Manama: Bahrain Clear, a fully owned subsidiary of Bahrain Bourse, has announced that it will waive account opening fees for both retail and institutional investors starting February 1. This strategic move is aimed at strengthening market accessibility.
According to Bahrain News Agency, this initiative is part of a broader market development strategy designed to enhance liquidity and attract new categories of investors. It is aligned with Bahrain's Vision 2030, aiming to strengthen the competitiveness of the Kingdom's capital market both regionally and globally.
By removing these fees, Bahrain Clear is reinforcing its role in facilitating a more accessible and efficient investment environment. This decision is part of Bahrain Clear's broader strategy to improve the overall investor experience, streamline market accessibility, and reinforce Bahrain's capital market infrastructure in line with international standards and global best practices.
Abdulla Abdin, Chief Operating Officer of Bahrain Clear, stated that the company aims to eliminate frictional barriers to create a more accessible experience for all investors. He emphasized that these efforts are designed to attract new pools of investors, both locally and internationally, while supporting the development of a vibrant, liquid, and competitive capital market ecosystem in the Kingdom.
Bahrain Clear, with a disclosed capital of 5 million Bahraini Dinars and a paid-up capital of 1 million Bahraini Dinars, is licensed by the Central Bank of Bahrain. It operates as a 'Clearing, Settlement, and Depository House,' offering a range of pre- and post-trade services to investors. These services include securities transactions, depository, clearing, settlement, central registry, and registration.