Middle East should be cautious, urges Bahrain regulator

Daily news headlines

BAHRAIN – Middle Eastern regulators should proceed with caution despite the recent economic boom in the region, according to Rasheed Al Maraj, the governor of the Central Bank of Bahrain (CBB).

Speaking at the Gulf Cooperation Council’s (GCC) annual regulatory summit, Al Maraj warned that the subprime crisis, the credit crunch and the Société Générale rogue trader event, highlighted the risks to the region.

“This year's conference is taking place against a backdrop of fresh challenges being posed by a number of global factors and their interplay with regional developments,” said Al Maraj. “In particular, these incidents underscore the need for good risk management and effective internal controls by financial institutions. The role of the regulator in addressing these challenges is crucial.”

Bahrain’s central bank has also introduced a Basel II-compliant framework for Islamic markets. “The recent volatility in international stock markets underscores the need for transparency, which the CBB has achieved through enhanced disclosure standards introduced as of the start of this year,” said Al Maraj.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Calibrating interest rate curves for a new era

Dmitry Pugachevsky, director of research at Quantifi, explores why building an accurate and robust interest rate curve has considerable implications for a broad range of financial operations – from setting benchmark rates to managing risk – and hinges on…

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here