BHBNewsLetter JUNE2017

Issue 12 - JUNE 2017

www.bahrainbourse.com

BAHRAIN BOURSE LISTS 11 TREASURY BILL ISSUES AND SHORT-TERM ISLAMIC LEASE

(IJARAH) SUKUK WORTH BD767 MILLION

Bahrain Bourse (BHB) announced

on Thursday, 8th June 2017 the

listing of 11 issues in the Trea-

sury Bills Market worth a total

of BD767 million, issued by the

Central Bank of Bahrain with

discount rates ranging between

2.17% and 2.98% for 3-12 months.

With the listing of those issues,

the total number of Treasury Bills

and Short-Term Islamic Lease

The Board of Directors of Bah-

rain Bourse (BHB) held its

third meeting for the year 2017

on Thursday, 15

June 2017

chaired by Mr. Abdulkareem

Ahmed Bucheery, Chairman

of the Bourse where the topics

on the agenda were discussed.

The Board discussed the strate-

gic review of BHB’s operational

plan for 2017 including the latest

developments of Bahrain Bourse

during the past couple of months

which were presented by the Chief

Executive Officer of the Bourse.

The presentation outlined the

major achievements of Bahrain

Bourse during 2017 such as the

launch of the Bahrain Investment

Market “BIM” and BHB’s signing

with three consultancy companies

“sponsors” to receive and study the

listing applications in this market.

In addition, 12 awareness work-

(Ijarah) Sukuk listed at Bahrain

Bourse became 23 issues with

a total value of BD1.49 billion.

The bourse launched the Trea-

sury Bills Market on 31st January

2016 with the aim of enhanc-

ing cash liquidity in local and

foreign banks and institutions

dealing in this market, and pro-

viding investors in BHB with

more investment opportunities.

BHB’S BOARD APPROVES THE FINANCIAL RESULTS FOR THE FIRST QUARTER AND

DISCUSSES THE PROCEDURES OF SEGREGATING BAHRAIN CLEAR FROM

BAHRAIN BOURSE

shops were conducted in coopera-

tion with related parties including

societies and associations such as

Bahrain Chamber of Commerce &

Industry, Bahrain Businessmen’s

Association, Bahrain Business-

women’s Society, Bahrain Family

Business Association, International

Advertising Association, Bahrain

Association of Banks, Bahrain

Property Developers Association

along with other societies and as-

sociations. The workshops were at-

tended by more than 1250 persons.

Besides the BIM, the majority of

the listed shareholding companies

assigned Bahrain Bourse as a reg-

istrar for its shares. The Market

Making Guidelines were issued,

and accordingly “Mubasher” was

approved as a Market Maker at

Bahrain Bourse. In addition, a co-

operation agreement was signed

with Flat6Labs aiming at develop-

ing an entrepreneurship culture

and raising awareness on Bah-

rain Investment Market. Bahrain

Bourse also organized a seminar

on the implementation of Val-

ue Added Taxes in the Kingdom

of Bahrain that was attended by

more than 75 representatives from

listed shareholding companies.

Moreover, Bahrain Bourse signed a

cooperation agreement with BIBF

to launch a new Trading Course

aimed at promoting trading skills

among Bahrainis in order to en-

courage and prepare them to enter

the Investment and Trading field.

In addition both parties agreed

to jointly organize free of charge

awareness workshops and training

sessions in which the public can

July next month. BHB successful-

ly organized the meetings of the

TradeQuest Program and conclud-

ed it with an Awards Ceremony

for the Government and Private

Schools where 20 Government and

Private Schools participated in the

program along with 7 universities.

The Board was updated on the

latest developments on the “Bah-

rain Trade” Project that Bahrain

Bourse intends to launch during

the last quarter of 2017, and also

was briefed on the legislative

and technical procedures un-

dertaken by the Executive Com-

mittee to achieve this project.

In addition, the Board reviewed

Bahrain Clear’s Board decisions

concerning the official announce-

ment of the commencement of

Bahrain Clear’s operations follow-

ing the licensing of the company

by the Central Bank of Bahrain.

The Board discussed the steps

taken to transfer the employ-

ees of the company with their

full rights and benefits and the

mechanism of segregating the

assets of the new company from

Bahrain Bourse’s assets in a way

that meets the legal, administra-

tive, and financial requirements.

During the meeting, the Board

approved BHB’s financial re-

sults for the period ended 31

March 2017, and reviewed the

decisions and recommendations

of the Board’s Committees and

decided on actions to be taken.