Bahrain Bourse 2.92

The Bahrain Stock Exchange was established in 1987 by Amiri Decree No. 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 was established as a shareholding company by Law No. 60 for 2010 to replace BSE. 42 companies were listed on the exchange. The exchange operates from Sunday to Thursday.Three indices track the Bahrain Bourse : the Bahrain All Share Index, the Dow Jones Bahrain Index and the Estirad Index.Foreign ownership of securitiesforeigners 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.