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Issue 13 - SEPTEMBER 2017
www.bahrainbourse.comINAUGURATION OF BAHRAIN CLEAR (CONTINUED)
It is worth mentioning that Bah-
rain Clear is a fully owned sub-
sidiary of Bahrain Bourse with
a disclosed capital of 5 million
Dinars, and a paid up capital of 1
million Dinars. The Board of Di-
rectors of Bahrain Clear is head-
ed by Mr. Abdulkareem Ahmed
Bucheery, whereas Shaikh Khalifa
Bin Ibrahim Al Khalifa is the Vice
Chairman and Mr. Yaser Abduljalil
Alsharifi, Mr. Mohammed Khalid
Hamed, Mrs. Narjes Farookh Ja-
mal, and Mr. Mahmoud Abdulaziz
Al Meer are board members.
Bahrain Clear will undertake a
range of activities, including the
establishment, management and
operation of systems for the depos-
it, clearing and settlement of secu-
rities transactions and derivatives,
managing shareholder records di-
rectly, in addition to custodian ac-
tivities and providing all advisory
and technical services in the field of
depository, clearing and settlement.
Bahrain Clear will also undertake
the related services of transactions
depository, clearing, settlement,
central registry and registration.
In addition, Bahrain Clear will
handle the support for these ac-
tivities including opening an in-
vestor number for individuals
and companies with brokers, the
deposit of listed and other com-
panies’ securities, the conversion
of securities between the brokers’
accounts, transfer of ownership
of these securities, settlement
and registration of ownership.
Bahrain Clear will be responsible
of pledging and freezing the shares
of listed and non-listed companies,
managing the shareholders share-
book of the listed companies and
registering members to the Central
Depository System for the purpose
of trading as well as providing se-
curities services to the custodian.
In addition, Bahrain Clear will
provide services of companies’
corporate actions including bonus
shares, stocks split and stock merg-
ers and acquisition in addition to
increment and reduction of capital.
Bahrain Clear will expand the ser-
vices of the Central Registry to in-
clude the distribution of cash divi-
dends directly to the bank accounts
of shareholders in listed and other
companies, and manage the meet-
ings of general assemblies of list-
ed companies, including e-voting.
Bahrain Clear will also undertake
lending and borrowing in securities
and short selling and support ser-
vices to the margin trading service.
Bahrain Clear services will also
include providing mutual funds
services that include information
related to mutual funds, providing
custodian services to Bahraini in-
vestors in other Capital Markets
and exchanges, and allowing Bah-
raini commercial banks to mediate
for transactions execution on se-
curities and financial instruments
listed on the Bourse. This will en-
hance the confidence and credibil-
ity of the Bourse among all parties
involved in the market operations.