Annual Review & Certification
In addition to its periodical reviews of Company’s performance, the Board conducts a detailed annual review of the Corporate Governance processes within the Company. Additionally, in accordance with the requirements the Rulebook issued by the Central Bank of Bahrain (CBB), the Board is required to provide a written certification, to be signed by all Board members) to the CBB every year within three months of the financial year end confirming whether the internal corporate governance processes that it has implemented have successfully achieved their objectives, and consequently whether the Board has fulfilled its responsibilities for directing and monitoring the overall conduct of the company’s affairs.
This annual review, based on the management reports submitted by the Board Committees and General Management and/or any other available information broadly covers the following aspects:
-
Business Performance
-
Financial Performance
-
Management Performance
-
Strategic and Operational Plans including Organizational Structure.
-
Internal Controls & Systems
-
Performance of Subsidiaries & Branches
-
Risk Management
-
Compliance
-
Insider Trading
Reports of the Board Committees