Chairman Dr Ahmad Khalil Al Mutawa said the UAE is a logical starting point to trade shares outside Bahrain
Bahrain’s Khaleeji Commecial Bank (KHCB) will list its shares on Dubai Financial Market (DFM) by the end of the year, the bank announced on Sunday.
According to the bank, the listing will come after approvals from regulatory authorities in Bahrain and the UAE, including the Central Bank of Bahrain, the DFM, and the Securities and Commodities Authority.
According to the company, the listing “is a positive step” as KHCB works to expand its activities and develop services in light of the growth the bank has experienced in Bahrain’s financial market since its inception in 2004.
"Listing the bank's shares on the DFM is a qualitative shift in the bank's operations and embodies the objectives of creating a favourable environment for shareholders to trade their shares, enhancing the bank’s market value,” said Dr Ahmed Khalil Al Mutawa, chairman of KHCB’s board of directors.
“This is built on the trust of investors that the Bank has earned, resulting from the successes and high returns we have achieved over the past few years.
“The economic development witnessed by the UAE has encouraged the bank’s management to choose the DFM as a starting point to trade shares outside the Kingdom of Bahrain, which represents another step towards linking the financial markets of Bahrain and the UAE,” he added.