CBB chief receives US delegation
Manama, December 1, 2007
The Governor of the Central Bank of Bahrain (CBB) Rasheed Mohammed Al Maraj met a high level US Congressional delegation led by Congressman and senior member of the House Appropriations Committee James Moran.
Al Maraj briefed the members of the US House of Representatives about the latest economic and financial sector developments in Bahrain and pointed to the increased economic activity between the US and Bahrain, following the signing of the Bahrain-US Free Trade Agreement (FTA).
He also provided an understanding of the reforms underway in Bahrain to further diversify the domestic economy and enhance the country’s attractiveness as a jurisdiction of choice for international businesses, including financial institutions.
“Making it easier to do business in Bahrain is our primary objective,” said Al Maraj.
An enhanced role for the private sector and maintaining an open and transparent economy are at the core of the Government’s overall reform process, which touches every segment of the economy and society, he added.
The Kingdom’s financial services industry, which represents 25.5 per cent of the country’s gross domestic product (GDP), continues to thrive, with over 400 financial institutions currently licensed by the CBB.
The US Congressmen were accompanied by Ambassador of the US in Bahrain Adam Ereli. – TradeArabia News Service