BDO Consulting an authorized Sponsor on Bahrain Investment Market

Wednesday, May 31, 2017

Bahrain Bourse (BHB) authorized the appointment of BDO Consulting as a specialized advisory firm (sponsor) operating within the Bahrain Investment Market (BIM), an equity market for growing business ventures in Bahrain and the wider MENA region. The agreement was signed by the Bahrain Bourse Chief Executive Shaikh Khalifa bin Ebrahim Al Khalifa and BDO Chairman Mr. Jawad Habib in the presence of BDO Bahrain CEO Mr. Ali Jawad and Partner, Mr. Arshad Gadit.

Bahrain Investment Market (BIM), which was officially launched in March 2017 by the Bahrain Bourse, features relaxed admission requirements and reduced financial disclosure rules, access to global investors, guidance services through specialized advisory firms, and many other benefits.

The agreement with BDO Consulting has added one more key partner to the cornerstone of support that BIM offers businesses and enterprise investors looking to establish and grow their presence in the region. In addition to access to capital, listed companies will benefit from specialized advisory services in multiple sectors and the implementation of globally accepted standards for financial auditing and reporting statements as mandated by the BIM.  Specialized advisory firms play an advisory role to all new clients helping to ensure all pre-listing requirements and post-listing documentation and disclosures are continuously met.

Established in 1980, BDO Consulting is a member of BDO International Limited and forms part of the international BDO network. BDO's global network extends across 158 countries, with over 67,000 people working out of more than 1,400 offices. BDO Consulting is led by 7 partners with a multi-sector focus.

Bahrain Investment Market’s partnership with BDO Consulting follows similar tie-ups earlier this year with well-known specialized advisory firms, KPMG and Keypoint. The increasing network of authorized specialized advisory firms that BIM is partnering with have significantly enhanced the options available for prospective companies interested in listing on Bahrain Bourse. For the specialized advisory firms, the benefits include being associated and authorized by a licensed exchange, as well as access to dynamic companies.

It is relevant to note that in the last year Foreign Direct Investment in Bahrain doubled as the country secured a total of USD 281 million of foreign investment from 40 new companies. Bahrain Bourse has seen trading volumes increase by 42% between 2015 and 2016, reflecting a real need for such a market.

Bahrain Bourse Chief Executive Shaikh Khalifa bin Ebrahim Al Khalifa noted, “A diverse and supportive ecosystem is not only essential for driving private sector growth, but also an important determining factor for foreign investors when considering where to invest. The partnership with BDO Consulting provides additional multi-sector support and advisory services that will encourage and enable investment opportunities for companies and investors from around the world.”

BDO Chairman Mr. Jawad Habib said, “As one of the world's largest accounting and consulting networks, with a team that is drawn from a variety of multi-disciplinary backgrounds, BDO has helped a diverse clientele with a range of needs. We are looking forward to using our international expertise and network with our local presence to provide support and key advisory services for companies wishing to be listed within the BIM. With our capabilities, we offer distinctively different relationships and show results regardless of any challenges within the economic environment.”

Companies interested in listing on BIM and specialized professional advisory firms interested in becoming authorized by the Bahrain Bourse may contact the dedicated Help Desk by calling (+973) 17 261260 or emailing [email protected]