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MANAMA - Ithmaar Holding has received approval from the UAE’s Securities and Commodities Authority (SCA) to list on the Dubai Financial Market (DFM).
Ithmaar, which is licensed and regulated by the Central Bank of Bahrain (CBB) and is currently listed on the Bahrain Bourse and Boursa Kuwait, said the SCA’s approval marks an important milestone in its plans to list on additional stock exchange in the region.
The plan, which was presented by an Ithmaar shareholder as an additional agenda item at the annual general meeting in March, was approved by the shareholders who welcomed the initiative.
The listing requirements are subject to completion of remaining requirements of the DFM and subject to CBB’s final approval.
“We are pleased to note the SCA’s approval on plans to list at the DFM,” said Ithmaar Group chief executive Ahmed Abdul Rahim.
“We are continuing to work closely with the CBB as well as relevant authorities in Bahrain, and we hope to have final approval to proceed with the additional listing as soon as possible,” he said.
“The additional listing will open trading on Ithmaar’s shares to new, exciting markets,” added Mr Abdul Rahim.
Ithmaar owns two wholly-owned subsidiaries: Ithmaar Bank, a Bahrain-based Islamic retail bank, and IB Capital, an investment subsidiary, both licensed and regulated by the CBB.
Ithmaar, which is licensed and regulated by the Central Bank of Bahrain (CBB) and is currently listed on the Bahrain Bourse and Boursa Kuwait, said the SCA’s approval marks an important milestone in its plans to list on additional stock exchange in the region.
The plan, which was presented by an Ithmaar shareholder as an additional agenda item at the annual general meeting in March, was approved by the shareholders who welcomed the initiative.
The listing requirements are subject to completion of remaining requirements of the DFM and subject to CBB’s final approval.
“We are pleased to note the SCA’s approval on plans to list at the DFM,” said Ithmaar Group chief executive Ahmed Abdul Rahim.
“We are continuing to work closely with the CBB as well as relevant authorities in Bahrain, and we hope to have final approval to proceed with the additional listing as soon as possible,” he said.
“The additional listing will open trading on Ithmaar’s shares to new, exciting markets,” added Mr Abdul Rahim.
Ithmaar owns two wholly-owned subsidiaries: Ithmaar Bank, a Bahrain-based Islamic retail bank, and IB Capital, an investment subsidiary, both licensed and regulated by the CBB.
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