Dow Jones Indexes, a leading global index provider, and the Bahrain Stock Exchange (BSE) today launched the Dow Jones Bahrain Index (DJ-BH). The index is a broad benchmark index that represents all tradable stocks that are listed at the Bahrain Stock Exchange.
The index currently includes 32 components. The five biggest companies by full-market capitalization 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 was developed to meet increasing demand for a transparent and competitive index whose methodology was in line with a global index family. The Dow Jones Bahrain Index will be calculated in both the Bahraini dinar and the U.S. dollar—making the performance of the Bahrain stock market easily comparable to other Dow Jones GCC market indexes, as well as to more than 40 equity markets globally. The index is investable and is designed to serve as an underlying for investment products such as mutual funds, ETFs and other investable products.
“With the launch of the Dow Jones Bahrain Index, Dow Jones Indexes becomes the first major global index provider to cover the Bahrain equities market,” said Lars Hamich, managing director of STOXX Ltd., the joint venture responsible for Dow Jones Indexes’ business development in Asia, Europe and the Middle East. “The cooperation with the Bahrain Stock Exchange is an important step in solidifying our role as the leading index provider in the GCC region. We are optimistic that this index will help to raise the profile of this ambitious and upcoming financial market as an investment destination for international investors.”
“We are delighted with the official launch of the Dow Jones Bahrain Index, and we are also happy to be the first stock exchange in the region that has a joint index with Dow Jones as a global index provider with a sound international reputation,” said Fouad Rashid, director of the Bahrain Stock Exchange. “We believe that this index will contribute to enhancing the position of the kingdom of Bahrain as an international financial center by attracting more investments.”
He added, “Announcing this index will help to enlighten the opportunities available for investors from all over the world at the Bahrain Stock Exchange, which 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.”
The Dow Jones Bahrain Index is a composite index of all stocks listed on the Bahrain Stock Exchange. Eligible companies must be domiciled and headquartered in Bahrain, and the company’s stock must have its primary listing on the Bahrain Stock Exchange. The index is weighted based on full-market capitalization. Daily historical index values are available back to Dec. 31, 1999.
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