MANAMA: Bahrain Association of Banks (BAB) held a meeting with the Justice, Islamic Affairs and Endowments Ministry to review its project to establish a banking arbitration, which will help accelerate banking procedures, strengthen Bahrain’s position as a developed financial centre in the region, and attract foreign investment in the financial and banking sectors.
A statement from BAB said both parties agreed to develop a preliminary vision of what could be called a court or a banking arbitration authority that aims to resolve disputes arising from financial and banking transactions in Bahrain quickly and efficiently, taking into account privacy policies of financial and banking issues and the required expertise to speed up decisions and implement its provisions .