association of Banks on the continued cooperation between the CBB and the Association.
By Mahmood Rafique - www.twentyfoursevennews.com
24x7 News 2012. All rights reserved.
© Copyright Zawya. All Rights Reserved.