Bahrain & Ireland Sign Memorandum of Understanding

Mahmood Rafique

Bahrain welcomed a high-level Irish delegation led by John Bruton, Chairman of Ireland’s International Financial Services Centre (IFSC) and other representatives from Ireland’s financial services industry.

During their visit, the delegation hosted a seminar entitled “Ireland – the financial services gateway to Europe” which was attended by the Governor of the Central Bank of Bahrain, Rasheed M. Al Maraj. This event aimed to identify investment opportunities in the Republic of Ireland, and exchange Bahrain’s experiences and knowledge in the fields of Islamic Finance and Financial services in general in order to enhance the economic relations between Ireland and the Kingdom of Bahrain.

The visit was highlighted by the signing of a Memorandum of understanding between the Central Bank of Bahrain (CBB) and the Central Bank of Ireland (CBI) which represents the cooperation on the basis of mutual trust and understanding in the fields of supervision of financial institutions, investment and insurance businesses and collective investment schemes.

The Memorandum was signed by Abdul Rahman Al Baker Executive Director, Financial Institutions Supervision at the CBB and Mathew Elderfield, Head of Financial Regulation at the CBI.
“We look forward to working with the Central Bank Of Ireland in order to further enhance the cooperation in the field of financial services, this MOU represents the mutual understanding which will surely initiate further opportunities between the two countries,” said Al Baker.

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