Almoayed Chambers has inked a deal with Bahrain Bourse (BHB) to become an authorized sponsor of Bahrain Investment Market (BIM). The deal was struck in the presence of Chairman of Almoayed Chambers, Aymen Tawfeeq Almoayed and Shaikh Khalifa bin Ebrahim Al Khalifa, CEO of Bahrain Bourse.
For those not familiar with it, the Bahrain Investment Market is an innovative equity market for startups and SMEs that are willing to grow and acquire more capital in the Kingdom and the broader Middle East and North Africa. It is firmly rooted within the self-regulated framework of Bahrain Bourse.
According to the Almoayed Chambers chairman, the launch of the Bahrain Investment Market is in itself a testimony to the exemplary vision of the country’s leadership and their relentless efforts to turn that vision into reality.
“We are proud of the humble, supportive role we played in its creation and look forward to opportunities to further aid the market and its members as Authorized Sponsors,” said Almoayed.
The inclusion of Almoayed Chambers within the Bahrain Investment Market follows many similar deals with several well-established specialized advisory firms including KPMG, BDO Jawad Habib, SICO, and Keypoint.
The rules that the BIM operates under make it mandatory for businesses to be backed by a sponsor both before and after their listing.
Speaking of the decision to appoint Almoayed Chambers as an authorized sponsor, Shaikh Khalifa said: “We are pleased to appoint Almoayed Chambers as one of the Authorized Sponsors within the Bahrain Investment Market.”
He added that the agreement with Almoayed Chambers is an extension of the BHB’s policy to encourage more businesses to list in the BIM and give them quality options when it comes to sponsorship.