The CEO of Bahrain Bourse, Shaikh Khalifa bin Ebrahim Al-Khalifa said, “BHB’s initiative of applying the electronic registry to prove ownership, trade and settle securities goes in line with BHB’s various initiatives in the legislative and technical side and its efforts in cooperating with related parties to develop the investment environment in securities at the Bourse by benefiting from the facilities provided by technology and applying best practices.”
Shaikh Khalifa clarified that the transfer to the electronic registry will open up door to the Bourse for integration and interconnection with the GCC and global exchanges, and will also contribute to offering more opportunities to the citizens to invest in the Bahraini Shareholding Companies.
Shaikh Khalifa praised the companies that responded to the Bourse’s initiative and their efforts to transfer share certificates (paper) to the electronic registry of the Bourse which will open up the door for investors to benefit from various advantages provided by the electronic registry whether it is for safe-keeping securities or speeding the transfer of shares between financial markets and benefiting from the investment opportunities in those markets along with the reasonable cost that investors will bear by transferring their shares from paper to electronic registry.
Shaikh Khalifa revealed that BHB intends to launch more electronic services that will enable issuers of securities and investors to benefit from those services via a specialized electronic platform on its website.
Shaikh Khalifa assured that the Bourse has been working closely in cooperation with the Central Bank of Bahrain and related institutions in the Kingdom of Bahrain along with the listed shareholding companies in order to undertake all the procedures and steps to enhance the competitiveness of the Capital Markets Sector in general and the Bourse in particular with the aim of attracting more investments to this vibrant market in a way that will increase its contribution to the total GDP.
It is worth mentioning that the Chairman of the Bourse issued in November 2015 Resolution No. (5) that requires all listed shareholding companies on the Bourse to take the necessary procedures to amend their status in line with the amendments stated in the resolution, which includes registering and depositing the issued shares in the Clearing, Settlement, Central Depository & Registry System in the Bourse, provided that the establishment and management of the shareholders’ record in the company is in line with the electronic registry system licensed by the Central Bank of Bahrain and approved by the Bourse.