English - BMI Bank

Management Discussion and Analysis
• All risks identified and loss
data reported are analyzed
for underlying root causes
and mitigants put in place to
ensure that the root causes
do not pose a risk to the Bank.
• Risk mitigation techniques,
like insurance, are used where
appropriate.
The Bank has developed and
implemented a comprehensive
Business Continuity Plan (BCP)
to respond to events that disrupt
its operations at any location
within its network. The plan seeks
to quickly recover and resume
its most critical operations
with minimal disruption to its
operations. The plan addresses
several areas including data backup
and recovery, communication
with stakeholders and the use
of alternate physical locations
amongst others. The plan is
dependent on a number of
external vendors as well as their
responses in the event of a
disruption.
//Internal control
systems
Management is fully aware of
its responsibilities to the Bank’s
depositors and shareholders. A key
factor in the fulfillment of these
responsibilities is the strength of
the Bank’s operating procedures
and associated internal control
systems. These are designed to
address several critical issues
including the completeness,
accuracy and reliability of the
financial information that is used
to monitor and manage the
business and the need to provide
fast and efficient services to
customers.
The Bank addresses these issues
by maintaining clearly defined
operating procedures, which are
updated as and when necessary
to cope with the growth in the
bank’s size and complexity.
The operation of the internal
control systems is also reviewed
by the Bank’s Internal Audit
department, which reports
directly to the Audit Committee
of the Board of Directors.
The organization structure and
human resources policy of the
Bank are designed to ensure that
areas of the Bank’s operations
are managed and supervised
effectively by competent and
well-qualified staff.
//Outlook
The Bank remains committed to
its vision of long-term regional
growth and providing superior
returns to its stakeholders,
employees and the community in
which it operates.
The Bank will continue to work
towards further strengthening its
position, developing new products
and services, and achieving overall
excellence.
//Financial Statements
In accordance with the Central Bank of Bahrain Rules concerning Public Disclosure module, the
Pillar III disclosures are published separately on the Bank’s web site under the financials section and
this document has been reviewed by the Bank’s external auditors, Ernst and Young.
50 // BMI Bank Annual Report 2010
BMI Bank BMI Bank Annual Annual Report Report 2010 2010 // 51// 51