Bahrain is on right path of digital transformation

Manama, Bahrain is treading on the right path of the economic digitization, thanks to the necessary regulatory framework, and infrastructure development to support the smooth digital transformation at the national level.

This was the crux of the two-day BBK Digital Economy Forum and Expo 2020 which concluded on Wednesday and was attended by ministers, CBB Governor, CEO of Information and eGovernment Authority, banks’ CEOs, experts and businessmen.

The ministerial panel set the agenda for discussions over two days covering the variety of digital economy aspects both in public and private sectors.

The panel remained the key highlight of the forum and was addressed by Kamal Bin Ahmed, Minister of Transportation and Telecommunications and by Zayed Al Zayani, the Minister of Commerce, Industry and Tourism.

Mohammed Ali Al Qaed, the Chief Executive of the Information and eGovernment Authority (iGA), highlighted the importance of the legislation and infrastructure development which, he stressed, helped in attracting the inward foreign investments to Bahrain.

Al Qaed spelled out the salient features of the strategy aimed at empowering the private sector to take the lead in research and development of emerging technologies; identifying and supplying innovative solutions and creating opportunities to improve export revenues. We also welcome their contributions in helping us create even more digital-friendly economic policies.

The Kingdom of Bahrain has rolled out regulations that support the Kingdom’s digital transformation including a Personal Data Protection Law. CBB as a regulator continues to aspire, lead and overcome challenges to innovation and to foster the growth of the digital economy and Fintech ecosystem of Bahrain, Rasheed Al Maraj, Governor of the Central Bank of Bahrain (CBB) in a message, said.

Amidst a current advancement in technology brings exciting potential for growth and change that is without doubt around the corner, Dr Ahmed Al Shaikh, Director BIBF, said.

The was organized by BBK under the patronage of the Central Bank of Bahrain and supported by the Bahrain Institute of Banking and Finance (BIBF).

The forum introduced an innovative platform about the importance of digital transformation to revolutionize the economy. It brought together various sectors including health, education, banking and finance, government and other stakeholders to analyze the impact of digital transformation on the national economy.

Source: Bahrain News Agency