BHB partners with Diversity on Board to promote sustainability, diversity in advisory, executive boards

Manama, June 10 (BNA): The Bahrain Bourse (BHB), a stock exchange authorized and regulated by the Central Bank of Bahrain, has announced its strategic partnership with the Diversity Board (DOB) Program to promote the distinguished Emerging Board Leaders Fellowship (EBLF) programme.

The announcement came after the signing of a memorandum of understanding between the Bahrain Bourse and Diversity in the Board of Directors, a regional platform that helps organizations identify and appoint women to executive and advisory board positions. The collaboration aims to create a collaborative framework to enhance the diversity of boards of directors within the MENA region to enhance economic competitiveness, corporate governance, and foster a more inclusive society by educating, grooming, and nurturing a healthy pool of highly qualified talent who are destined to be “. Ready for the board.”

According to the MoU, Bahrain Bourse will also support the EBLF and Fellows Program through workshops and provide insights, trends and the latest updates on boards’ expectations within listed companies. The BHB will collaborate with key stakeholders across the region to facilitate sessions for DOB Annual Emerging Board Leaders Fellowships to join organizations such as HSBC who are a key sponsor and partner of the EBLF; and KPMG in Bahrain who support the program as a knowledge partner.

In addition, BHB will facilitate strategic collaboration between Board Diversity and the Middle East Investor Relations Association (MEIRA), and engage MEIRA in planning and delivering relevant key learning sessions for the group of Fellows in the DOB Annual Emerging Board Leaders Fellowship.

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Shaikh Khalifa bin Ebrahim Al Khalifa, Chief Executive Officer of Bahrain Bourse, commented: “We are pleased to collaborate with Diversity in the Board of Directors to promote sustainability and diversity in advisory and executive positions across listed companies through the Fellowship Program for Emerging Board Leaders. As a major player in the capital market, we believe that we can play a pivotal role in encouraging diversity in the boards of directors in the Bahraini capital market by supporting leadership programmes. ESG) among stakeholders. This partnership supports Bahrain Bourse to achieve our ambition to be a regional leader in sustainability leadership, environmental, social and corporate governance, and more specifically inclusion and diversity.”

Tariq Al-Alimi, co-founder of Diversity on Board, commented: “Our partnership with Bahrain Bourse is a landmark achievement for board diversity, marking an important step forward in our mission to promote diversity on boards and pioneer sustainability across the MENA region. BHB’s adoption of the United Nations Women’s Empowerment Principles and commitment to the United Nations Sustainable Stock Exchanges Initiative exemplifies their dedication to promoting sustainability and gender equality.Their leadership in these areas, along with our collaborative efforts, will undoubtedly foster a more inclusive and future-ready landscape in corporate boardrooms, as well as in Supporting exceptional regional leaders who participate in the Emerging Board Leaders Fellowship (EBLF) Program.”

It is worth noting that the Bahrain Bourse announced its commitment to the United Nations Sustainable Financial Markets Initiative (SSE) in 2019 to promote sustainable and transparent capital markets, as part of its sustainability journey. The Bahrain Bourse endorsement of the United Nations Program on Gender Equality aims to advance the sustainability journey and roadmap around topics related to gender equality. Through March 2023, BHB endorsed the United Nations Women’s Empowerment Principles (WEP) along with 7,000 other global signatories, who voluntarily expressed their commitment to further the advancement of gender equality and equity in the workplace and marketplace. The United Nations’ WEP initiative focuses on seven core principles that provide companies with guiding principles on achieving gender equality in line with the United Nations’ Sustainable Development Goals.

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