CBB and SWIFT hold annual SWIFT user group meeting in Bahrain
Manama, Bahrain: The Central Bank of Bahrain (CBB) has partnered with SWIFT to hold the annual SWIFT national user group meeting in Bahrain. The event was held on Tuesday, 8th April 2025, at the InterContinental Regency Hotel, with the participation of over 60 representatives from various licensed financial institutions in the Kingdom.
The meeting provided attendees with the latest updates from SWIFT, including SWIFT's Global Payment Innovation (GPI) designed to improve cross-border payments for both clients and banks. The session also highlighted the Pre-Val service, which aims to reduce potential errors in payment messages by pre-validating payment data before transmission.
On this occasion, Mr. Yousef Rashid Al Fadhel, Executive Director of Corporate Services at CBB and Chairperson of Bahrain's SWIFT User-Group, said: "We are pleased to collaborate with SWIFT to gather Bahrain's user members. Through this event, we hope to contribute to boosting the competitive potential of all parties, while enabling them to meet the developments of the thriving payment landscape."
The meeting also focused on the qualifications behind the ISO 20022 certification, a global standard for exchanging electronic data between financial institutions. In addition to the objectives of the Group of Twenty (G20), the premier forum for international economic cooperation.
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