Bahrain Bourse issues updated listing rules and its guidelines

TDT | Manama                                                      

The Daily Tribune – www.newsofbahrain.com

Email: mail@newsobahrain.com

As part of Bahrain Bourse’s continuous efforts to develop the Capital Market in the Kingdom of Bahrain, and in pursuance of the Central Bank of Bahrain Resolution No. (11) of 2018 for the implementation of the Self-Regulatory Organization (SRO), Bahrain Bourse published its updated Listing Rules and Guidelines on Listing Rules yesterday.

The updated Listing Rules and the Guidelines for the Listing Rules have been issued to incorporate a comprehensive set of updates, including new disclosure requirements pertaining to ESG requirements issued by the Central Bank of Bahrain (‘CBB’) and are part of the ‘Common Volume ESG Module’. The Listing Rules and Guidelines will be effective immediately.

The updated Listing Rules and its Guidelines apply to all listed securities which are currently listed on the Mainboard Market as well as future prospective listings on Bahrain Bourse.

The new ESG disclosure requirements aim to standardize ESG reporting amongst issuers, which stipulate that issuers shall establish and maintain its own framework for ESG reporting in accordance with the relevant BHB and CBB’s ‘Common Volume ESG Module’ reporting guidelines.

In addition, issuers shall submit their ESG report no later than 6 months after the end of its financial year.

The ESG Report shall be in the form of a stand-alone report or included as part of the company’s annual report. Shaikha Sameer AlZayani, Senior Director of Listing & Disclosure commented, “Bahrain Bourse believes that ESG reporting is an effective tool for stakeholders to ensure enhanced transparency on listed companies.

We have updated BHB’s Listing Rules and its Guidelines to reflect the latest ESG disclosure requirements as mandated by the CBB. With the evolving ESG standards, Bahrain Bourse has taken a proactive approach to promoting sustainable practices amongst listed companies, fostering a sustainable and transparent capital market that aligns with the expectations of the investment community.”

It is worth noting that the CBB issued the ‘Common Volume ESG Module’ to be applicable on all listed companies for the reporting period ending December 2024.

The guidelines are aimed at establishing a standardized framework to ensure consistent and reliable ESG reporting, fostering transparent and comparable disclosures that align with both social and climate goals.

Commencing from the end of 2024, these reporting requirements will be applied comprehensively to listed companies and licensees of the Central Bank of Bahrain.

In addition, the ‘Common Volume ESG Module’ aims to address ESG-related risks in alignment with Bahrain Economic Vision 2030 and the UN Sustainable Development Goals (SDGs) as well as “Blueprint Bahrain” national action plan which was announced during the COP28 conference held in the United Arab Emirates.