Page 22 of 23  challenge to the Council when it comes to convincing the sector of the need to employ different macroprudential policies. Regardless of these new challenges, the Council should continue working towards building resilience in the financial sector. This will be important irrespective of where the next shock originates from.
Standards focusing on capital adequacy and solvency and key areas of corporate governance are now an integral part of the insurance regulatory framework in place for all insurance firms and brokers operating in the Kingdom. The establishment of international standards and their implementation has bolstered Bahrain’s reputation as a regional centre where sound practices prevail.