Mubasher: Bahrain Bourse (BHB) and the Middle East Investor Relations Association (MEIRA) has officially launched a new chapter in Bahrain to develop and enhance Investor Relations (IR) across Bahrain.
The MEIRA Bahrain Chapter has been recently inaugurated at the signing ceremony held at BHB and attended by the founding members who have recognised their commitment to develop the IR function in the local market.
The founders include Aluminium Bahrain (ALBA), represented by Eline Hilal; Bank ABC, represented by Brendon Hopkins; Bahrain Telecommunications Company (Batelco), represented by Faisal Qamhiyah; Ithmaar Holding, represented by Sameh Mohamed Mahmandar, the National Bank of Bahrain (NBB), represented by Russell Bennett; and SICO, represented by Fadhel Makhlooq.
Bahrain Bourse has led the Bahrain Chapter represented by the head of MEIRA Bahrain Chapter Marwa AlMaskati.
DirectFN head of IR Solutions Abdo Khoury said he was very pleased with the Bahrain Bourse support to kick off the MEIRA Bahrain chapter, which will boost the knowledge sharing and application global IR best practices in Bahrain, hence ensuring more market transparency.
“Nowadays most institutional investors expect more and more IR focus in any company they currently or plan to invest in,” Khoury told Mubasher, stressing that in the absence of communication between investors and the company, “there may be negative consequences directly affecting foreign investments flows, and price.”
DirectFN, part of NTG group, is one of the largest ICT companies across the Middle East, with a special focus on Market intelligence and IR web solutions, providing real-time market price and equity fundamentals feed.
CEO of Bahrain Bourse Shaikh Khalifa Bin Ebrahim Al Khalifa commented, “Bahrain Bourse will play a major role in this initiative to promote best practices in IR. Further, the roll-out of the chapter will also signal to the international investment community our commitment and enhance the possibility of inclusion in emerging markets indices.”
“Since MEIRA signed the MOU with Bahrain Bourse in November, we have been working very closely with the exchange to develop a dynamic and committed Chapter in the Kingdom. This is a great milestone for MEIRA and the Bahraini capital markets and represents a unique opportunity to raise awareness of the importance of IR in the Kingdom,” the chairman of MEIRA Andrew Tarbuck said.
On 7 November 2018, Bahrain Bourse signed an agreement with MEIRA to promote the development of the Investor Relations (IR) function and corporate governance best practice in Bahrain.
The agreement has outlined a framework for the launch and operation of the Bahrain Chapter, aiming at developing a culture of effective communication between listed companies and investors, but also with the exchange, regulator, advisers and the buy-side and sell-side professionals in the kingdom.
