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Issue 24 - JUNE 2020
www.bahrainbourse.comBAHRAIN BOURSE LAUNCHES MURABAHA SERVICE (CONTINUED)
The Mur abaha s er v ice is
provided through the utilization
of Sharia’a-compliant Ijara Sukuk,
as the underlying asset for all
the Murabaha transactions. An
online service offering unique
advantages to financial institutions
Bahrain Clear has been delegat-
ed as asset manager of the funds,
as well as ensure appropriate
investor protection mechanisms
are in place, maintain KYC
registry, ensure establishment
of internal audit policies, review
a n d c l i e n t s s e e k i n g
Sharia’a-compliant solutions and
trading opportunities, will be
used for facilitating Ijara Sukuk-
based Murabaha transactions.
The Murabaha service aims to
provide significant reductions in
and approve audited statements
of the funds, submit appropriate
regular reporting to the Board
of Directors of Bahrain Bourse
on the results of the funds.
In addition, Bahrain Bourse
may discretionally impose
processing time for its participants,
and is playing a growing role in
the expansion and position of
the Kingdom of Bahrain as the
g l o b a l c a p i t a l o f t h e
Islamic economy. It is worth
mentioning that Al Baraka Islamic
administrative fines on Issuers
for any non-compliance with the
new procedures with an amount
not exceeding 1% above Cen-
tral Bank of Bahrain interest
rates. To ensure transparency, the
‘Accumulated Cash Dividends
Bank, Bahrain Islamic Bank
and National Bank of Bahrain,
signed agreements with Bahrain
Bourse and the Central Bank of
Bahrian allowing the Banks to
buy and sell Shariah-complaint
Ijara Sukuk through Bahrain Bourse.
Fund’ and the ‘Annual Cash
Dividends Fund’ deposits shall be
segregated into an independent
account and shall be subject to an
independent audited statement.
BAHRAIN BOURSE ESTABLISHES ‘AMANAT’ INVESTOR
PROTECTION FUNDS PROGRAM (CONTINUED)