BHBNewsLetter March 2020

5 / 11

5
Issue 23 - MARCH 2020
BAHRAIN CLEAR ANNOUNCES OFFERING OF VIRTUAL AGM MANAGEMENT
SERVICE FOR LISTED COMPANIES
BAHRAIN BOURSE ANNOUNCES TEMPORARY CLOSURE OF ITS TRADING FLOOR AS
PREVENTATIVE MEASURE WITH TRADING ACTIVITY CONTINUING AS USUAL
As part of Bahrain Clear’s ongoing
efforts to further enhance
post-trade services and in line with
Bahrain Clear’s role to enhance
capital markets infrastructure
with the overall aim of protecting
clients’ securities transactions,
Bahrain Clear announced the
offer ing of Vir tua l AGM
Management Service for listed
companies. Bahrain Clear aims
to offer various digital solutions
including the Virtual AGM
management service to listed
companies within its efforts to
provide added-value services, as
this innovative service aims at
facilitating the accessibility
to investors and enhancing
participation in AGMs via virtual
platforms. The Virtual AGM
management service has been
offered based on the Ministry
of Industry, Commerce, and
Tourism’s res olution (No.
26 for the year 2020) and
based on the Central Bank of
Bahrain’s circular (OG/108/2020)
issued on 19 March 2020.
The Virtual AGM management
service has been provided as a
result of Bahrain Clear & Bahrain
Bourse’s vision to undertake
various precautionary measures in
line with the current international
health scenario and activation of
business continuity management
to fully support investors and
issuers and all related stakeholders.
As part of the efforts of Bahrain’s
government entities to combat the
spread of Corona Virus (COVID
19), Bahrain Bourse announced
temporary closure of its trading
floor to the public as a preventative
measure effective Thursday 19th
March and until further notice.
Bahrain Bourse & Bahrain Clear
consider the health and safety of its
employees, investors and business
partners as one of its top priorities.
Hence, several precautionary
measures have been instated.
The temporary closure of the
Trading Floor will not impact
affect the trading activity as it
continues as usual. Bahrain Bourse
offers various trading channels,
traditional via authorized brokers
and digital via Bahrain Trade p
articipating financial institutions.
Investors will also be able to
process payment and settlement
of fees online via Fawateer
platform. Investors will also
be able to track the market via
Bahrain Bourse website, Bahrain
Bourse Mobile App, and view
their statement via eServices.
Bahrain Bourse would like to
assure all stakeholders that we
are fully prepared, with a robust
Business Continuity Plan (BCP) in
place which encompasses several
measures to ensure continuity
of key business functions
a p p r o p r i a t e l y w i t h o u t
disruption. We are following
guidance from international and
local health authorities including
World Health Organization
(WHO), Ministry of Health,
Supreme Council of Health.