Bahrain Bourse has won the award for the Best Corporate Governance, GCC, 2013. The award was presented to BHB by Capital Finance International (CFI) for BHB’s efforts to implement Corporate Governance Code(2010) issued by the Ministry of Industry & Commerce and Central Bank of Bahrain.
The CFI Judging panel was impressed by BHB’s efforts to improve on and ensure continuous good corporate governance and noted that, ‘The results achieved so far do stand out as an example to other organizations in the region.’ The CFI’s Panel commented that management of the Bourse appears to have a well thought out strategy for the future and that a strong focus on good corporate governance is very much part of their plans.
he Panel was pleased to see that the Bahrain Bourse is also encouraging their listed companies to improve on corporate governance and making efforts to persuade small and family business to come to market.
Mr. Yusuf Abdulla Humood, Chairman of Bahrain Bourse was delighted for winning the prize “this achievement came as a result to the policies adopted by the Government of Bahrain that aims at ensuring & emphasizing the implementation of best Corporate Governance practices in all its activities, especially the policies relating to the capital market sector as it is a main contributor to a healthier investment environment for the Kingdom of Bahrain.”
Mr. Fouad Rashid BHB’s CEO said that winning this award will be an incentive for all the bourse’s stakeholders to put more efforts in order to contribute to the success and create more value for the market participants. “Implementation of corporate governance code is one of the priorities of our strategy that aims at developing all aspect of functions at the bourse”. He also emphasized on the importance of implementation of listed companies to the corporate governance code in order to gain and enhance investors’ confidence and maintain their rights and interests through disclosure and transparency.
It is worth mentioning that CFI is a print journal and online resource reporting on business, economics and finance, it also provides news, analysis and commentary on the markets worldwide addressing economic, political and business factors affecting these markets and help identify regions, industry sectors and companies that will succeed. The journal contributors includes The World Bank, International Finance Corporation, World Trade Organization, UNCTAD and many other major international organizations.