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Batelco Wins ‘Best Corporate Governance in Bahrain’ Award Prestigious Award Presented by World Finance Magazine

Batelco Wins ‘Best Corporate Governance in Bahrain’ Award Prestigious Award Presented by World Finance Magazine

Corporate Governance Award - Batelco ManagementManama, Bahrain: Batelco, Bahrain's leading integrated communications services provider, has been presented with theBest Corporate Governance in Bahrainaward by World Finance Magazine.

World Finance is a leading financial magazine, produced every two months by World News Media from its Headquarters in London. The World Finance Awards were created in 2007 to identify industry leaders, individuals, teams and organisations that represent the benchmark of achievement and best practice in the financial and business world. Votes are invited from users of the World Finance site as well as being requested via email from the World Finance database of over 40,000 industry decision makers.

Batelco Group Chief Executive Officer Peter Kaliaropoulos said that Batelco was proud to be selected from amongst the Kingdom's many companies to win the coveted award.

"We are extremely honoured for Batelco and the Kingdom to receive such recognition based on a voting system from international finance industry experts. Winning the Best Corporate Governance award confirms Batelco's high corporate governance standards and transparency."

"In recent years, Batelco employees and management have significantly raised the bar by reviewing processes and implementing best practice Corporate Governance initiatives across all areas of the Company. We perceive sound corporate governance as being critical to a sustainable and innovative business culture in Batelco Group which contributes to our competitiveness in the market," Mr. Kaliaropoulos said.

"World Finance Magazine is highly respected in business circles and we extend our thanks to its management team and its panels of voters who have selected us on this occasion." he added.

Batelco's commitment to principle-based, value-driven corporate governance is reflected in its approach which embraces the governance principles led by the Bahrain Ministry of Industry and Commerce and developed by the Central Bank of Bahrain (CBB).

Furthermore, in preparation for the introduction of mandatory Corporate Governance Compliance in the Kingdom of Bahrain from January 1st 2012, Batelco is taking all necessary steps during 2011, to ensure that the Company remains fully complaint and meets all the applicable requirements of the new Corporate Governance code.

The coveted award follows Batelco's success in 2010 when amongst many varied awards the Company was voted as Bahrain's Leading Quoted Company for Investor Relations (IR) at the Middle East Investor Relations (ME-IR) Awards ceremony held in Beirut, Lebanon.

"Winning such notable awards gives us the added motivation to remain abreast of developments in the area of Corporate Governance and to continue to evolve as one of the most reputable companies in the Middle East," concluded Mr. Kaliaropoulos.