BIM to enhance competitiveness

Manama : Family businesses remain a significant contributor to Arab economies non-oil GDP, with the segment contributing to around 95 per cent of all private sector business in Bahrain, it was revealed yesterday.  

Bahrain Bourse (BHB), quoting a recent report, said this during a presentation held on its newly launched Bahrain Investment Market (BIM) for members of the Bahrain Family Business Association (BFBA) and Bahrain Businessmen’s Association (BBMA).

BIM, according to BHB, is an equity market for growing business ventures in Bahrain and the wider MENA region. BIM, a dedicated Tamkeen support programme, was launched in March 2017. Features include: Easier admission and financial disclosure rules, access to global investors and guidance services through specialised professional advisory firms among other benefits.

Commenting on the benefits of BIM, CEO of the Bahrain Bourse, Shaikh Khalifa bin Ebrahim Al Khalifa said, “Family businesses and fast-growing entrepreneurial ventures stand to benefit greatly from the Bahrain Investment Market. Its model is designed to enable business owners to raise capital quickly and at a relatively low cost while remaining largely in control of management and decision-making processes.”

President of the BFBA Khalid Kanoo said, “Family businesses are strategically important to the national economy. Hence, it is critical to have initiatives such the Bahrain Investment Market which enable these businesses to enhance their corporate governance and scale up their operations in order to become more competitive in today’s globalized economy.”

For his part, Chairman of the BBMA Ahmed bin Hindi noted, “One of the major factors which contribute to private sector growth is access to a wide range of financing sources that cater to a wide range of private sector segments. The Bahrain Investment Market is a welcome addition that will help fill an important financing gap for companies who want to publicly list but are not yet able to meet the Bahrain Bourse Mainboard’s criteria.”