Bank of Bahrain and Kuwait is first to use Board portal technology for effective Corporate Governance
May 10, 2011 - Computershare Governance Services (CGS), part of the Computershare group of companies (ASX:CPU) based in Australia has been awarded a prestigious contract to supply BBK (Bank of Bahrain and Kuwait) with secure Board portal software. An official signing ceremony was held at BBK’s Headquarters in Manama, Kingdom of Bahrain on Monday 2 May in the presence of Mr. Abdulkarim Bucheery, Chief Executive of BBK and Tony Ford, Head of CGS.
BBK – a pioneer in Bahrain in retail and commercial Banking – is the first company in the Middle East to invest in ‘Boardworks’, an online Board portal, to assist them in meeting their high standards in Corporate Governance, transparency and effectiveness.
The Bank says that it adopts a Corporate Governance philosophy which helps it maintain its leading position within the local and regional banking sector, with continuous adherence to strong Corporate Governance practices, enhancing compliance levels according to international standards of best practices. Its commitment to Corporate Governance was recognized for 2 consecutive years in 2009 and 2010 by Hawkamah, the regional Institute for Corporate Governance practices, in conjunction with Union of Arab Banks.
On the occasion of the contract signing, BBK’s Chairman Mr. Murad Ali Murad mentioned that “Having in place good Corporate Governance practices has always been the BBK Board of Directors’ prime concern. The efficiency of the process of sending Board meeting materials and other communications greatly affects the decision making process of the Board towards protecting and maximizing the benefit for the shareholders of the bank”
"In its continuous endeavours to improve further the Corporate Governance practices at the Bank, BBK is always keen to invest in major initiatives in the area, such as this online Board portal, which we are proud to be the first company in the Middle East to introduce" added Mr. Abdulkarim Bucheery, Chief Executive of BBK.
The advanced Boardworks technology opens up more effective Board communication channels for BBK. It can be accessed via a number of devices, in multiple regions, both before and after meetings making it a highly accessible and effective way to create, collate and circulate Board materials.
Tony Ford, Head of CGS said: “It has been a pleasure working with BBK and we are proud to have been part of this industry first for the region. We will continue to work closely with BBK whilst the product is implemented – providing support and training – and we look forward to being able to develop our presence further in the Middle East.”
For more information please contact:
Sarah Goldsbrough > PR Manager Computershare Governance Services Sarah.firstname.lastname@example.org 0870 702 0003 x1520
About Computershare Governance Services
Computershare Governance Services (CGS) is the leading global supplier of web based entity management, board portal and subsidiary governance solutions. Over 250,000 legal entities across more than 160 jurisdictions are administered, governed and kept compliant using our software. Leading companies from all market segments look to our team of governance specialists for proactive ways to stay compliant and minimize risk in an ever increasing regulatory environment. Our headquarters in Monaghan, Ireland are supported by 11 offices across the globe.
CGS is part of Computershare (ASX:CPU), a global market leader in transfer agency and share registration, employee equity plans, proxy solicitation and stakeholder communications. We also specialise in corporate trust services, tax voucher solutions, bankruptcy administration and a range of other diversified financial and governance services.
Founded in 1978, Computershare is renowned for its expertise in data management, high volume transaction processing, payments and stakeholder engagement. Many of the world’s leading organisations use these core competencies to help maximise the value of relationships with their investors, employees, creditors, members and customers.
Computershare is represented in all major financial markets and has over 10,000 employees worldwide. For more information, visit www.computershare.com
BBK has been the pioneer in Commercial Banking for 40 years in the Kingdom of Bahrain. As a revolutionary market leader, BBK has built a name and reputation which is respected locally as well as internationally. To maintain this reputation, BBK has been at the forefront, incorporating the latest technologies to provide the finest services. One example of which is the e-banking solutions offered by BBK, which provide new generation services through its user friendly award winning website www.bbkonline.com, along with the telebanking, cash depository machines and automated teller machines services. BBK is proud to be awarded the “Distinguished Corporate Governance” at the “Hawkamah-UAB 2010 Bank Corporate Governance Award”. This award has become a prestigious, competitive and highly coveted bank award that highlights the industry’s strong commitment to good corporate governance.