A Board of Directors is responsible for the overall corporate governance of
the Bank. Its principal role is to formulate corporate strategies, establish policy guidelines and ensure that the Bank is run in an efficient and effective manner. Within the Board, there is also an Executive Committee, comprising two members in addition to the Chief Executive of the Bank.
The Board has established a management structure that defines roles, responsibilities and reporting lines. Within this structure, there are working committees responsible for asset and liability management, risk management, credit, investment, human resources and information technology.
The Board has also formed an Audit Committee and has set up an independent internal audit function responsible for monitoring compliance with policies, procedures and regulations and ensuring that a sound system of internal controls is maintained at all times.
The Bank's activities are supervised by the Bahrain Monetary Agency and a Religious Supervisory Board. The financial statements of the Bank are audited annually and reviewed quarterly by an international firm of auditors. These statements are subsequently published in the newspapers.
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