As you know, the chairman of the
As he pointed out in that letter, the Moody's Bahrain Banking System Outlook Report dated
This clearly demonstrates the actual position of Bahraini banks vis--vis other banks in the region.
It has taken almost one week to print that letter, and then it was buried in the letters page whilst another long article appeared on Pages 4 and 5 (GDN,
The reporting on this issue is biased and incomplete as there are no hard facts to support allegations such as "...so they compete by raising rates".
In fact, rates have declined, fees and charges are clearly listed in Arabic and English, and the loan agreements are in both languages so that the banking customer can understand and agree to them.
In addition, the one suggestion of extending the term of a loan to reduce monthly payments means that the consumer remains indebted longer and pays back a larger amount, which is not in the best interests of the individual and society.
The reporter should have ensured that the point of view of banks be carried in exactly the same way he has portrayed only one side in both articles.
No-one at the Association was contacted prior to running both articles or waited for a statement from the
As a leading newspaper in
EDITOR'S NOTE: Dear Mr Ainey, our article did contain comments from
However, a full report about banks and their customers was published over two broadsheet pages of Akhbar Al Khaleej, our sister paper, on the same day, giving full details of a meeting with both the Central Bank Governor and the chairman of the Association. Their views were highlighted.
We can assure you that our neutrality and impartiality are crystal clear. The reality is that you appear not to have been informed by colleagues about what was published in the Arabic newspaper.
Also, for you to complain that we have not given prominence to your letter is unfair. Our letters pages are among the most important in the newspaper. They are read daily by the highest authority in this country, from whom we receive constant feedback.
Furthermore, we had intended to publish that particular letter on Friday, but delayed it until Sunday at YOUR request.
You as a chief executive ought to read or ask for translations of what appears in the
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