ASAR is a Tier 1 ranked corporate and commercial law firm as rated by the International Financial Law Review (IFLR), Chambers and Partners and the Legal 500.

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

LOCATION
ROYAL GOLF CLUB – BAHRAIN

FEES
FREE ATTENDANCE

ATTENDANCE
IN-PERSON

days
Hours
Minutes
Seconds

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

Opening and Welcome Address – Luis Cunha

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

Q&A with Steven and Sherif

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

Q&A with Panel

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

Steven Brown
Partner

Sherif Saad Eldin
Senior Associate

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

Huda Albasri
Chief of Investor Relations & Guidance at the Registration Directorate in the Ministry of Industry and Commerce (MOIC)

Simone Del Nevo
Head of Legal at SICO

Contact Us

footer-logo

11th Floor, Al Rossais Tower,

Building No. 283, Road No. 1704,

Diplomatic Area 317