Manama, Bahrain: As part of an official visit to the Kingdom of Bahrain, Hon. David Burt, Premier of Bermuda, visited the Central Bank of Bahrain, in the presence of HE Abdulla bin Adel Fakhro, Minister of Industry and Commerce and Head of the Honorary Mission. The Premier was received by HE Khalid Humaidan, Governor of the Central Bank of Bahrain.

During the visit, the Premier praised the Kingdom of Bahrain’s notable progress in the financial services sector, as well as the role played by the Central Bank of Bahrain in reinforcing financial stability and developing regulatory frameworks. He emphasized the importance of exchanging expertise and strengthening areas of cooperation in fields of mutual interest.

For his part, the Governor welcomed the Premier of Bermuda, affirming the strength of bilateral relations and the importance of enhancing cooperation in the financial and banking sectors, in a manner that contributes to achieving sustainable economic growth for both countries.

The Governor also delivered a presentation on the financial services sector in the Kingdom of Bahrain, highlighting its importance and pivotal role in the national economy. The presentation further outlined the Kingdom’s advanced legislative and regulatory framework, as well as the Central Bank of Bahrain’s licensing, supervisory and regulatory policies governing financial institutions, in line with international best standards and practices, thereby enhancing the sector’s resilience and attractiveness to investment.

The presentation also addressed the Central Bank of Bahrain’s efforts to support financial innovation and develop the sector’s infrastructure, including keeping pace with digital transformation, enhancing the business environment and enabling financial institutions to provide high-quality services that meet the needs of local and international markets.

At the conclusion of the meeting, both sides affirmed their keenness to continue coordination and cooperation in a manner that serves shared interests and supports economic and financial development in both countries.