AUB wins ‘Best Governance Bank in Kuwait 2018’ award

KUWAIT: Ahli United Bank (AUB) announced that it has won the ‘Best Governance Bank in Kuwait 2018’ award from Capital Finance International Magazine.

The award, which was granted by Capital Finance International, a leading business and financial services publication, reaffirms the appreciation of international institutions for AUB’s leading position in this vital field. The award-giving process reviewed corporate governance practices by focusing on a number of elements that include processes and policies followed in corporate governance applications, as well as internal and external auditing, protecting shareholders’ rights, the overall and independence of the board, risk management and transparency levels. Capital Finance International acknowledged that AUB, since its inception in 1941, is the oldest financial services provider of the country, sustaining a rich legacy that keeps it at the forefront of the banking sector.

The magazine highlighted that the Bank fully understands there is a need for regular communications with its stakeholders and reinforcing its relationship with regulatory authorities are both key to adapting to various industry requirements.

AUB’s commitment towards achieving corporate governance excellence is shown in its operating results and the Bank’s overall strong performance. The Bank continues to drive a leading position across the wider industry in terms of return on share and assets.

Commenting on receiving this award, Mai Mohammed Al-Saghir, AUB’s Board Secretary and Head of Corporate Governance said, “The recent accolade reflects the Bank’s excellence in corporate governance applications in 2018, and one which reaffirms its continued commitment to adhering to the strong corporate governance standards. We are pleased to have received this important award, and the recognition that AUB operates within a robust governance framework, which is a priority for the Bank, and a guiding principle for our operations. We will continue to manage this important recognition in the years to come.”

Al-Saghir also pointed out that, “AUB is committed to adhering to the policies placed by regulatory authorities in Kuwait with the underlying objective of achieving the excellence in what the Bank delivers to its audiences. The Bank also works with its employees to explain what these policies are to ensure the highest forms of transparency and governance are applied. We believe that effective governance across banks is an important and determining factor to drive business success, along with it being the core foundation of long term sustainable economic prosperity.”