Bahrain Stock Exchange
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The Bahrain Stock Exchange (BSE), was established in 1987 by Amiri Decree No.(4) and officially commenced operations on June 17, 1989 with twenty-nine companies listed on the Exchange. The BSE operates as an autonomous institution supervised by an independent Board of Directors, chaired by the Minister of Commerce.
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[edit] A. Foreign Ownership of Securities
Currently, 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 24% 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 seven companies that are completely open to foreign investors; Arab Banking Corporation (ABC), Investcorp, Bahrain International Bank (BIB), TAIB Bank, Faysal Islamic Bank Arab Insurance Group and Bahrain Middle East Bank. 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 .
[edit] B. Taxation & Withholding Tax
Bahrain continues to offer a tax-free environment, characterized by the total absence of corporate and personal taxation.
[edit] C. 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.
[edit] D. 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 straight-forward 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.
[edit] E. Companies Traded on the BSE
[edit] Commercial Banks Sector
- National Bank of Bahrain NBB
- Bank of Bahrain & Kuwait BBK
- Al-Ahli United Bank AUB
- Bahrain Islamic Bank BISB
- The Bahraini Saudi Bank BSB
[edit] Investment Sector
- Gulf Monetary Group GMG
- Arab Banking Corporation ABC
- United Gulf Bank UGB
- Bahrain International Bank BIB
- Investcorp Bank INVCORP
- Bahrain Middle East Bank BMB
- Bahrain Commercial Facilities BCFC
- United Gulf Industries Corporation UGIC
- TAIB Bank TAIB
- Shamil Bank of Bahrain SHAMILBK
[edit] Insurance Sector
- Bahrain & Kuwait Insurance Co. BKIC
- Al-Ahlia Insurance Co. AHLIA
- Arab International Insurance Co. AIIC
- Takaful International Company TAKAFUL
- Arab Insurance Group ARIG
- Bahrain National Holding Co. BNH
[edit] Services Sector
- Bahrain Ship Repairing & Eng. Co. BASREC
- Bahrain Cinema Co. CINEMA
- National Import & Export Co. ESTERAD
- General Trading & Food Processing Co. TRAFCO
- Bahrain Maritime & Mercantile Int. Co. BMMI
- Bahrain Telecommunications Co. BATELCO
- Bahrain Car Parks Co. CPARK
- Bahrain Duty Free Shop Complex DUTYF
[edit] Industrial Sector
- Bahrain Flour Mills Co. BFM
- Bahrain Light Industries Co. BLICO
- Delmon Poultry Co. POLTRY
- Hotels & Tourism Sector
- Bahrain Hotels Co. BHOTEL
- National Hotels Co. NHOTEL
- Bahrain Tourism Co. BTC
- Bahrain Family Leisure Co. FAMILY
[edit] Overseas Companies
- Commercial Bank of Oman CBO
- International Investment Group IIG
- Oman Int'l Development Co. OID
- Sudan Telecommunications Co. SUDATEL
- The International Investor TII
- Qatar Telecommunication Co.
[edit] See also
[edit] External links
[edit] Recommendations By a Researcher
for next 6-8 months Direction and Target---------KaL
Index Sell 2000 ahlia Buy 0.48 arig Buy 1.34 AUB Sell 0.86 Banader Sell 0.033 Baraka Buy 3 Batelco Sell 0.72 BBK Sell 0.6 BCFC Buy 0.8 BHC Sell 0.37 BISB Sell 0.4 BKIC Sell 0.46 BMB Sell 0.08 BMMI Buy 1.2 BNH Sell 0.27 BSB Sell 1.2 BTC Sell 0.3 CINEMA Buy 1.34 CPARK Sell 0.16 DutyF Buy 1.7 Esterad Buy 0.9 GFH Buy 4 Global Buy 4.2 NBB Sell 0.7 Q-Tel Sell 53 Shamel Sell 1.6 Tamreek Buy 1.75 Trafco Buy 0.42 UGIC Buy 0.24
