The Governor of Central Bank of Bahrain Rasheed Al Maraj on Monday held talks with the Chief executive Officers of the retails banks to discuss and deliberate upon the directives of HRH the Prime Minister on easing the financial burden of the small and medium enterprises (SMEs).
“Following a call by His Royal Highness Prince Khalifa bin Salman Al Khalifa the Prime Minister to provide support for the various economic sectors, especially small and medium businesses (SMEs) to overcome the negative effects resulting from the recent political situation in the country, Rasheed Mohammed Al Maraj, Governor of the CBB held a with the CEOs of retail banks in the Kingdom of Bahrain, in order to discuss possible ways which banks may help reduce the financial burdens on SMEs and help them overcome any difficulties they may have faced as a result of the current climate,” the CBB in a statement said.
It is worth noting that many businesses have had suffered due to the events of the recent past especially the SMEs. The Bahrain Chamber of Commerce and Industry (BCCI) had also appealed the financial institutions to offer help to the SMEs if this segment needs some concessions on their financial commitments including the loans.
During the meeting, all banks have shown their willingness to cooperate with customers to reschedule or restructure any facilities if needed to reduce financial burdens on their businesses.
At the end of the meeting, the Governor reiterated the CBBs readiness to cooperate with all the banks in order to ensure the continuity of banking operations to all economic sectors and individuals which will contribute to Bahrain’s economic growth and help mitigate any negative impact from the recent political situation.