Bahrain Islamic Bank Takes the Lead as the First Bank in Bahrain to Obtain the Iso Certificate for Business Continuity Management System
Press release
Chief Executive Officer of BisB, Mr. Hassan Jarrar.
Highlights
Bahrain Islamic Bank becoming the first institution in the Kingdom of Bahrain, the second in the Middle East, and among the very few institutions worldwide to obtain the certification in its latest edition.
Bahrain Islamic Bank (BisB) recently obtained the ISO 22301:2019 certification for Business Continuity Management System (BCMS), becoming the first institution in the Kingdom of Bahrain, the second in the Middle East, and among the very few institutions worldwide to obtain the certification in its latest edition. This comes as part of the bank’s efforts to address potential risks or disruptions, and its commitment to adhere to best practices in this field.
The ISO 22301:2019 standard enables organizations to assess their competencies and ability to meet their business capabilities and obligations to ensure business continuity, even in the event of an emergency. The standard indicates the requirements for continuously planning, implementing, operating, maintaining and improving a BCMS, in which BisB remains committed to developing through its dedicated internal teams. The latest edition of this ISO certification was launched in October of 2019, replacing the previous edition (ISO 22301: 2012) and became certifiable from April 30, 2020. Recently, BisB has implemented several preventive measures and developed various strategic plans with an aim to protect its employees and customers and reduce the impacts of any emergency.
“This achievement of obtaining the ISO 22301:2019 certification reiterates our commitment to the continuous development of our information security systems with the aim of protecting against, preparing for, responding to, reducing the possibility of occurring and recovering from any emergencies if they arise. We consider the development of our business continuity management system a top priority in order to be able to quickly overcome any emergency that may arise at any given time, the COVID-19 outbreak notwithstanding, in order to maintain the health and continuity of our business while ensuring a seamless delivery of products and services,” said the Chief Executive Officer of BisB, Mr. Hassan Jarrar.
“This international system demonstrates the importance of being able to maintain resilience during the occurrence of unexpected events and our ability as a Bank to follow internationally recognized and accepted systems, to ensure that it adheres to best practices,” he added.
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Background Information
Bahrain Islamic Bank
Incorporated in 1979 as the first Islamic bank in the kingdom of Bahrain, and the fourth in the GCC. Bahrain Islamic Bank (BisB) has played a pivotal role in the development of the Islamic banking industry and the Kingdom’s economy. The Bank operates under an Islamic Retail banking licence from the Central Bank of Bahrain and is listed on the Bahrain Bourse.
At the end of 2016, the Bank’s paid up capital was BD 101 million, while total assets stood at BD 1042 million. The Bank’s modern branch network comprises 5 branches, 4 innovative financial malls, and 56 ATMs located throughout the Kingdom. A steadfast focus on continuous innovation, strong corporate governance and risk management, employee development, and the use of state of the art technology to deliver superior customer service, has cemented Bahrain Islamic Bank’s position as the leading Sharia’a – compliant bank in the Kingdom.
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