Corporate Governance Statement

MENA Industrial Bank B.S.C.(c) (“MIB”) is committed to the highest standards of corporate governance, transparency and accountability in line with the Central Bank of Bahrain (CBB) Rulebook and the Corporate Governance Code of the Kingdom of Bahrain.

Our governance framework supports sound decision-making, strong risk culture and long-term value creation for our shareholders and stakeholders.

MIB’s Governance Framework

Board of Directors: The Board sets strategy, oversees risk and capital, and monitors management performance. Directors exercise independent judgment and act in the interests of all shareholders.

Board Committees: To discharge its responsibilities effectively, the Board is supported by:

• Audit Committee: Oversees financial reporting integrity, internal controls and the independence and effectiveness of internal and external audit.
• Risk & Compliance Committee: Oversees risk appetite, risk governance and compliance with laws, regulations and internal policies.
• Nominations, Remuneration & Governance Committee: Oversees Board and senior management appointments, succession, remuneration and governance practices.

   

  The Board Charter and Committee Terms of Reference define roles, authority and reporting lines and are reviewed periodically. MIB also maintains a Code of Conduct applicable to all employees and directors, and a Speak-Up/Whistleblowing mechanism.

  Compliance and Ethics

  MIB operates under the regulatory supervision of the Central Bank of Bahrain as a Bahraini Conventional Wholesale Bank, and complies with applicable laws and regulations of the Kingdom of Bahrain. We promote a culture of integrity, professionalism and accountability across the Bank.

  Transparency and Disclosure

  We provide timely, accurate and comprehensive information to shareholders, regulators and other stakeholders. Our annual report and audited financial statements are prepared and disclosed in accordance with the CBB Public Disclosure (PD) Module requirements.

  Shareholder Rights and Engagement

  MIB respects the equitable treatment of all shareholders. Matters requiring shareholders approval are conducted in accordance with Bahraini company law and CBB rules. We maintain open channels for investor relations and regular regulatory disclosures consistent with best practice.

  Risk Management and Internal Control

  MIB maintains a robust, enterprise-wide risk management framework covering credit, market, liquidity, operational and compliance risks. Independent Risk, Compliance and Internal Audit functions provide second- and third-line assurance to the Board and its committees.

  AML/CFT/CPF and Sanctions

  MIB is fully committed to combating money laundering, the financing of terrorism and financial crime. Our Anti-Money Laundering (AML), Combating Financing of Terrorism (CFT) & Counter Proliferation Financing (CPF) policies and controls comply with the CBB Rulebook (Volume1, Financial Crime-FC Module) and Bahrain’s AML Law, and are aligned with FATF recommendations. The Bank applies risk-based customer due diligence (KYC/CDD), screening and ongoing monitoring; maintains an independent Money Laundering Reporting Officer; and provides regular training to all employees.

  Data Protection and Confidentiality

  We safeguard client information and handle personal data in accordance with applicable Bahraini data-protection requirements and internal policies.