CBB Governor: Dinar is Stable, No Intention to Detach it from USD
2018-02-08 - 6:13 am
Bahrain Mirror: Central Bank of Bahrain (CBB) Governor Rashid Al-Miraj said that the bank is currently studying the operational environment of digital currencies to put appropriate regulatory restrictions and controls, indicating that the study needs 9 months, during which the risks and control mechanisms will be studied.
Al-Miraj explained in a press statement that the CBB warned investors of the risks to invest in digital currencies because they move without economic restrictions and criteria and are based on supply and demand, as well as complex calculations. He also stressed that the bank does not bear the consequences faced by individuals dealing with these currencies outside Bahrain.
As for the effects of foreign exchange and gold decrease on currency, Al-Miraj stressed that the Bahraini dinar is stable, pointing out to the continuity on linking it to the US dollar. CBB Governor further stated that there is no intention to detach it from the US Dollar now or in the future.
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