Burgan Bank (“the Bank”) is committed to the highest standards of corporate governance and recognizes that good governance is pivotal in helping the business to deliver its strategies whilst generating sustainable shareholder value and meeting its obligations towards shareholders and other stakeholders.
As an essential part of this commitment, the Bank operates within a well-defined governance structure and embeds governance principles and practices in its operations based upon the four cornerstones of accountability, transparency, fairness and integrity. The Bank follows the guidelines of the Central Bank of Kuwait, which are based on Basel Committee recommendations on Corporate Governance as amended from time to time.
The Bank also counts on the community’s support and partnership in advocating excellence in corporate governance. Hence, the Bank appeals to all other market players for joining the Bank in contributing to a continuous enhancement of its quality by practicing good corporate governance not only for the corporate growth, but also for the prosperity of the State of Kuwait.
The Board of Directors (“the Board”), acting on the recommendations of its Corporate Governance Committee, has adopted this Corporate Governance Manual (“CG manual”) that incorporates the established corporate governance policies and practices in accordance with the Central Bank of Kuwait Circular (2/RB,RBA/284/2012) dated 20 June 2012. Through this manual, the Board aims to promote adherence and further strengthen the Bank’s commitment to good Corporate Governance.
This is the latest approved CG manual as of May 2016, the provisions under this CG manual shall apply to the Board of Directors, the Executive Management, employees and the service providers of the Bank.