Alba praised for its excellent corporate governance

Aluminum Bahrain B.S.C. (Alba) was selected amongst seven regional companies to be included in a landmark report on corporate good practices in accountability and transparency in the Gulf, and was also praised for its position on ethics, integrity and best business practices. The report was published by the Pearl Initiative, a private sector-led not-for-profit organization set up to improve transparency and accountability in the Arab world. It has been developed in partnership with the United Nations Office for Partnerships and is a center of excellence at the American University of Sharjah, UAE. The research for the regional report was conducted by MBA students from the University of Cambridge, United Kingdom and the American University of Sharjah. Alba’s success in developing and implementing its Code of Conduct was highlighted as a case study in fostering a culture of good governance, transparency and ethical conduct of business operations. The study also highlighted two critical factors for successful implementation – visionary leadership through active participation and example by the management; and a high level of employee and stakeholder involvement. Alba was also the only case study from Bahrain selected for the report. Commenting on Alba’s recognition in the regional report published by the Pearl Initiative, Alba’s Chief Internal Auditor, Bryan Harris said: “It is interesting to note that Alba’s Code of Conduct, which has been praised in this report, was developed in consultation with employees who were particularly adamant that it conforms to international standards without any compromise. With such enthusiastic support from employees, we are confident that it creates a strong foundation for developing an ethically minded organization that serves the interests of all of its stakeholders.” Alba’s Code of Conduct was officially launched in June 2011, and was developed with input from all departments, representing a diverse cross-section of nationalities, genders, religions, ages and organizational levels. It outlines the ethical parameters that govern the organization, sets rules in the way business is conducted, provides guidelines in interactions with customers, suppliers and other external bodies, enhances transparency, and ensures organizational behavior remains in line with the values of the company.