Bahrain Bourse Issues Amendments to its Listing Rules

Tuesday, April 6, 2021
As part of Bahrain Bourse’s (“BHB”) continuous efforts to develop the Capital Market in the Kingdom of Bahrain, and in pursuance of Central Bank of Bahrain Resolution No. (11) of 2018 for the implementation of the Self-Regulatory Organization (SRO), Bahrain Bourse issued amendments to the Listing Rules. The enhancements introduced to the rules aim at further strengthening the regulatory oversight.
Shaikh Khalifa bin Ebrahim Al-Khalifa, Chief Executive Officer of Bahrain Bourse commented stating, “The new enhancements aim to ensure further strengthening of the regulatory oversight regime, which is yet another step towards greater market transparency and investor confidence within the capital market in the Kingdom of Bahrain.”
“The enhancements introduced are crucial to ensure continued investor confidence as further administrative powers are imposed on issuers,” Sh. Khalifa added.
The current amendments to the Listing Rules  includes the establishment of the Violations Committee to review and evaluate high-frequency violations and determine penalties to be imposed on listed companies for non-compliance with BHB Business Rules as well as setting the timeframe for settling those violations.
The Listing Rules enhancements also include establishment of a Disciplinary Appeals Committee, to allow listed companies to appeal on violations imposed.
Further, the enhancement to the Listing Rules included new disclosure templates in the Listing Rules Guideline to govern credit rating announcements, dividend distribution timeline, and accumulated losses.