MANAMA: Bahrain Bourse (BHB) and Saudi Stock Exchange (Tadawul) have been elected as members of the Arab Federation of Exchanges (AFE) board of directors, representing the Gulf region.
This was announced after a meeting of the federation’s general assembly held virtually.
Amman Stock Exchange and Beirut Stock Exchange were elected to represent the Levant region, and the Egyptian Exchange and the Casablanca Stock Exchange to represent the Arab African countries.
Misr for Central Clearing, Depository and Registry and Kuwait Clearing Company were elected to represent Arab clearing houses.
In addition, Damascus Securities Exchange, Muscat Clearing and Depository, and the Khartoum Stock Exchange were elected as members of AFE Audit and Governance Committee.
Bahrain Bourse chief executive Shaikh Khalifa bin Ebrahim Al Khalifa and chief operating officer Narjes Jamal participated in the meeting along with CEOs of regional stock exchanges and Arab clearing and depository companies.
Shaikh Khalifa said, “Bahrain Bourse’s election as a member in the Arab Federation of Exchanges board of directors reflects the important role of the bourse and its active participation in the federation’s activities and committees during the previous years. This, in return, enhances the confidence of various parties related to the capital market and supports BHB’s role to develop the capital market sector locally and regionally.”
Established in 1978 as the guiding body for the Arab stock exchanges, the federation currently has 21 members representing around 17 stock exchanges and four clearing companies, in addition to a number of brokerage companies in the Arab region.
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