The Central Bank of Bahrain (CBB) and Bahrain Bankers Society (BBS) held their periodic consultative meeting to follow up on the latest developments of Bahrain's banking sector.
CBB's Governor Rasheed Mohammed Al Maraj expressed thanks for BBS' efforts in developing Bahrain's banking sector, in the presence of officials in charge of banks' supervision in CBB.
The panel reviewed several topics, including CBB's initiative of studying the rate of the charges imposed on the banking services for individual clients, expressing their discomfort for the charges' rate and urging banks to review these charges to be reasonable for the clients.
BBS's Chairman and members expressed their dissatisfaction with CBB's intervention in determining the rates of these fees, considering it as an interference in the banks' jurisdiction in terms of their services' policy and prices to suit the competition of this sector.
CBB will continue its consultations with banks' managements in order to reach an understanding for these charges to serve the public interest and keep a convenient level, in line with the regional level.
The panel discussed norms and regulatory standards which are prepared by CBB and await the banks consultation to be approved. BBS expressed its desire of reviewing these drafts and give its opinion before finalising them so as to increase banks' role in this consultative meeting, and CBB's Governor welcomes this suggestion.
The panel reviewed the new eBanking services through new electronic systems in order to facilitate the financial transactions.
CBB suggested that BBS works with retail banks to provide devices and arrangements in branches to serve the special needs, which ensures offering financial services for everyone, and BBS welcomed the suggestion and will look into implementing it.