News and Public Relations

Aymen Almoayed is appointed as Deputy of the Head of Bahrain Bourse Executive Committee 
Date: 13 May 2014

Shaikh Khalifa bin Ebrahim Al Khalifa has taken over as the chief executive of Bahrain Bourse (BHB) with effect from Sunday, it was announced yesterday.

The board of BHB has also appointed Afnan Al Zayani as head of the executive committee and Ayman Almoayed as her deputy.

The announcements follow a meeting of BHB directors chaired by Yusuf Abdulla Humood.

Shaikh Khalifa was the deputy chief executive and chief operating officer of the bourse.

He joined BHB in 2010 as the deputy director of settlement, central depository and IT.

Shaikh Khalifa was also responsible for implementing the bourse development strategy that was approved by the board in 2011.

Mohammed Ahmed Hassan’s appointment as head of the audit, risk and corporate governance committee, and Nabeel Khalid Kanoo as his deputy was also announced.

The board approved BHB’s financial results for the first quarter which showed 77 per cent growth in revenues generated from trading commissions when compared with the revenues generated in the first quarter last year. Total revenues have increased by 9.46pc during the first quarter.

Reviewing developments on BHB’s strategic plan, the board welcomed the Central Bank of Bahrain’s (CBB) final approval of the “Market Rule”.

The approved Market Rule allows non-Bahraini brokers to trade in BHB directly without having a representative office in Bahrain, given that a clearing member should be appointed to settle transactions executed at the bourse. The rule also re-classifies exceptional cases to four instead of the previous 16, while other transactions have to be executed on the trading floor.

In addition, the board was briefed on the steps taken by BHB to introduce the Murabaha programme that will be launched in co-operation with CBB and various Islamic banks and institutions.

 

 


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