Strong corporate governance has and will continue to be the foundation stone of ahlibank’s sustainable and inclusive growth.
Sound and effective corporate governance is the foundation on which any organisation or institution is built and operates. The execution of international standards and best business practices like accountability, fairness, responsibility and transparency are crucial in creating and sustaining shareholder value, and enhancing and retaining investor trust.
ahlibank’s Corporate Governance Policy provides the framework for the principles of effective corporate governance standards across its divisions and departments. The Capital Market Authority (CMA) directives, including the Code of Corporate Governance and the Central Bank of Oman (CBO) circular BM 932 on Corporate Governance in Banks, are the principal codes and drivers of the corporate governance practices in the Sultanate. ahlibank SAOG fully complies with all of their provisions.
Timely and accurate disclosure of information regarding the financial situation, performance, and ownership of the Bank are high on its corporate governance principles, as it improves the public understanding of the structure, activities, and policies of the Bank. It also endeavors to enhance long-term shareholder value and respect minority rights in all its business decisions.
Alongside its commitment to protecting the interest of its stakeholders, is the Bank’s goal of respecting and upholding the duty of the Board and senior management to oversee its affairs, ensure accountability, inculcate integrity and promote long-term growth and profitability. Serving as the core of the corporate governance practice, the independent Board ensures that the Management is aligned with the long-term interests of all its stakeholders with the objective of maintaining the highest standards of corporate governance.
ahlibank’s corporate governance philosophy is based on the following principles: