Al Baraka Islamic Bank Sign Agreement with BIBF to Organize a Training Course in Governance for its Board of Directors
Al Baraka Islamic Bank BSC (c), had signed an agreement with Bahrain Institute for Banking and Financial Studies to organize a training course on corporate governance for financial institutions, to be held in November 2017 at the Bank's headquarters in Bahrain Bay. The agreement was signed by Mr. Mohammed Isa Al Mutaweh, Chief Executive Officer and Board Member of the Bank and Dr. Ahmed Abdul Hamid Al Sheikh, Director of the Institute.
The full-day session will be attended by all members of the Board of Directors, as well as a number of Executive Management members. The course should cover a number of important governance issues in the financial institutions of interest to the Board of Directors, including the standards of modern governance, the importance, components, duties and responsibilities of the Board and its committees, the Board's role in risk management and compliance, and the Bank's governance standards according to Basle regulations.
Mr. Mohammed Isa Al Mutaweh, Chief Executive Officer and Board Member of the Bank said that Al Baraka Islamic Bank is a pioneering in the organizing training sessions for the Board of Directors and all the Bank's staff, noting the importance of understanding the concepts and practices of modern governance in the financial institutions related to the Board members and the instructions of the Central Bank of Bahrain in this regard, where the Board of Directors and members of the Board have a very large and pivotal role in directing and supervising all the work of the bank in all respects.
Al Baraka Islamic Bank adheres to the principles and best practices of corporate governance. It is a fundamental part of how the Bank discharges its duties and responsibilities towards protecting and enhancing shareholders’ value as well as ensuring that it achieves long-term sustainable financial performance. The Bank’s governance framework extends beyond legislative and regulatory compliance and is aimed at creating a culture of good governance across the business to protect the interests of stakeholders. The Bank aspires to the highest standards of ethical conduct by delivering its promise to clients, reporting financial results accurately and transparently and maintaining full compliance with all laws, rules and regulations governing the Bank's business.