Manama, Apr. 3 (BNA): The Central Bank of Bahrain (CBB) has received the ISO 22301:2019 certification in Business Continuity – Management System (BCMS) after undergoing audit procedures, meeting all standard requirements and successfully passing the audit process.
The ISO 22301:2019 BCMS is an internationally recognized certification that was awarded to CBB for its efforts in adopting the best international standards to ensure continuity of business, its application of best practices to ensure continuity and readiness to address potential risks and sustainability in providing banking services and its effective supervisory and regulatory role.
ISO provides an approved standard for organizations to assess their level of efficiency and business continuity capabilities and duties even during times of crises.
Executive Director of Corporate Services at CBB Yousef Rashid Al Fadhel said the recognition was another milestone achievement for the CBB.
"We praise the efforts of our employees in achieving our strategic objectives and vision in providing reliable and sustainable systems to ensure continuity of business and contributing to strengthening the role of the banking sector within an integrated economic system," he said.
"The commitment to such business continuity management and crises readiness initiatives has paid off in overcoming the repercussions of the Covid 19 pandemic, while ensuring staff safety and the sustainability and development of business without interruption."
Director of Information Technology at CBB Tareq Mohammed Al Alawi stressed the importance of the certification.
"We are delighted and honored to receive this outstanding certification," he said.
"This step is part of the CBB’s efforts to adopt the best international standards and practices in various administrative systems to improve the performance of the banking sector in the Kingdom. This achievement confirms our commitment to continue to develop information security systems, with the aim of ensuring the continuity of business during crises, the CBB’s readiness and responsiveness, reducing the likelihood of occurrence, and recovery time."
It is part of the CBB’s priorities to develop its business continuity management system to overcome any crisis at any time, he added.
"This international certification demonstrates the importance of flexibility when unexpected events occur and applying international standards to ensure that best practices are upheld."