The agreement was signed by the Chief Executive Officer of Bahrain Bourse, Shaikh Khalifa bin Ebrahim Al-Khalifa and the General Manager of Zain Bahrain Mr. Mohammed Zainalabedin.
According to the agreement, Bahrain Bourse will provide Zain Bahrain with a variety of services that includes maintaining a record of the share register that holds the shares in electronic form, and updating the data of the registry as a result of dealing on the company’s shares in accordance with the rules and regulations of Bahrain Bourse, and other related services.
In addition, Zain Bahrain will provide BHB with electronic reports on the transfer of ownership resulting from executed transactions on the shares of the company as well as the percentage of investors’ holdings, investors’ account statements, and other periodical reports.
Shaikh Khalifa welcomed the joining of Zain Bahrain to the list of companies that BHB provides with a variety of developed services as a share registrar, praising the confidence that Zain Bahrain has put in BHB and at the same time ensuring that the bourse will continue developing its services by investing in its technical infrastructure and training to continue developing BHB’s staff to meet the demands of its clients and listed companies.
The General Manager of Zain Bahrain, Mr. Mohammed Zainalabedin expressed his delightedness for the signing of the agreement with BHB. “The Signing of the agreement with Bahrain Bourse will enhance the commitments of Zain Bahrain that go in line with the principles of corporate governance, and abiding with such high standards in dealing with shareholders is a vital area for the core of our business to maintain the confidence of our current and potential investors,” he said.
By signing this agreement, Zain Bahrain joins the list of listed companies BHB serves as a Share Registrar, including Batelco, Alba, Khaleeji Commercial Bank, Takaful International and United Paper Industries. BHB provides those companies with unique professional registrar services that enable them to receive detailed reports on their shareholders’ dealings at the bourse.
In addition, the Board was briefed on the steps taken by BHB to introduce the “Murabaha” program that will be launched in cooperation with CBB & various Islamic banks and institutions.
The Board also discussed the latest developments concerning BHB’s strategic plan, along with the operational plan and its evaluation criteria and made some recommendations in this regard.
The Board discussed the reports and recommendations of the Board’s Committees and decided on actions to be taken. The Board requested the executive committee to conduct various studies on subjects related to the work at BHB.