Corporate Governance Guidelines
Good Corporate Governance is an integral part of the Company’s management and business philosophy. The Company subscribes fully to the principles and spirit of good Corporate Governance.
The Board of Directors exercise their fiduciary responsibilities towards all stakeholders by ensuring transparency and independence in the decision-making process. The Board have adopted high standards and values which set out the discipline expected of staff in their dealings with the participants, shareholders, colleagues, brokers, and other stakeholders of the company. The governance of the Company remains under continuous review, in order to enhance compliance levels according to international standards and best practice.
In order to meet its objectives, the Board of Directors has formed four sub-committees – the Audit and Corporate Governance Committee, the Executive Committee, the Nomination & Remuneration Committee and the Board Risk Committee. The roles and responsibilities delegated to the mentioned committees have been defined by the Board of Directors.
To continuously strengthen the corporate governance in the Company, the Board aligns its Corporate Governance Guideline with the Corporate Governance Code issued by the Ministry of Industry, Commerce and Tourism and the High-Level Controls (HC) Module of the Central Bank of Bahrain’s (CBB) Rulebook, Volume 3. The Company is also committed to comply with the requirements of Governance Standards as issued by the Accounting & Auditing Organization for Islamic Financial Institutions (AAOIFI).