GCC Equity Market’s Performance
Global equity markets delivered healthy gains for the second consecutive year in 2024, with the MSCI World Index increasing by 17%. This growth reflected strong performances across major markets despite late-year volatility tied to interest rate uncertainties and geopolitical developments. In contrast, GCC equity markets experienced modest gains, with the MSCI GCC Index rising by just 0.7%, underscoring the region's underperformance amid unique challenges and broader global pressures.
Bahrain Bourse’s Market Performance
Bahrain Bourse demonstrated resilience amidst modest GCC market performance in 2024, with the Bahrain All Share Index demonstrating a modest increase of 0.73% year-on-year to close at 1,985.91 points. Trading activity witnessed notable growth, with the value of shares traded surging by 52.11% to BD 319.80 million, and the volume of shares traded nearly doubling, increasing by 90.07% to reach 1.48 billion shares. However, the total number of transactions slightly declined by 4.04% compared to the previous year, totaling 17,014 transactions. These results reflect growing investor confidence in Bahrain's capital markets amidst regional and global challenges.
Listings
In 2024, Bahrain Bourse continued to enhance its market offerings, with the listing of significant new entities, reinforcing the Kingdom’s commitment to economic diversification. Hope Ventures Holding BSC (c), the investment arm of Hope Fund, marked its debut on the Bahrain Investment Market (BIM). Designed for fast-growing companies seeking growth capital, BIM welcomed Hope Ventures under the trading symbol 'HOPE,' underscoring its role in providing a key platform for fast-growing companies.
Additionally, AlAbraaj Restaurants Group B.S.C. joined Bahrain Bourse under the trading symbol 'ABRAAJ,' further diversifying the exchange’s portfolio. Listed under the Consumer Discretionary sector, AlAbraaj’s inclusion brings new opportunities for investors in the F&B industry.
As part of its ongoing commitment to the development of Bahrain’s capital market, Bahrain Bourse introduced the Listing Incentives Program on the 1st of October 2024. This initiative, aligned with the Financial Services Sector Development Strategy (2022-2026) and Bahrain Economic Vision 2030, is designed to encourage private companies to list their shares and contribute to the continued growth of the national economy. The five-year program offers reduced fees for companies listing on the Mainboard, as well as full exemption from annual subscription fees for the first two years for those listing on the Bahrain Investment Market. Through these efforts, Bahrain Bourse aims to strengthen its market infrastructure, promote liquidity, and support the private sector in driving economic progress.
Enhanced Liquidity
Bahrain Bourse has undertaken significant initiatives to enhance market liquidity, stimulate trading activity, and improve the efficiency of the capital market. The introduction of Technical (Uncovered) Short-Selling Guidelines represents a pivotal step, allowing investors to diversify their trading strategies within a well-regulated framework. In parallel, the adoption of a new Market Making and Liquidity Provision Regulatory Framework reaffirms Bahrain Bourse’s commitment to fostering an active and liquid trading environment.
Strengthening these efforts, Bahrain Bourse has approved Q Market Makers (QMM) as an external market maker, contributing to the development of orderly and efficient market conditions. Additionally, the launch of a Trading Incentives Scheme offers rebates of up to 60% on trading commissions for market makers engaging in listed securities, aims to further incentivize trading activity and enhance liquidity across the exchange.
Advancing Sustainability and Governance
Sustainability remains at the core of Bahrain Bourse’s vision, aligning with the Kingdom of Bahrain’s "Bahrain Blueprint" and the global transition toward carbon neutrality. Key milestones include joining the Net Zero Financial Service Providers Alliance and introducing the unified GCC ESG Disclosure Metrics. Additionally, Bahrain Bourse updated its Listing Rules and its Guidelines, to reflect the latest ESG disclosure requirements as mandated by the CBB.
Board Mentorship Program
Bahrain Bourse, in partnership with the Bahrain Institute of Banking and Finance (BIBF), launched the BHB Board Mentorship Program, reinforcing its commitment to fostering governance excellence and preparing future leaders for boardroom roles. The program aims to equip aspiring senior executives with the expertise needed to navigate complex corporate environments and contribute to the sustainability of Bahrain’s capital market.
Spanning five weeks, the program delivered 32 hours of comprehensive training through interactive workshops and expert-led lectures. A core feature was the Board Factual Simulation, offering participants practical exposure to real-world boardroom scenarios and decision-making dynamics. Through a competitive selection process, 20 professionals from various sectors were selected to benefit from this initiative, which emphasizes leadership development and strategic thinking.
This program underscores Bahrain Bourse’s dedication to strengthening corporate governance practices and supporting the development of a skilled pipeline of board-ready leaders, ensuring a solid foundation for sustainable growth across the market ecosystem.
TradingTech Summit – MENA 2024
Bahrain Bourse, in collaboration with the Arab Federation of Capital Markets (AFCM) and A-Team Group, successfully concluded the TradingTech Summit – MENA 2024. The summit attracted over 300 industry professionals, including key stakeholders from exchanges, regulatory bodies, and technology providers, all engaged in discussions surrounding the evolving trading technology landscape.
The event provided a platform for over 30 expert speakers, covering critical topics such as market data integration, big data analytics, and advancements in trading surveillance systems. Participants also had the opportunity to explore innovative solutions from six exhibitors, showcasing the latest developments in trading technology.
This summit further solidified Bahrain's position as a regional leader in financial innovation, reinforcing the exchange's commitment to digital transformation and the continuous modernization of capital market infrastructure. Looking ahead, Bahrain Bourse remains focused on leveraging technological advancements to enhance the efficiency and competitiveness of the regional financial markets.
Awards
Bahrain Bourse has been recognized for its ongoing efforts to elevate financial literacy, sustainability, and operational resilience within the capital market. In 2024, the exchange was honored with the title of Best Arab Stock Exchange for Financial Literacy at the Arab Federation of Capital Markets (AFCM) Annual Conference held in Doha, State of Qatar. This award reflects Bahrain Bourse’s continuous commitment to enhancing financial literacy, which is integral to its broader Environmental, Social, and Governance (ESG) framework. Among its key initiatives, Bahrain Bourse has played an active role in global financial literacy campaigns such as the World Federation of Exchanges’ Ring the Bell for Financial Literacy and introduced the Board Mentorship Program in collaboration with the Bahrain Institute of Banking and Finance (BIBF).
Bahrain Bourse has been also awarded ‘Best Strategic Partnerships in Capital Markets – Bahrain 2024’ Award from International Finance Magazine. This recognition underscores Bahrain Bourse’s unwavering commitment to fostering strong and collaborative partnerships within the capital markets industry. Bahrain Bourse has forged several successful strategic partnerships recently, including collaborations with the Abu Dhabi Securities Exchange (ADX), the Middle East Investor Relations Association (MEIRA), the Arab Federation of Capital Markets, and the Bahrain Institute of Banking & Finance (BIBF).
In addition to this achievement, Bahrain Bourse was recognized with the Most Sustainable Practices in ESG Bahrain 2024 award by the Global Banking & Finance Review. This accolade acknowledges the exchange’s steadfast commitment to ESG principles and its role in promoting sustainable investment practices within the capital market. Bahrain Bourse has continually prioritized the integration of ESG standards across its operations, ensuring that sustainability remains at the heart of its business model.
Bahrain Bourse also achieved ISO 22301:2019 certification for its Business Continuity Management Systems (BCMS) following a comprehensive audit by Bureau Veritas. This certification highlights the exchange’s commitment to ensuring operational resilience and safeguarding against potential risks. The achievement of ISO 22301:2019 is an important milestone in Bahrain Bourse’s ongoing efforts to enhance its security and business continuity measures, ensuring uninterrupted services for its stakeholders in the event of unforeseen disruptions.
These prestigious awards demonstrate Bahrain Bourse’s dedication to advancing financial literacy, sustainability, and operational resilience. As the exchange continues to build upon these successes, it remains focused on fostering a dynamic and resilient capital market that supports the broader economic goals of Bahrain.
Financials
Despite the geopolitical tensions and economic challenges of 2024, Bahrain Bourse remained resilient and adaptable, delivering a strong recovery that highlights its financial strength and the effectiveness of its strategy.
Bahrain Bourse recorded a net profit of BD 688,054 for the fiscal year ended 31 December 2024, compared to BD 890,713 for the fiscal year ended 31 December 2023, a decrease of 22%. However, the total operating income increased to BD 6.33 million compared to BD 5.88 million in 2023, reflecting an increase of approximately 8%. The total operating expenses stood at BD 5.24 million in comparison to BD 4.84 million in 2023, reporting an increase of approximately 8%. Total assets also grew to approximately BD 63.87 million, up 13% from BD 56.5 million in 2023.
Acknowledgements
On behalf of myself and the entire Bahrain Bourse team, I extend my deepest gratitude to His Majesty King Hamad bin Isa Al Khalifa and His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander of the Armed Forces, and Prime Minister, for their unwavering support of Bahrain Bourse and its contributions to the Kingdom's economic development. I would also like to express my sincere appreciation to the Minister of Industry and Commerce, H.E. Abdulla bin Adel Fakhro, for his steadfast commitment to the growth and success of Bahrain Bourse and Bahrain Clear.
I also extend my thanks to the Governor of the Central Bank of Bahrain, H.E. Khalid bin Ebrahim Humaidan and all CBB employees for their ongoing support to Bahrain Bourse and Bahrain Clear.
I wish to thank the Chairman and members of Bahrain Bourse’s Board of Directors for their continued leadership, oversight, and strategic guidance. Their vision and dedication remain instrumental in advancing Bahrain’s capital market, driving innovation, and fostering long-term resilience.
Our achievements this year are a testament to the commitment and passion of Bahrain Bourse’s team. Together, we remain focused on realizing our shared vision of creating a dynamic, inclusive, and resilient capital market that aligns with Bahrain’s economic aspirations. The dedication and collaboration of our team have been pivotal to our success, and I am proud of the collective impact we continue to make.
Finally, I extend my heartfelt thanks to our stakeholders, market participants, and partners, including brokers, listed companies, custodians, investors, and brokerage firms. Your trust, collaboration, and proactive engagement are the driving forces behind our achievements and the continued growth of Bahrain’s capital market. Together, we are shaping a vibrant and sustainable financial ecosystem that will benefit the Kingdom for generations to come.
Future Outlook
As we move forward into a new year, the foundation laid in 2024 strengthens our resolve to achieve even greater milestones. Our focus remains on enhancing market accessibility, fostering regional and international collaboration, and advancing innovative initiatives that align with regional and global trends. With sustainability at the core of our strategic vision, we are dedicated to shaping a financial landscape that prioritizes long-term resilience and inclusive growth.
The year ahead presents opportunities to deepen our impact, leveraging the progress made to drive transformative change within Bahrain’s capital market. Guided by our commitment to excellence and innovation, we look forward to contributing meaningfully to the Kingdom’s economic vision and further solidifying Bahrain’s position as a dynamic financial hub.
Khalifa bin Ebrahim Al-Khalifa
Chief Executive Officer