Bahrain Bourse (BHB) has become an affiliate member of the International Organisation of Securities Commission (Iosco), it was announced.

Iosco is an international body that brings together the world's securities regulators and is recognised as the global standard setter for the securities sector, said a report in the Gulf Daily News (GDN), our sister publication.

It includes 124 full members from institutions and regulatory authorities of financial markets.

BHB chairman Yusuf Humood said the achievement reflected the development of legislative infrastructure of the capital markets sector in the kingdom and BHB's compliance with international standards and the internationally adopted regulatory frameworks in the sector.

BHB chief executive Shaikh Khalifa bin Ebrahim Al Khalifa said the approval of Bahrain Bourse's application for affiliate membership of the Iosco acknowledges the commission's appreciation and support for its efforts in developing and improving the capital markets sector in a way that will enhance the investment environment.

"We will work to benefit from our membership in our co-operation with the Central Bank of Bahrain to make the capital markets sector more competitive and attractive for regional and international investments," Shaikh Khalifa said.

Created in 1983, Iosco is based in Madrid.

It develops, implements and promotes adherence to internationally recognised and consistent standards of regulation, oversight and enforcement in order to protect investors, maintain fair, efficient and transparent markets, and seek to address systemic risks. - TradeArabia News Service