Bahrain Clear, the central securities depository and clearing house owned by Bahrain Bourse, has appointed Seven Pillars Consultancy as independent advisor to a program to develop its post-trade services, the company said on Sunday.
The program aims to bring Bahrain Clear’s central depository and clearing operations in line with international standards. Seven Pillars will help assess current operations and draw up a roadmap for the next phase of the kingdom’s post-trade infrastructure.
The review will cover Bahrain Clear’s operations, its regulatory and governance frameworks and their alignment with supervisory requirements, as well as its technology infrastructure. It is expected to produce prioritized recommendations and an implementation roadmap to be led by the company’s own team.
The program supports Bahrain’s Capital Market Development Plan for 2026 to 2028, which targets new services and tools to make the market more efficient and competitive. Bahrain Clear did not disclose the value or length of the engagement.
The appointment was announced at the Gateway Gulf Investment Forum in Bahrain. Yusuf Al Yusuf, Chairman of Bahrain Bourse, and Sheikh Khalifa bin Ebrahim Al Khalifa, Chairman of Bahrain Clear, attended, along with Seven Pillars founding partner Khaldoun Al Tabtabaie and managing partner Abdullah Al Sanan.
Al Tabtabaie is a former Chief Executive Officer of the Kuwait Clearing Company.
“Appointing an independent advisor is an important step in Bahrain Clear’s continuing efforts to develop its post-trade infrastructure and strengthen its alignment with international standards and best practices,” Sheikh Khalifa said.
