The Governor of the CBB Rasheed Al Maraj, met with the CEOs and general managers of all retail banks operating in Bahrain to discuss the situation and its impact on banks’ operations.
All banks confirmed that all banking operations are functioning normally, and the bank’s customer services continue to run through the network of branches all over the Kingdom.
“All financial transactions are at the normal level and the dinar continues to trade at the same level,” they added.
The Governor assured the banks that the CBB will continue to cooperate and support the retail banks and provide all necessary support to facilitate the banking operations to meet their customers’ needs.
“It is normal following any political or economic development that the credit rating agencies would review the ratings, however we believe that the economic fundamentals of the Kingdom of Bahrain remain strong and that the short term economic and political developments should not entirely reflect on the review,” the CBB Governor said while commenting on the revision of ratings by some agencies after the recent developments in the Kingdom of Bahrain.
It is worth noting that at least two of foreign retail banks had refused to open their doors on one of protest days for business despite the standing instructions of the CBB.