COVID-19 accelerated banks digital transformation

SectorFinancial Services

Bahrain Association of Banks (BAB) stressed that the Bahraini banking and financial institutions were able in a short period of time of providing many additional digital services to customers to meet the precautionary measures of social distancing imposed by the pandemic “COVID-19”. The Association added that this would not have happened so quickly without the great investment implemented by those institutions over the past years in the field of the digital transformation.

Dr. Waheed Al Qassim.

CEO of Bahrain Association of Banks said that the efforts taken by Team Bahrain led by HRH the Crown Prince have been tremendously effective to move the country to a more cashless society and reducing physical interactions for the safety and wellbeing of the citizens. As a result, the Central Bank of Bahrain (CBB) has increased the NFC (contactless) card payment limits, differed installments, and prompted e-payments and digital banking solutions.

“All Bahraini banks continued their work and services without any interruption, and customers didn’ more...