Central Bank of Bahrain delegation visits the Bahrain Financial Exchange

Press release

Published March 30th, 2011 - 03:32 GMT

CBB Governor visits the BFX headquarters in support of return to normal operations

His Excellency the Governor of the Central Bank of Bahrain (CBB), Mr. Rasheed Al Maraj, today led a high profile team from the CBB on a visit to the Bahrain Financial Exchange as part of a series of visits they will be making to key businesses of the Kingdom’s economy.

Commenting on the visit to the BFX Headquarters, HE Mr. Al Maraj said, “The most important thing for us at the CBB is to ensure that the Kingdom’s economy continues to grow steadily and that Bahrain’s financial sector is running smoothly.”

The meeting discussed the current position of the economy and the business environment, and the Governor reassured the BFX of the CBB’s readiness to ensure the continuity of all of Bahrain’s economic sectors and that the CBB shares the same objective with the BFX going forward which is to work towards a brighter future for the Kingdom as a whole.

Mr. Arshad Khan, Managing Director and CEO of the BFX and the BCDC, commented on the Governor’s visit, saying, “I am pleased to report that our Islamic platform is operating as normal, despite the brief interruption caused by the situation here in the Kingdom and throughout the rest of the Arab world. We are committed to being a key member of Bahrain’s national economy by attracting foreign investment into the country resulting in employment creation and providing a comprehensive platform for multi-asset trading to take place. With the support of the CBB, we will work to ensure that our objectives in the short and long-term are aligned with those of the Kingdom’s and work towards reinvigorating the financial sector as a whole.”

The Bahrain Financial Exchange sits in the heart of the business district in Manama, Bahrain, residing in the Bahrain Financial Harbour. It began operations with the launch of its Islamic division, Bait Al Bursa, and introduced its first Islamic trading product, e-Tayseer, on the 7th of February.

Background Information

Central Bank of Bahrain

The Central Bank of Bahrain ('CBB') is a public corporate entity established by the Central Bank of Bahrain and Financial Institutions Law 2006. It was created on 7th September 2006.

The CBB is responsible for maintaining monetary and financial stability in the Kingdom of Bahrain. It succeeded the Bahrain Monetary Agency, which had previously carried out central banking and regulatory functions since its establishment in 1973 (shortly after Bahrain secured full independence from Great Britain).