An agreement was signed between Bahrain Bourse (BHB) and Zain Bahrain to assign BHB as a share registrar for the shares of the telecommunications company.

The agreement was signed by Bahrain Bourse chief executive Shaikh Khalifa bin Ebrahim Al Khalifa and Zain Bahrain general manager Mohammed Zainalabedin, said a report in the Gulf Daily News (GDN), our sister publication.

According to the agreement, Bahrain Bourse will provide Zain Bahrain with a variety of services that includes maintaining a record of the share register that holds the shares in electronic form, and updating the data of the registry as a result of dealing on the company's shares in accordance with the rules and regulations of the bourse and other related services.

In addition, Zain Bahrain will provide BHB with electronic reports on the transfer of ownership resulting from executed transactions on the shares of the company as well as the percentage of investors' holdings, investors' account statements, and other periodical reports.

Shaikh Khalifa welcomed the joining of Zain Bahrain to the list of companies that BHB provides with a variety of developed services as a share registrar.

He praised the confidence that Zain Bahrain has put in BHB and said the bourse will continue developing its services. He said the BHB will be investing in its technical infrastructure and training to continue developing its staff to meet the demands of its clients and listed companies.

“The signing of the agreement with Bahrain Bourse will enhance the commitments of Zain Bahrain that go in line with the principles of corporate governance,” Zainalabedin said.

“Abiding with such high standards in dealing with shareholders is a vital area for the core of our business to maintain the confidence of our current and potential investors,” he added.

By signing this agreement, Zain Bahrain joins the list of listed companies BHB serves as a share registrar including Batelco, Alba, Khaleeji Commercial Bank, Takaful International and United Paper Industries.

BHB provides those companies with unique professional registrar services that enable them to receive detailed reports on their shareholders' dealings at the bourse. - TradeArabia News Service