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Bahrain Bourse

Bahrain Bourse
بورصة البحرين
Type Stock Exchange
Location Bahrain Financial Harbour, Manama, Bahrain
Coordinates
Founded 1987
Key people Yusuf Abdulla Humood (Chairman)
Currency BHD
Website Official website

The Bahrain Stock Exchange (BSE[1]) was established in 1987 by Amiri Decree No.(4) and officially commenced operations on 17 June 1989, with 29 listed companies. It operated as an autonomous institution supervised by an independent Board of Directors, chaired by the Governor of the Central Bank of Bahrain. Bahrain Bourse (BHB) was established as a shareholding company by Law No. 60 for 2010 to replace BSE.[1] As of 2015 50 companies were listed on the exchange. The exchange operates from Sunday to Thursday.[2]

Three indices track the BSE: the Bahrain All Share Index, the Dow Jones Bahrain Index and the Estirad Index.

Contents

  • Foreign ownership of securities 1
  • Taxation 2
  • Practice governing trading and settlement of securities 3
  • Settlement of sales and purchases of securities 4
  • Companies traded on the BSE 5
    • Commercial banks sector 5.1
    • Investment sector 5.2
    • Insurance sector 5.3
    • Services sector 5.4
    • Industrial sector 5.5
    • Hotels & tourism sector 5.6
    • Overseas companies 5.7
  • See also 6
  • References 7
  • External links 8

Foreign ownership of securities

As of 2015 foreigners can purchase, own or sell bonds, units of mutual funds, and warrants of domestic joint-stock companies. Foreigners who reside in Bahrain for one year or more are entitled to purchase, own, and/or trade up to 49% of a domestic joint-stock company’s equities. However, an individual foreigner may not own more than 1% of a company’s issued capital. There are ten companies that are completely open to foreign investors; Arab Banking Corporation (ABC), Arab Insurance Group (ARIG), Ahli United Bank (AUB), Al Baraka Banking Group (BARKA), Bahrain Middle East Bank (BMB), Ithmaar Bank (ITHMR), Investcorp Bank (INVCORP), Bahrain Shamil Bank (SHAMIL), Al Salam Bank (SALAM), and TAIB Bank (TAIB). Foreign security holders are legally entitled to enjoy all the benefits of the ownership of securities of domestic joint-stock companies. They have voting rights on all matters submitted for approval, and receive dividends and other distributions without being subject to taxation .

Taxation

Bahrain has no capital gains or dividend taxes on both foreigners and nationals.

Practice governing trading and settlement of securities

Securities listed on the Exchange, with certain exceptions, must be traded on the floor through registered brokers. The specific standards of due care and diligence, which are needed in the execution of transactions and in the safeguarding of customers' funds and securities, are imposed under the terms of the BSE's laws and by-laws which are adhered to by the brokers and dealers.

Settlement of sales and purchases of securities

Settlement and transfer of ownership of domestic joint stock securities is undertaken through the Exchange in accordance with simple and straightforward procedures. The sale and purchase of a security creates a binding contract on the part of the seller to deliver the security and on the part of the purchaser to make payment on the settlement date, i.e. within two days after the trading date, (T + 2). The BSE management is continuously monitoring and reviewing the Exchange’s existing laws and procedures in an effort to further develop and enhance its contribution to the economy of Bahrain.

Companies traded on the BSE

Commercial banks sector

Stock symbol Company Notes
AUB Al-Ahli United Bank
AUB.PREF.A AUB Class A Preference Share
SALAM Al Salam Bank
BISB Bahrain Islamic Bank
BBK Bank of Bahrain and Kuwait
NBB National Bank of Bahrain
BSB The Bahraini Saudi Bank

Investment sector

Stock symbol Company Notes
BARKA Al Baraka Banking Group
INOVEST Inovest
ABC Arab Banking Corporation
BCFC Bahrain Commercial Facilities
BMB Bahrain Middle East Bank
ESTERAD Esterad Investment Company
GFH Gulf Finance House
GMG Gulf Monetary Group
INVCORP Investcorp Bank
ITHMR Ithmaar Bank
TAIB TAIB Bank
UGB United Gulf Bank
UGIC United Gulf Industries Corporation
SICO-C Securities and Investment Company

Insurance sector

Stock symbol Company Notes
BKIC Bahrain & Kuwait Insurance Company
AHLIA Al-Ahlia Insurance Company
AIIC Arab International Insurance Company
TAKAFUL Takaful International Company
ARIG Arab Insurance Group
BNH Bahrain National Holding Company

Services sector

Stock symbol Company Notes
BASREC Bahrain Ship Repairing & Engineering Company
CPARK Bahrain Car Park Company
CINEMA Bahrain Cinema Company
DUTYF Bahrain Duty Free Shop Complex
BMMI Bahrain Maritime & Mercantile International
BATELCO Bahrain Telecommunications
TRAFCO General Trading & Food Processing Company
Nass Nass Corporation

Industrial sector

Stock symbol Company Notes
ALBH Aluminium Bahrain
BFM Bahrain Flour Mills Company
POLTRY Delmon Poultry Company

Hotels & tourism sector

Stock symbol Company Notes
FAMILY Bahrain Family Leisure Company
BHOTEL Bahrain Hotels Company
BTC Bahrain Tourism Company
SEEF Seef Properties B.S.C.
BANADER Banader Hotels Company
NHOTEL National Hotels Company

Overseas companies

Stock symbol Company Notes
BMUSC Bank Muscat
GLOBAL Global Investment House
IIG International Investment Group
SDTL Sudan Telecommunications Company
UFC United Finance Company

See also

References

  1. ^ a b Bahrain Bourse Web site: History
  2. ^ Market Hours, Bahrain Stock Exchange via Wikinvest
  • Kingdom of Bahrain, Ministry of Labour Unemployment Insurance System. Retrieved 6 November 2007.

External links

  • Official site of the Bahrain Stock Exchange
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