Bahrain Bourse Re-Elected as Board Members of the Arab Federation of Capital Markets

Monday, November 7, 2022
Bahrain Bourse participated in the meeting of the General Assembly of the Arab Federation of Capital Markets (AFCM), with the attendance of the Chief Executive Officer of Bahrain Bourse, Sh. Khalifa bin Ebrahim Al-Khalifa along with various CEOs of stock exchanges and Arab clearing and depository companies.

During the meeting, Bahrain Bourse was re-elected by the consensus of the members, as members of the Federation’s Board of Directors, and Saudi Exchange (Tadawul)  representing the Arab Gulf Region.  Amman Stock Exchange and Iraq Stock Exchange were elected to represent the Levant region, and The Egyptian Exchange and Tunis Stock Exchange to represent the Arab African countries.  Misr for Central Clearing, Depository and Registry (MCDR) and The Securities Depository Center Company (Edaa) were elected to represent Arab clearing houses. In addition, Damascus Securities Exchange, Dubai Gold & Commodities Exchange, and the Khartoum Stock Exchange were elected as members of the Audit and Governance Committee.

Sh. Khalifa bin Ebrahim Al-Khalifa, Chief Executive Officer of Bahrain Bourse said, “We are pleased to be re-elected as a member in the Arab Federation of Capital Markets Board of Directors to represent the Gulf Region. Bahrain Bourse is keen to support the development of the capital markets sector by actively participating in regional and international federations. As an active member in the AFCM, we look forward to enhance the investment environment by promoting the various investment opportunities available in the region.”

It is worth mentioning that Bahrain Bourse has been elected in 2020 along with the Saudi Stock Exchange (Tadawul) as members of the Federation’s Board of Directors, representing the Arab Gulf Region, and has been chairing the Federation since March 2022. During its chairmanship, Bahrain Bourse hosted the AFCM Annual Conference titled ‘’AFCM Annual Conference: Bahrain 2022’’ under the patronage of His Excellency Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy on the 29th and 30th of March 2022.

The AFCM was established in June 1978 to be the guiding body for the Arab stock exchanges, under the recommendation of the Arab Central Banks Conference, held under the auspices of the General Secretariat of the League of Arab States in the Hashemite Kingdom of Jordan. The Federation aims to create a transparent environment for the Arab capital markets, develop market members and reduce the barriers of security trading across the countries through establishing harmony across the laws and regulations of the Arab countries, adopting new technologies and advanced trading and clearing settlements. The federation currently has 24 members representing around 17 stock exchanges and 7 clearing companies, in addition to a number of brokerage companies in the Arab region.