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Issue 24 - JUNE 2020





In line with Bahrain Clear’s

ongoing efforts to further

enhance post-trade services,

Bahrain Clear announces its

appointment as Paying Agent to

und e r t a ke c a s h d i v i d end

distribution for nine listed

c omp an i e s s e r v i ng mo r e

First Abu Dhabi Bank (FAB), the

UAE’s largest bank and one of the

world’s largest and safest financial

institutions, recently signed a

Depository Agent (Custodian)

Agreement with Bahrain Clear

In line with Bahrain Clear’s

efforts to adopt the latest financial

technology in order to enhance its

services, Bahrain Clear announces

the launch of a cloud-based queue

than 170,000 shareholders

representing 100 nationalities.

This initiatives comes as part of

Bahrain Clear’s role to enhance

capital markets infrastructure,

with the overall aim of protecting

clients’ securities transactions.

Bahrain Clear manages the cash

to offer custody services at

Bahrain Bourse to regional and

international investors. The

agreement is in line with Bahrain

Clear’s efforts to enhance post-trade

services and expand outreach

management system, Skiplino,

allowing investors to pre-book

online appointments via smart

phones. By utilizing this service,

investors will be able to digitally

dividend distributions cycle

end-to-end to ensure successful

completion. Further, Bahrain

Clear offers a number of payment

methods for cash dividend

distribution which includes IBAN

Transfers directly into client’s

designated bank account, myShare

Card, and cheque payments.

Bahrain Clear continuously

ensures that all shareholders KYC

information is up to date in order

to facilitate the swift distribution

of current dividends as well as

any past unclaimed dividends.

Shareholders with updated KYC

information will also be able to

to regional and global investors.

There are currently five securities

custodians admitted by Bahrain

Clear to act in the market, four

of which are global custodians,

following the registration of FAB.

According to the agreement,

FAB will provide custody, issuer

and transfer agent services, fund

administration and other related

banking services to its regional

and international clients. Abdulla

Jaffar Abdin, Senior Director

pre-book appointments at a

specific time and date, hence,

providing convenience and reducing

the queuing time. The solution

considers the investor’s current

location and associated travel time,

as well as any anticipated traffic

delays and adjusts the appointment

time accordingly to minimize the

investors waiting time. This service

is available through Skiplino app

on both iOS and Android devices.

It is worth noting that Bahrain

Clear is a fully owned subsidiary

access the e-Services available

to view their current portfolio.

Bahr ai n C l e ar’s cl e ar i ng ,

settlement, Central Depository

and Registry infrastructure

i s c u r r e n t l y und e r g o i ng

changes to increase efficiency and

provide more advanced post-trade

services including enhancement

to the Delivery Versus Payment

(DVP) Model Fr amework

a d o p t e d i n o r d e r t o

e n s u r e a d h e r e n c e t o

international standards as

recommended by IOSCO.

of Operations at Bahrain Clear,

said: “We are delighted to have

First Abu Dhabi Bank on board

as a custodian, which will provide

their regional and international

investor-base with access to

Bahrain’s capital market. We

look forward to working closely

with FAB’s Securities Services

team for post-trade services

to deliver creative custody

solutions to their global client-base.”

of Bahrain Bourse with a

disclosed capital of 5 million

Bahraini Dinars, and a paid-

up capital of 1 million Bahraini

Dinars. Bahrain Clear is licensed

by the Central Bank of Bahrain

as a ‘Clearing House and Central

Depository’ offering post-trade

services to investors. Bahrain Clear’s

service offering includes related

services of securities transactions

depository, clearing, settlement,

central registry and registration.