The Banking Executive Magazine - April 2024

Digital Revolution in Bahrain A DIGITAL revolution is quietly blos- soming in the kingdom with the Cen- tral Bank of Bahrain (CBB) reporting strong activity in its core payment systems last year, highlighting the growing adoption of electronic and real-time transactions. The national banking and financial services regu- lator’s annual report for 2023 notes that the CBB’s Real-Time Gross Set- tlement (RTGS) processed more than 360,000 bank transfers valued at BD104.1 billion ($27.7bn) through- out the year. This translates to a daily average of nearly 1,500 transfers worth BD418.1 million ($111.7m).Notably, customer-driven transactions formed a significant portion of the RTGS vol- ume, accounting for BD4.9bn the BANKING EXECUTIVE 26 ISSUE 184 APRIL 2024 RECORD E-TRANSFERS REFLECT BOOMING DIGITAL REVOLUTION AHRAIN