MANAMA: Bahrain Bourse (BHB) has assumed the rotating presidency of Arab Federation of Capital Markets (AFCM), taking over from the Saudi Stock Exchange (Tadawul).

The handover took place yesterday at Bahrain’s self-regulated multi-asset marketplace and was marked by a bell-ringing ceremony led by BHB chief executive Shaikh Khalifa bin Ebrahim Al Khalifa, with the attendance of representatives of the federation’s members which include Mena-based stock exchanges, brokerage firms, custodians, and clearing houses.

Also held yesterday was the 47th AFCM meeting, where the recommendations of the executive committee on financial statements and the auditor’s report of 2021 were approved along with the estimated budget.

The meeting also discussed the federation’s upcoming plans for the year 2022, including the meeting dates of the federation’s committees and the workshops and sessions to be held related to the stock exchanges activities.

Kicking off today is the AFCM Annual Conference: Bahrain 2022 under the patronage of Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa.

The two-day event being held virtually seeks to create an enabling environment of Arab Financial Markets, as well as strengthen their integration and liquidity.

Additionally, the event plays a key role in uniting Arab financial market leaders with regional and international experts.

The conference is expected to attract more than 600 attendees from exchanges, and will gather financial market regulatory bodies, brokerage firms, investment fund managers, and economic journalists.

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