The Central Bank of Bahrain (CBB) plans to stop managing the Bahrain Stock Exchange (BSE) to focus on its role of regulating the bourse, an official said on Monday.
'The CBB will continue to regulate the exchange but will not be involved in managing it,' a CBB spokeswoman said, declining to provide a date for the transfer of management or further details.
CBB governor Rasheed al-Maraj has said he was not happy that the central bank was both managing and regulating the exchange. He has said the two roles should be separated.
The BSE is plagued by low trading volumes, with hardly any company being traded on a daily basis.
Aluminium Bahrain (Alba) last month priced its initial public offering on BSE at the bottom of the proposed price range after it drew just enough buyers to cover the offering.
Analysts said the listing on BSE with its track record of being illiquid was one reason for the lukewarm reception by regional investors.
Officials at BSE could not be reached for comment on Monday, a public holiday in Bahrain.
WTI Falls a Fourth Day for Biggest Weekly Drop in a Month
West Texas Intermediate crude fell for a fourth day, extending the biggest weekly drop in more than a month, amid signs of rising U.S. fuel supplies and a global economic slowdown.
Guangdong Materials Group to issue RMB 600 million bills
Guangdong Materials Group Corp announced today that it plans to issue RMB 600 million worth of unsecured short-term notes with a maturity of 365 days on the interbank market from May 30.
T
Auto steel demand in China to continue rising
The production and sales statistics is out of expectation since the beginning of this year, which is expected to continue rising. Therefore, auto steel demand has more room to grow as car ownership,