Sat   21 Apr 2018   Search
Bahrain Clear established to attract more investments
02 : 41 PM - 17/07/2017

Manama, July 17 (BNA): Bahrain Bourse (BHB) today held the official opening ceremony of Bahrain Clear at the Bourse’s premises in the presence of the Minister of Industry, Commerce, and Tourism and the Minister-In-Charge of Bahrain Bourse Zayed bin Rashid Alzayani and the Governor of the Central Bank of Bahrain Rasheed Mohammed Al Maraj along with the Chairman and Board Members of Bahrain Bourse and Bahrain Clear, officials from listed companies, and licensed brokers.

On this occasion, Abdulkareem Ahmed Bucheery, Chairman of Bahrain Bourse and Chairman of Bahrain Clear expressed his pleasure for the inauguration of Bahrain Clear that has been recently been licensed by the Central Bank of Bahrain. He said that the inauguration of the company marks a milestone in the history of the capital markets sector in the Kingdom of Bahrain, and is expected to attract more local and regional investments to contribute to enhancing investors’ confidence in this sector, as well as aid in enhancing Bahrain’s capital market rating by international indices providers.

"The establishment of Bahrain Clear is the outcome of the collective efforts of Bahrain Bourse’s officials along with the cooperation and support received from the Central Bank of Bahrain during the past couple of years. This achievement comes in line with the efforts of the Bourse to complete the implementation of its strategic plan aimed at developing various aspects of work, providing services in accordance with the international standards, and complying with the requirements of the Central Bank of Bahrain," he also said.

"The establishment of Bahrain Clear will allow the company to enhance the quality and quantity of its services, and will provide greater flexibility for the company to meet the expectations and needs of the company's clients including issuers of securities, investors, institutions, custodians and others," he added.

Shaikh Khalifa bin Ibrahim Al Khalifa, Chief Executive Officer of Bahrain Bourse and the Managing Director of Bahrain Clear said, "We are happy to establish Bahrain Clear which will be independently responsible for clearing, settlement and central depository services.

"This will allow the company to develop its current services and provide new services that are in line with international standards. One of the main objectives of Bahrain Clear is to enhance and diversify the post trade services and provide services that are in line with those applied in the advanced markets," Shaikh Khalifa added.

It is worth mentioning that Bahrain Clear is a fully owned subsidiary of Bahrain Bourse with a disclosed capital of BD 5 million and a paid up capital of BD 1 million.


BNA 1128 GMT 2017/07/17

Number of readings : 4003        Last updated : 02 : 41 PM - 17/07/2017