“The law was issued about four years ago and the BCCI executive management had already held a meeting with the Minister of Industry and Commerce to implement the law making BCCI membership compulsory for every business entity,” the BCCI board member and Treasurer Isa Mohammed Abdulrahim Rafeei on the sidelines of the BCCI’s 28th AGM told The24X7News Bahrain (www.twentyfoursevennews.com).
Isa Abdulrahim also assured the BCCI members during the AGM that steps were being taken to implement the law in coordination with the Ministry of Industry and Commerce, which is responsible for issuing the CRs in Bahrain.
Earlier, the AGM which was attended by 202 members against the minimum requirement of 200 members or 10% of the paid membership of the BCCI has approved the annual financial statement for 2014 and other items on the agenda.
The AGM was presided over by the Chairman of the board Khalid Abdulrahman Almoayyed and the executive management who were questioned by the members on financial discipline and the reasons that why the BCCI has had failed the implement the compulsory membership for the businesses in Bahrain.
Khalid Almoayyed also denied any rift within the BCCI board while replying to a question raised by one of the members citing a news item which just one day before the AGM published a detailed report saying that there have been serious agreements among the board members.
“Nothing is true in that report,” the Chairman of the BCCI categorically said.
CEO of Bahrain Chamber of Commerce and Industry Nabeel Al Mahmood thanked the members of the BCCI for attending the AGM according to Article (15) of Decree Law No. (48) of 2012 with regard to Bahrain Chamber of Commerce and Industry.
The AGM discussed topics listed in the agenda, as mentioned in Article (17) of the law, that included the ratification of the minutes of the Ordinary GM held on 10th April 2014, discussed and approved the annual report for 2014, discussed and approved the financial report and the External Auditor’s report for the fiscal year 2014, assigning the External Auditor for 2015.
According to Article No (19) of the Chamber’s Decree Law, the meeting declared valid with the presence of 200 members or 10% of the number of registered members, whichever is less. All the registered members who paid their annual participation fees 7 days before the GA Meeting were entitled to enter the hall and exercise their right to vote according to Article No. (14) of the Chamber’s Law”.
