Wed 23 Sep 2009 09:47 AM
Fouad Rashid

Fouad Rashid

Industry: Financial Markets

Company: Bahrain Stock Exchange

Designation: CEO

Country: Bahrain

Citizenship: Bahrain

Occupation: CEO

The Bahrain Stock Exchange (BSE) was established in 1987, officially commenced operations in June 1989, and today boasts 50 listed companies. Its CEO, Fouad Rashid, is responsible for the development of the exchange, and tasked with guiding the BSE to become a leading regional and international market.

It is certainly on the right path, although proceeding at a cautious pace. Currently, foreigners can purchase, own or sell bonds, units of mutual funds, and warrants of domestic joint-stock companies. Foreigners who reside in Bahrain for one year or more are entitled to purchase, own, and/or trade up to 49 percent of a domestic joint-stock company’s equities. However, an individual foreigner may not own more than 1 percent of a company’s issued capital.

Foreign security holders are legally entitled to enjoy all the benefits of the ownership of securities of domestic joint-stock companies. They have voting rights on all matters submitted for approval, and receive dividends and other distributions without being subject to taxation.