Bahrain PM urges banks' rate monitoring
Manama, May 19, 2014
Bahrain's Prime Minister has urged banks in the kingdom to monitor loan interest rates rigorously to serve customers fairly, a report in the Gulf Daily News said.
His Royal Highness Prince Khalifa bin Salman Al Khalifa affirmed the government's determination to develop systems to consolidate the kingdom's economic status and competitive potential in the investment and banking fields, the report said.
He emphasised that interest rate spread, or the gap between the interest rate a bank pays on deposits and the rate it charges for loans, should serve the interests of customers and banks, calling on the Central Bank of Bahrain to take that into consideration.
His directive came as he received parliament chairman Dr Khalifa Al Dhahrani, Shura Council chairman Ali Saleh Al Saleh, MPs and senior officials.
The Premier expressed strong resolve to continue serving citizens and improving their living standards, stressing that attempts to distract the government and impede its efforts to achieve more development for the nation will not succeed, the report said.
He said the government is committed to building the nation and enhancing its development, on the one hand, and safeguarding its security and stability, on the other. -TradeArabia News Service