COVID-19 accelerates Bahrain banks’ digital transformation – Saudi Gazette

COVID-19 accelerates Bahrain banks’ digital transformation – Saudi Gazette

MANAMA “” Bahrain Association of Banks (BAB) stressed that the Bahraini banking and financial institutions were able, in a short period of time, to provide 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 digitization.

Dr. Waheed Al Qassim. CEO of Bahrain Association of Banks said that the efforts taken by Team Bahrain led by 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, deferred installments, and prompted e-payments and digital banking solutions.

"All Bahraini banks continued their work and services without any interruption, and customers didn't witness any delay in completing their transactions, and at the same time maintained the highest levels of electronic and cybersecurity, as the pandemic of COVID-19 was another opportunity that prompted banks to provide digital services more quickly and reliably,“ Dr. Al Qassim added.

"One of the successful