Bahrain's PM calls for financial reforms to meet global challenges

Bahrain's Prime Minister, Prince Khalifa bin Salman Al Khalifa
Bahrain's Prime Minister, Prince Khalifa bin Salman Al Khalifa
Bahrain Prime Minister and Prince Khalifa bin Salman Al Khalifa recently called for new fiscal policies and financial strategies to stimulate and strengthen the kingdom’s economy.

The remarks came at a meeting with the Central Bank of Bahrain’s (CBB) directors, where Al Khalifa urged them to make changes in the name of protecting financial and fiscal stability.

Al Khalifa spoke of major threats to Bahrain’s economy developing around the region and from the rapidly globalizing world economy. The prime minister said new policies must be based on detailed study of those issues to align financial policy with well-informed strategic planning.

CBB Chairman Mohammed Hussain Yateem responded by saying Al Khalifa’s previous policies have strengthened Bahrain’s financial and banking industries, and that such insights will help the nation grow as a regional hub for those sectors.

Al Khalifa told CBB directors that one major key to that stability is to encourage more foreign investment in Bahrain and its industries.

The prime minister said he’s confident the CBB board can adopt new policies that achieve the financial stability required for growing the nation’s economy while creating an atmosphere that drives new investment in the financial and banking sector.