The membership will enable TAIB Bank to trade cash instruments, derivatives, structured products and Shariah compliant financial instruments in a secure environment regulated by the Central Bank of Bahrain on behalf of its institutional and high net-worth individual client base.

“Our decision to join the BFX as a trading member came as a result of thorough due diligence of BFX’s product offerings for both the conventional and the Islamic markets as we focus on providing our client base with the best investment solutions for their varied needs,” TAIB Bank Chief Executive Officer Sohail Sultan.

“The enhanced liquidity and product mix provided through the BFX will allow us to more effectively manage our clients risk and investment needs,” he said.

Khalid Hamad, executive director of banking supervision at the CBB, said the partnership between the BFX and TAIB Bank shows the opportunities which exist for the new asset-classes that the BFX offers for trading and investment.

Arshad Khan, managing director and chief executive officer of the BFX and the BFX Clearing and Depository Corporation (BCDC), said: “The partnership affirms the positive reception of our innovative product portfolio within the Bahrain banking community and we look forward to supporting TAIB Bank in the years ahead as it moves from strength to strength under Sultan following its recent restructuring.”

BFX memberships are offered in four categories, allowing different levels of access to the market depending on the level of participation required by the financial institution and its clients.

The membership categories are: Trading and Clearing Member, Trading Member, Clearing Member and Authorized Remote Member.