His Highness Sheikh Mohammed bin Mubarak Al Khalifa, Deputy Prime Minister, presided over the weekly regular meeting of the Council of Ministers.
The Cabinet decided to refer the report of the Office of Financial and Administrative Supervision for the professional year 2019/2020 to the Coordination Committee headed by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister to supervise the verification of the observations and recommendations contained therein in accordance with the mechanism followed during the review Previous reports of the Office of Financial and Administrative Supervision, expressing the Council's thanks to all ministries and government agencies that did not respond to substantive observations in the report, which reflects their commitment to laws and regulations.
After that, the Council of Ministers praised the role of the banking sector in the Kingdom of Bahrain in supporting the national economy and the rapid development witnessed by the banking industry during its 100-year career, making Bahrain an important center for financial markets in the region and a preferred destination for major financial institutions around the world.
The Cabinet then welcomed the Kingdom of Bahrain's ranking first in the Arab world in the Basel Anti-Money Laundering Index, which reflects the robustness of the frameworks adopted in the Kingdom in combating money laundering and terrorist financing and the conciliation of the government's strict procedures in establishing the principle of transparency and an indication of the strength of its national legislation.
The Cabinet also expressed its sincere condolences and sincere sympathy for the death and injury of dozens as a result of the unfortunate earthquake that struck the Turkish state of Izmir, calling on the Lord to have mercy on the dead and to grant the injured a speedy recovery.
On the other hand, the Council of Ministers condemned the terrorist attack that took place in the French city of Nice, stressing its rejection of such terrorist crimes that contradict all religions, values and human principles.