Syed Hussein Al -Qassab
The sessions of the “Towards a Sustainable and Sustainable Economic Development” under the title “The Impaired Employees for the Achieving Economic Sustainability” gathered a number of officials in the financial, economic and legislative sectors, with the participation of the Governor of the Central Bank of Bahrain, Khaled Humaidan, the Undersecretary of the National Economy in the Ministry of Finance and National Economy Maryam Al -Ansari, and a member of the Shura Council Ali Al -Shihabi.
The Governor of the Central Bank of Bahrain, Khaled Humaidan, stressed that «financial stability in the Kingdom of Bahrain depends on several matters, including the adoption of the central bank, international standards that enhance growth and ensure best practices, and adopt an operational control value that allows the bank to experience innovative solutions by reducing risks, in addition to maintaining the highest standards related to security, compliance and consumer protection; This enhances confidence between all parties to benefit in the sector.
Humaidan said: «With the digital transformation that we are witnessing today, the role of central banks around the world comes largely important, and the plans of the Central Bank of Bahrain in this regard come through the development of digital solutions that contribute to transfers, in addition to developing regulatory and supervisory systems, and encouraging investment with improving the quality of digital services.
For her part, the Undersecretary of the National Economy at the Ministry of Finance and National Economy, Maryam Al -Ansari, stated that “economic development is not a specific party or ministry, but rather a result of coordination at the national level, and after the launch of Vision 2030, this vision formed for us a basic pillar in the development process, and I believe that it is important to remember the most prominent efforts made by the government of the Kingdom of Bahrain by focusing on a number of major axes, for example the first axis related to creating a legislative and attractive environment for investment through Reviewing the legislation, as well as focusing through programs to enable the support of the Bahraini citizen, as it is the true wealth of the Kingdom of Bahrain.
Al -Ansari said: “Today we see the economy of the Kingdom of Bahrain that transforms from an economy focused on marine wealth into a diversified economy, and is one of the most diverse economies in the region. The economic recovery plan that was put in 2021 branched into 6 promising sectors, the financial and banking sector, the insurance sector, the industry sector, the logistical sector, the tourism sector, the communications and information development sector, and the oil and gas sector ». She added, “I think that all the achievements achieved at the level of economic diversification and sustainable economic development would not have been not to join the efforts at the level of the executive and legislative authorities, and even at the level of public associations.”
In turn, a member of the Shura Council, Ali Al -Shihabi, pointed out that «with regard to the development of appropriate legislation to suit and cope with the requirements of the future economy with its great development in technology, it is important to keep pace with the modern economy through the enactment of new legislation or amendment to the current legislation to create an attractive investment environment for foreign capital and companies.
Al -Shihabi said: “We do not forget the great role that the Central Bank of Bahrain plays through flexible regulatory tools and innovative solutions such as innovative incubators that have established and developed“ Al -Fintak ”technologies, and we in the Shura Council periodically we review existing legislation and create new legislative plans to keep pace with new issues such as artificial intelligence, and last year the Kingdom of Bahrain has submitted represented by the Shura Council with a law regulating uses Artificial intelligence, the Kingdom of Bahrain is the first country in the region, and one of the first countries in the world to organize the uses of artificial intelligence, and this indicates the Shura Council’s keenness to keep pace with everything new in economic development.
