Manama, April 3 (BNA): The Central Bank of Bahrain (CBB) has been awarded the ISO 22301: 2019 Certificate in Business Continuity Management System (BCMS) after undergoing audit procedures, meeting all standard requirements and successfully passing the audit process.
ISO 22301: 2019 BCMS is an internationally recognized certificate awarded to the Central Bank of Bahrain for its efforts in adopting the best international standards to ensure business continuity, its application of best practices to ensure continuity, preparedness to face potential risks, sustainability in providing banking services and its effective supervisory and regulatory role.
ISO provides an approved standard for organizations to assess their level of competence, capabilities and duties related to business continuity even in times of crisis.
The Executive Director of Corporate Services at the Central Bank of Bahrain, Yousef Rashid Al-Fadhel, said the honoring represented another outstanding achievement for the Central Bank of Bahrain.
He said: “We commend the efforts of our employees in achieving our strategic goals and vision in providing reliable and sustainable systems to ensure business continuity and contribute to strengthening the role of the banking sector within an integrated economic system.”
“A commitment to business continuity management and crisis preparedness initiatives has paid off in overcoming the fallout from the COVID-19 pandemic, while ensuring employee safety and uninterrupted business sustainability and development.”
The Director of Information Technology at the Central Bank of Bahrain, Tariq Mohammed Al-Alawi, stressed the importance of the certificate.
“We are pleased and honored to receive this distinguished certificate,” he said.
This step comes within the framework of the efforts of the Central Bank of Bahrain to adopt the best international standards and practices in various administrative systems to improve the performance of the banking sector in the Kingdom. Likelihood of it happening, and recovery time.”
He added that developing a business continuity management system to overcome any crisis at any time is among the priorities of the Central Bank of Bahrain.
“This international certification demonstrates the importance of flexibility when unforeseen events occur and the application of international standards to ensure that best practices are adhered to.”