A digital revolution is quietly blossoming in the kingdom with the Central Bank of Bahrain (CBB) reporting strong activity in its core payment systems last year, highlighting the growing adoption of electronic and real-time transactions.
The national banking and financial services regulator’s annual report for 2023 notes that the CBB’s Real-Time Gross Settlement (RTGS) processed more than 360,000 bank transfers valued at BD104.1 billion throughout the year. This translates to a daily average of nearly 1,500 transfers worth BD418.1 million.
Notably, customer-driven transactions formed a significant portion of the RTGS volume, accounting for BD4.9bn in 2023.
