As a Bahrain-based Company, Batelco is subject to the corporate governance standards of the Central Bank of Bahrain (CBB) and the Bahrain Commercial Companies Law; and in line with the Corporate Governance Code 2018 of the Ministry and Industry, Commerce and Tourism. Batelco aspires to the highest standards of ethical conduct based on sound corporate governance. In accordance with its commitment to both meeting legal and regulatory requirements and adhering to international best practices, Batelco has put in place a comprehensive Corporate Governance framework to maximize operational efficiency and protect shareholders’ rights. Batelco regards the guiding principles of its Corporate Governance framework to be fairness, transparency, accountability and responsibility.
Batelco’ s corporate governance practices have been structured around the following ten principles:
To review the Company’s Governance Guidelines please click here.
The objective of this policy is to govern dealings in the shares of Batelco by its Board of Directors, executive management and such other persons who have access to insider information.
To view the Key Persons’ Dealing Policy please click here.
In line with the Corporate Governance Code of the Ministry of Industry, Commerce and Tourism ( MOICT) the Board of Directors have developed a Code of Conduct and Ethics which provides guidance to all Board Members on the best ethical practices that are applied in the Company and that are in line with law.
To review the Board Code of Conduct and Ethics please click here.
Batelco has established the Whistleblowing policy to encourage and guide Stakeholders to report suspected wrongdoings. All the stakeholders have a moral duty, and it is also an expression of loyalty and good faith to report potentially fraudulent and/or unethical conduct. The Policy has been approved by the Board and Audit Committee.
A Whistleblower (Employees, suppliers, contractors, clients or any individual) is anyone who has & reports knowledge of illegal, fraudulent, etc. activities. The act of Whistleblowing is by which an employee raises a concern that could threaten organization’s reputation.
The policy covers all the company’s stakeholders. Some examples of actions, which should be reported as a concern are cash & assets misappropriation, invoice frauds, inventory misuse, etc. However, complaints relating to employee’s personal circumstances and matters addressed under Human Resources’ disciplinary action / grievance procedures shall be Exceptions and not handled through the whistle blowing channels. The Head of Internal Audit shall be the Custodian for the all the whistleblowing reporting channels.
Guidance to Whistleblowers
The policy provides guidance towards matters that needs to be noted, cautions to be exercised and the information that could be expected from the whistleblower while reporting an incident.
Sunday, 20 June 2021
Clarification on Issued Article
Batelco notes the Bloomberg article dated 17 June 2021 relating to a potential dual listing of the Company. Batelco confirms that it has made a preliminary assessment of the potential merits of such transaction, as of now there is no filing with any stock exchange in relation to a potential dual listing and no decision has been taken. Any dual listing will be subject to regulatory approval.