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Bahrain’s banking sector is stable: Al-Maraj

Posted by on March 27, 2011 1 Comment

The banking sector of Bahrain remained stable and working normally despite some problems in the past many weeks, according to Rasheed Al-Maraj, governor of Central Bank of Bahrain (CBB).

“The ability of the banking sector of Bahrain by showing positive indices and normal operations in the past many weeks is a proof of a strong foundation of the sector,” he said.

“It is premature to determine the impact of the recent incidents in Bahrain,” the governor in an interview said.

“There have been no major direct negative effects on the banking sector in Bahrain,” he added pointing out that all indices show that all banks in Bahrain are presently safe. “Therefore, it is still too early to talk about the volume of impact the recent incidents in Bahrain have had on the banking sector.”

“Since the outbreak of the events, we have maintained direct contact with the banks on daily basis to ensure banking operations are normal and taking place without any difficulties,” he explained hailing the banks’ full cooperation in this regard.

“The Gulf region has been able to overcome crises it has faced over the past 40 years, maintained stability and proved capable to deal with all circumstances and foil ill-intentioned conspiracies,” he stressed pointing out the great economic and investment potentials the region has. Agencies

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