BAHRAIN - Dow Jones Indexes and the Bahrain Stock Exchange have launched the Dow Jones Bahrain Index.
The index is a broad benchmark index that represents all tradable stocks that are listed at the Bahrain Stock Exchange. The index currently includes 32components. The five biggest companies by full-market capitalisation are Bahrain Telecommunications Co. (BD1,530 million), Ahli United Bank (BD803 million), Investcorp Bank S.A. (BD603 million), National Bank of Bahrain (BD567 million) and Gulf Finance House E.C. (BD506 million).
The Dow Jones Bahrain Index will be calculated in both the Bahraini dinar and the US dollar. The index is investable and is designed to serve as an underlying for investment products such as mutual funds, ETFs and other investable products.Fouad Rashid, director of the Bahrain Stock Exchange.
“The Bahrain Stock Exchange allows 100% non-Bahraini ownership in the Bahraini equities market, and enforces no tax on capital gain or on dividends. We hope that this step will encourage local, regional and international financial institutions to benefit from this index to gain more credibility and wider exposure for their products among potential international clients.”
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