A regional workshop on reforming payment and securities settlement systems is to take place in Bahrain next month.
The event, from 15th to 17th March 2005, is being organized by the World Bank, in cooperation with the Arab Monetary Fund (AMF) and the Bahrain Monetary Agency (BMA).
The course, which is aimed at policymakers and market participants, will provide cutting-edge information and guidance on the reform of domestic payments and securities settlement systems and explore some of the elements that are considered key for successful reform.
“The BMA is delighted to join hands with the World Bank and Arab Monetary Fund to host such an event,” said Mr. Waleed Abdulla Rashdan, Executive Director, Banking Operations, at the BMA.
The subject of the upcoming event is of particular significance in an era of globalisation and increasing cross-border and multi-currency transactions. “Strengthening the financial architecture, of which payment and securities settlement systems are an integral part, is critical for maintaining the financial stability of the domestic and global economies,” said Mr. Rashdan.
The workshop, which is the first of its kind to be held in Bahrain, will be attended by delegates from throughout the Middle East and North Africa region. It will be conducted by Mr. Massimo Cirasino, Senior Payment Systems Specialist, at the World Bank.
“Payment and securities settlement systems have evolved rapidly in the past five years, becoming a critical issue for financial policymakers and practitioners in the Middle East and North Africa region,” said Mr. Cirasino. “Technology and innovation have dramatically changed the capacity and the context in which these systems operate, making the reform of national payment systems more important than ever.” The workshop will be held at the Gulf Hotel.
