The general assembly and annual meeting of the World Federation of Exchanges (WFE) has approved to provide Bahrain Bourse (BHB) with a full membership status of the organisation during its 54th meeting at Seoul, South Korea.

The WFE has voted for BHB to become its full member after meeting all the federation's membership criteria, said a report in the Gulf Daily News (GDN), our sister publication.

BHB chairman Yusuf Humood said the achievement reflects the confidence of international federations in the solid technical and legislative infrastructure of the capital markets sector in the kingdom.

BHB chief executive Shaikh Khalifa bin Ebrahim Al Khalifa hailed the bourse's achievement.

“The voting acknowledges the international recognition and appreciation of the status that BHB has reached and ensures that it is on the right path to continue its developments on all work aspects, which will enhance the bourse's status for investors globally,” he said.

“Bahrain Bourse's achievements, including the legislative and technical developments made during the previous years impressed the members of the WFE at the annual meeting,” Shaikh Khalifa added.

Shaikh Khalifa said that, post the attainment of the full membership, BHB will undergo a periodic review by the WFE to ensure BHB's commitment and compliance with internationally recognised standards in all work aspects.

Due to the international significance of WFE's membership, this achievement is expected to result in attracting further foreign investments, he added. - TradeArabia News Service