Manama: Mahmood Rafique, Editor: The Kingdom of Bahrain will maintain its currency being pegged to the US dollar with no imminent change in near future, says Governor of the Central Bank of Bahrain.
HE Rasheed Al Maraj, the CBB Governor, who was one of the speakers at the webinar along with his Saudi counterpart and the IMF representative, said that there would be no change in Bahrain’s US dollar peg policy.
HE the Governor touched upon the policy decisions taken by the Government under the directives of the leadership to safeguard the national economy and minimise the impact of the pandemic on the businesses.
Bahrain’s initiatives helping the private sector by paying the salaries of Bahraini nationals initially for first three months ending in June and next three months from July to pay fifty per cent of salaries bills in the private sector for the local workforce have won applauds from the speakers.
HE Governor Rasheed Al Maraj also informed that there would be package for SMEs and micro businesses and modalities were being finalised on that initiative.
“The Government of Bahrain has paid the electricity, municipality and water tariffs for citizens and residents for three months from the month of March. Now the same has been extended for citizens for another three months as part of initiative to minimise the impact during this pandemic.
Organised by Al-Iktissad Wal-Aamal and the International Monetary Fund (IMF) the webinar titled policy priorities to promote a robust Post Covid-19 recovery in the GCC Countries and outlook of oil exporting countries in the region provided a firsthand information about the policies aimed at the COVID-19 and its impact on the region’s economies.
HE Dr. Ahmed AlKholifey, Governor of the Saudi Arabian Monetary Authority, Dr. Jihad Azour, Director of the Middle East and Central Asia Department at the IMF, Alain Bejjani, CEO, Majid Al Futtaim Holding (MAF) were the other speakers during the webinar which was moderated by Lara Habib, Senior Presenter, Al Arabiya News Channel.
