Personal Data Protection Law Seminar.
Around 150 senior executives from the Bahrain’s business community attended the business seminar on the new Personal Data Protection law organized by KPMG in Bahrain at the Downtown Rotana. The event helped raise awareness on the new law, and the expectations it sets for individuals and businesses in the Kingdom of Bahrain on the implications of the new regulations on organizations across all sectors; and how they will need to rethink their approach in terms of collecting, storing, using, disclosing and disposing personal information and data of all their stakeholders.
“We are witnessing a paradigm shift where information, data and knowledge are becoming more valuable and important than any asset for any organization. The new global statistics indicate that, globally over 6.1 million records are either lost or stolen every day. The new law is a critical opportunity for organizations and individuals to help foster a ‘Privacy Conscious’ culture within the Kingdom of Bahrain through the enhanced data collection and protection mechanisms. Respecting and protecting people’s personal information and privacy is fundamental to human dignity, and as businesses we have an obligation to uphold this trust to ensure confidence with our stakeholders”, Jeyapriya Partiban, Partner and Head of Risk Consulting at KPMG in Bahrain, commented during event.
Bahrain’s Personal Data Protection law aims to provide a clear framework for companies operating in Bahrain on collecting and processing personal data in line with global best practices. Organizations need to ensure ongoing compliance by meeting expectations to ensure efficient, secure and effective management of data.
“Most of our personal data is currently either digitalized or quite easily available through various social media platforms. With the increase in reliability on technology based advancements, we also face an increasing rate of cyber-attacks or technology based data breaches and losses. This reinforces the need for an increase in awareness and knowledge around cyber security and the crucial role it plays when it comes to protecting data, particularly for organizations handling financial data and personally identifiable sensitive information.” Jeyapriya added.
Kunal Pande, Partner and Head of Financial Services Risk Consulting at KPMG in India, and Logan Simpson, Cyber Security Manager at KPMG in Bahrain, were the keynote speakers during the event, focusing on practical steps which companies should consider in the next few months to ensure future compliance. While organizations will need to evaluate the readiness of their existing systems, infrastructure, and their ability to adapt to relevant future technologies/systems, they will also need to consider reinforcing their first line of defense by training their people on the new regulations, and how they will need to rethink everything they do while the landscape of data governance transitions to ensure future compliance.
The event was held today at the Downtown Rotana hotel under the theme “Data Privacy: As a way of life”. “For more information about KPMG in Bahrain’s events, please contact Khalid Seyadi, senior marketing executive at KPMG in Bahrain, on firstname.lastname@example.org. For more information about Data Protection, please contact Ramesh Gajula on email@example.com
KPMG in Bahrain is a member firm of KPMG International. The firm was established in 1968 as the first national accounting and auditing firm, and it has grown to be one of the largest professional services firms in the country. The firm provides Audit, Tax and Advisory services to a wide array of clients operating in different sectors, utilizing the in-depth technical and industry experience of its professional staff.
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