Central Bank of Bahrain (CBB) Governor Khalid Humaidan took part in the annual meeting of the Ministers of Finance and Central Bank Governors of the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region.
International Monetary Fund (IMF) managing director Kristalina Georgieva attended the meeting held on the sidelines of the IMF and World Bank Group Annual Meetings in Washington DC.
During the meeting, the Governor affirmed Bahrain’s economic diversification and the growing role of the private sector, which now contributes more than 84 per cent of the kingdom’s GDP.
He highlighted the increasing prominence of financial services as the largest sectoral contributor to the national economy, accounting for 17pc of GDP since 2022.
He also elaborated on the kingdom’s leadership in digital payments and financial inclusion, the instant payment infrastructure and its positive impact on SME financing and wage protection.
He noted that such digital advancements, supported by a strong public-private partnership, are helping to enhance credit access and support small businesses.
Mr Humaidan also expressed appreciation for the IMF’s continued support in areas such as deposit insurance, crisis prevention, and external sector statistics.
He emphasised the importance of harnessing digital transformation in a way that safeguards financial stability, consumer protection, and system integrity.
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