All clear for ‘Bahrain Clear’
Manama : The Board of Directors of Bahrain Bourse (BHB) issued a resolution to establish Bahrain Clear Company with an issued capital of BD5 million and paid-up capital of BD1m.
Bahrain Clear will provide services in the areas of settlement, depository of securities, custodians, and other services to companies, investors, and other related parties.
The board also nominated the members and executive management of the company.
The decision was taken during the second meeting for the year 2017 held on 22nd February 2017 chaired by Abdulkareem Ahmed Bucheeri, Chairman of the Bourse.
During the meeting, the board also approved BHB’s financial results for the year ended 31 December 2016 as well as the recommendation to the shareholder to re-appoint the Auditor.
Discussions focused on the topics on the agenda including the latest developments at Bahrain Bourse, where the strategic review of BHB’s operational plan for 2016 was presented by the Chief Executive Officer of the Bourse, Shaikh Khalifa bin Ebrahim Al-Khalifa.
Furthermore, the board approved the Listing Rules in order to enhance the role of BHB as a Self-Regulatory Organization (SRO) by expanding its legislative and supervisory authorities in aspects related to listing, disclosure, and investors’ protection as well as the obligations of issuers of securities.
BHB’s strategic plan for 2016-2020 was briefed on the occasion by the Chief Executive Officer of the Bourse, Shaikh Khalifa bin Ebrahim Al-Khalifa, as the board agreed to focus on key actions that go in line with BHB’s vision.
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