The ECB is aware of the criticism that has been expressed with reference to the low level of efficiency and high costs involved in the processing of such payments and fully shares the concerns expressed by the European Parliament in this regard.
Traditionally, Bahrain has concentrated on developing our banking industry, including the wholesale banks that provide project finance throughout the wider MENA region. However, in recent years, in line with the Vision 2030 Plan, Bahrain has sought to diversify its financial sector. We have seen a growing presence of insurance companies and fund managers.