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ASAR Seminar 2023 - Bahrain
Bahrain Clear: A Modernized Share Registry,
and Understanding your Governance Obligations
Please note that registrations will close on Wednesday, 08 February 2023
DATE & TIME 13 FEBRUARY 2023 | 08:30 – 13:00
LOCATIONROYAL GOLF CLUB – BAHRAIN
FEES FREE ATTENDANCE
ATTENDANCE IN-PERSON
ASAR Seminar 2023 - Bahrain
Join us to stay up to date on all your corporate governance obligations and get insights on how to best benefit from increased operational efficiencies through the digitized registry of dematerialized joint stock company shares run by Bahrain Clear. Experienced ASAR lawyers are joined by senior officials from Bahrain Clear, the Ministry of Industry and Commerce (MOIC) and SICO to help your business transition to this modernized system.
Bahrain Clear, The Benefit of a New Registry.
Steven Brown – ASAR
Keynote
Several GCC jurisdictions recognize the benefit of treating joint stock companies differently from closely held, limited types of companies. This ranges from the group of rights and responsibilities associated with holding shares in a joint stock company to the process of transferring shareholding (including small numbers of shares) without requiring excessive formalities and impinging on other shareholder’s time and efforts.
Transfer of the register of closed joint stock company shareholding from the MOIC system and abandoning the requirement for general assembly meeting sin relation to each share transfer began with the 2014 amendment to the Bahrain Commercial Companies Law, followed by CBB regulations and has finally been cemented through the 2022 amendment to the Commercial Registration Law.
Steven will discuss the rationale and benefits associated with this efficient approach to joint stock companies and what to expect when interacting with Bahrain Clear in relation to the various corporate actions of joint stock companies generally. This paradigm shift toward efficient registrar operations is set to spark a revival in the use of joint stock companies for dynamic capital investment by passive shareholders.
Transitioning from MOIC to Bahrain Clear
Abdulla Abdin – Bahrain Clear, Huda Albasri – MOIC and Simone Del Nevo – SICO
Panel moderated by Steven Brown – ASAR
Following from the Keynote Addresses, our panel discusses implementation of the new share registry and provides real life insight from three different angles, that of regulator, of registrar and of user. In addition to sharing their perspective, we have allocated an extended question and answer session so that attendees can tap into the panelists thoughts and the motivation behind these changes.
Understanding Corporate Governance Obligations
Sherif Saad Eldin – ASAR
Keynote
With Bahrain embracing best practices by the introduction of Economic Substance Reporting, Ultimate Beneficial Ownership registration and a Corporate Governance Code, it enhances its position regionally and globally as a center for business and international investment. While introducing such regulations can represent a difficult balancing act between laissez-faire (deregulated) capitalism and assurances to investors against malfeasance, Bahrain has scored a 10 on the balance beam of governance.
We explore common misconceptions heard from clients and industry players, as well as noting the recent updates to the corporate governance code. Most importantly, we dig into the concept of “comply or explain” and the sometimes daunting task of determining whether a governance code provision is mandatory or voluntary. This session will provide a foundation for attendees to understand and benefit from the corporate governance code to introduce best practices to their organizations while maintaining compliance with Bahrain law.

Agenda

08:30 – 09:00
Coffee & Registration
09:00 – 09:10
09:10 – 09:35
09:10 – 09:35
‘Bahrain Clear’ The Benefit of a New Registry – Steven Brown – Keynote
09:35 – 10:00
Understanding Corporate Governance Obligations – Sherif Saad Elidin – Keynote
10:00 – 10:10
10:10 – 10:45
Coffee Break and Networking
10:45 – 11:45
10:45 – 11:45
Transitioning from MOIC to ‘Bahrain Clear’ a Modern Approach to Joint Stock Shareholding
Abdulla Abdin – Bahrain Clear, Huda Albasri – MOIC and Simone Del Nevo – SICO
Panel moderated by Steven Brown – ASAR
11:45 – 12:00
12:00 – 13:00
Lunch and Networking
13:00
Closing
13:15
Tee Time
Delegates interested in playing a round of golf after the seminar can take advantage of the preferential ASAR green fee rates provided by the Royal Golf Club.
Meet the Speakers
Speakers

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Steven has assisted in establishing, restructuring and liquidating regulated financial and other entities in Bahrain as well as supporting on construction, agency/distribution, property and trust documentation. Steven also advises and provides strategic assistance on commercial litigation and arbitration matters.
Steven Brown
Partner

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Sherif Saad Eldin
Senior Associate

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Abdulla Abdin
Chief Operating Officer (COO) at Bahrain Clear Company

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Huda holds a Master’s degree in business administration from the University of Strathclyde, Scotland, UK and Bachelors in electronics engineering from University of Bahrain, Isa Town, Bahrain.
Huda Albasri
Chief of Investor Relations & Guidance at the Registration Directorate in the Ministry of Industry and Commerce (MOIC)

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Simone Del Nevo
Head of Legal at SICO
Register for ASAR Seminar 2023 - Bahrain
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