Corporate Governance

Corporate Governance

Corporate Governance

Corporate governance is the system used to direct and manage the affairs of our bank with the aim of enhancing prosperity in business and corporate accountability. The ultimate objective is realising long-term shareholder value whilst taking the interest of other stakeholders into account.

AIB’s Board has always prioritised good governance, and has adopted a comprehensive framework of corporate governance guidelines designed to balance performance and conformance. Through this, the bank can effectively undertake the risk-taking activities which form the basis of our business. Our practices comply with corporate governance principles and recommendations issued by Bahrain’s Ministry of Industry and Commerce and Tourism  and the High Level Control Module of the Central Bank of Bahrain.
You can find more information on our corporate governance here.

  • The Kingdom of Bahrain has announced the introduction of Value Added Tax (VAT) effective from 1st January 2019 at a standard rate of 5% with certain supplies subject to a 0% rate and some exemptions.

    In compliance with this Government mandate and in accordance with Bahrain’s VAT Law, we would like to inform you that AlBaraka Islamic Bank B.S.C. (AlBaraka) has been registered with the National Bureau for Taxation (“NBT”) for VAT purposes. Therefore, starting from January 1st 2019, AlBaraka will be required to charge and collect VAT on certain services and products in accordance with the VAT Law and its Executive Regulations.

    The law provides that prices displayed must be inclusive of VAT, therefore, we will be amending our Service Charges and our terms and conditions accordingly.

    For more information regarding the introduction of VAT in Bahrain, please refer to the NBT’s website using the following link: https://www.nbt.gov.bh/laws_regulations

  • SUPPLEMENTARY INFORMATION APPENDIX CM-2 CODE OF BEST PRACTICE ON CONSUMER CREDIT AND CHARGING Here