MANAMA: The Central Bank of Bahrain (CBB) has issued instructions in relation to Press releases about financial results of public shareholding companies.
These instructions aim to standardise companies’ Press releases when announcing the annual and quarterly financial statements, and to aid shareholders and investors in making sound investment decisions grounded on accurate and sufficient financial information of the public shareholding companies.
The instructions were developed to objectively reflect the financial results of the public shareholding companies and to enable shareholders to evaluate the companies financial performance accurately and comprehensively.
The regulator said they are also part of efforts towards regulating the capital market, maintaining fairness and effectiveness of the market and protecting investors’ rights.
The instructions should also be seen as an extension of the CBB’s role in developing the disclosure and transparency standards with which the public listed shareholding companies will have to comply.
CBB capital markets supervision director Abeer Al Saad said the development of such directives is necessary to enhance the disclosure standards followed in the Bahraini capital market, and to keep abreast of the current developments in the regional capital markets, as the CBB strives to consistently adopt international best practices.
“The CBB is always endeavouring to improve the Bahraini capital market. Issuing these instructions is a further positive step in enhancing investor confidence and maintaining the integrity of the capital market in Bahrain,” she added.
To ensure effective implementation of the instructions, the CBB emphasises that all public shareholding companies listed on Bahrain Bourse must fully comply with the requirements set out while preparing Press releases in relation to their financial results.
The instructions can be found on the CBB website: cbb.gov.bh.
© Copyright 2019 www.gdnonline.com
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MANAMA: The Central Bank of Bahrain (CBB) has issued instructions in relation to Press releases about financial results of public shareholding companies.
These instructions aim to standardise companies’ Press releases when announcing the annual and quarterly financial statements, and to aid shareholders and investors in making sound investment decisions grounded on accurate and sufficient financial information of the public shareholding companies.
The instructions were developed to objectively reflect the financial results of the public shareholding companies and to enable shareholders to evaluate the companies financial performance accurately and comprehensively.
The regulator said they are also part of efforts towards regulating the capital market, maintaining fairness and effectiveness of the market and protecting investors’ rights.
The instructions should also be seen as an extension of the CBB’s role in developing the disclosure and transparency standards with which the public listed shareholding companies will have to comply.
CBB capital markets supervision director Abeer Al Saad said the development of such directives is necessary to enhance the disclosure standards followed in the Bahraini capital market, and to keep abreast of the current developments in the regional capital markets, as the CBB strives to consistently adopt international best practices.
“The CBB is always endeavouring to improve the Bahraini capital market. Issuing these instructions is a further positive step in enhancing investor confidence and maintaining the integrity of the capital market in Bahrain,” she added.
To ensure effective implementation of the instructions, the CBB emphasises that all public shareholding companies listed on Bahrain Bourse must fully comply with the requirements set out while preparing Press releases in relation to their financial results.
The instructions can be found on the CBB website: cbb.gov.bh.
© Copyright 2019 www.gdnonline.com
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