Bahrain Bourse Wins World Finance 2014 Award for Corporate Governance

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Monday, March 03, 2014

Bahrain Bourse has won Corporate Governance award 2014 as best Bahraini Company from the UK based magazine World Finance. The award was presented to BHB by World Finance Magazine for BHB’s efforts in implementing Corporate Governance Code (2010) issued by the Ministry of Industry & Commerce and Central Bank of Bahrain, and its efforts in encouraging the listed companies to apply these principals, supporting transparency in Capital Market sector in the Kingdom of Bahrain, where the award was submitted to the bourse at London Stock Exchange premises on Friday 28th February 2014.

The World Finance Judging panel stated that “The award winners are those who have really gone that extra mile to make known their commitment to matters of transparency, accountability and responsibility in all they do. The Corporate Governance Award recipients not only represent good governance in itself, but also demonstrate a knowingness of their responsibilities to the local, national and global communities in which they work.”

“The award winners are not just well behaved companies, but vital players in driving some of the biggest financial and societal developments across the world” stated World Finance.

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.

BHB’s CEO clarified that Bahrain Bourse has won a similar award on Corporate Governance as best company in GCC in 2013.

It is worth mentioning that World Finance is a leading financial magazine, produced by World News Media from its Headquarters in London, reporting on business, Management and Finance. It also provides news, analysis and researches on the markets worldwide, and distributes annual Awards for various sectors including Banking, GCC Investment and Development, Global Insurance, Real Estate and Corporate Governance.

World Finance judging panel boasts over 230 years of financial and business journalism, supported by a research team that works round the clock to ensure our award winners are the most deserving in their sector. The magazine relies as well on its readers’ insights and experience to provide nominations to the judging panel.