It is hard to imagine that simply legislating rights and creating a public expectation of delivery will, in fact, ensure delivery. After all, is there not an expectation that a ration card holder will get decent grain from the fair price shop, yet all too frequently grain is not available or is of poor quality. Information decentralization can help.
A related key development over the past year has been the start of reporting under the new International Financial Reporting Standard no 4, and the significant impact it has had on the insurance industry in terms of reporting. The CBB worked closely with the Bahrain Insurance Association in facilitating this process.