BCCI elections ‘will see key changes’
Manama, August 18, 2013
Bahrain Chamber of Commerce and Industry's (BCCI) elections, expected in November, will witness crucial developments following the new BCCI law issued by a Royal decree in October last year.
It is yet to be endorsed by the legislative authority and includes a number of by-laws and regulations that put restrictions on proxy voting which was decisive in the previous elections.
The new law gives banks and major public companies the right to join the chamber's membership.
The number of votes will be based on the capital of each company or institution, with two votes for an establishment having a minimum capital of BD20,000 ($52,710); three votes for an establishment with a capital of BD100,000; four votes for an establishment with a capital of BD500,000; five for an establishment with a capital of BD1 million and up to 10 for an establishment with capital of more than BD1 billion, reported our sister paper Akhbar Al Khaleej. – TradeArabia News Service