Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain (CBB), who met with Steve Jenkins, Director Financial Services and Insurance Markets at the Chartered Insurance Institute (CII), called for introducing highest levels of professionalism and ethics in the insurance industry.
Al Maraj also discussed the progress and the collaboration between the CBB, CII and BIBF.
Recently developed qualifications programmes, including the Takaful qualification and appointed representative examination for general and life insurance, were highlighted as key drivers in raising the standards of professionalism in both Bahrain and the broader Middle East region.
Along with discussing future initiatives, the CII commended the CBB and the BIBF on taking leading part in importing the quality of training in the insurance industry.
Al Maraj stressed on the importance of adapting the highest level of professionalism and ethical conducts in an expanding insurance sector.
Jenkins underlined the importance of working with the CBB and the BIBF to promote the highest professional standards and enhance the customers’ confidence in the insurance market.
Husain Al Ajmi, Assistant Director and Head of Centre for Insurance at BIBF commented on the regional leading role that the Kingdom undertakes in promoting and implementing professionalism standards in the insurance industry and highlighted the BIBF’s pivotal role in continuously implementing the CBB-CII initiatives.
Also present at the meeting were Abdul Rahman Al Baker, CBB Executive Director, Financial Institutions Supervision; Nader Al Mandeel, Director, Insurance Supervision Directorate at the CBB; and Mark Greenwood, CII Regional Director.