On this occasion, the Chairman of Bahrain Bourse Mr. Yusuf Humood congratulated the wise leadership on this historical achievement that is significant to the Bourse and the capital markets sector in the Kingdom of Bahrain. The achievement reflects the development of the legislative infrastructure of the capital markets sector in the Kingdom and BHB’s compliance to international standards and the internationally adopted regulatory frameworks in this sector. Mr. Humood also thanked the executive management of BHB for their efforts to attain this affiliate membership as well as the other achievements made to enhance the Bourse’s position as one of the investment destinations in the region.
The Chief Executive Officer of Bahrain Bourse, Shaikh Khalifa bin Ebrahim Al-Khalifa expressed his pleasure for BHB’s achievement, and ensured that it is the outcome of the joint efforts and cooperation between Bahrain Bourse and the Central Bank of Bahrain. Shaikh Khalifa also expressed his thanks and gratitude for the support from the officials to attain this affiliate membership.
Shaikh Khalifa clarified that approving Bahrain Bourse’s application for an affiliate of the IOSCO, the premier international body of securities regulators and administrators, acknowledges the commission’s appreciation and support to the Bourse’s efforts and achievements in developing and improving the legislative infrastructure of the capital markets sector in the Kingdom of Bahrain in a way that will enhance the investment environment in this sector.
“We will work to benefit from our affiliate membership of IOSCO in order to continue our cooperative efforts with the officials at the Central Bank of Bahrain with the aim of developing the capital markets sector in the Kingdom of Bahrain and making it more competitive and attractive for regional and international investments. This will support the prosperity of our country’s economy under the wise leadership of His Majesty King Hamad bin Isa Al-Khalifa,” Shaikh Khalifa added.
It is worth mentioning that the International Organization of Securities Commission (IOSCO) is the international body that brings together the world’s securities regulators and is recognized as the global standard setter for the securities sector. IOSCO was created in 1983 and is based in Madrid. It includes 124 ordinary members from institutions and regulatory authorities of financial markets. IOSCO develops, implements and promotes adherence to internationally recognized and consistent standards of regulation, oversight and enforcement in order to protect investors, maintain fair, efficient and transparent markets, and seek to address systemic risks. IOSCO also works to enhance investor protection and promote investor confidence in the integrity of securities markets, through strengthened information exchange and cooperation in enforcement against misconduct and in supervision of markets and market intermediaries.