Governance is not just about adherence to a set of recommendations. It is a way of doing business and is at the heart of everything we do.
Balfin’s Corporate Governance objectives include:
- Promote integrity, transparency, accountability and responsiveness
- Ensure appropriate checks and balances
- Cultivate ethical business behavior through the Code of Ethics and Professional Conduct
Corporate Governance Framework
Effective corporate governance requires a clear understanding of the respective roles that constitute the management of the group and their relationships with others in the corporate structure.
This is performed in line with the overall objectives, plans and goals of business. Corporate Governance is integrated into a business` strategy and objectives and is not viewed simply as a compliance obligation, separate from the business` long-term business prospects, plans and objectives.
THE MAIN GOAL OF BALFIN GROUP CORPORATE GOVERNANCE IS TO RELY ON:
- Business Ethics
- Strategic Management
- Aligned Business Goals
- Effective Organization
- Disclosure, Transparency & Accountability
- Innovation and Continues Improvement
- Compliance with Laws and Regulations.
The Governing body of Balfin Group is the Management Board.
The Management Board is composed of:
CHAIRMAN AND SHAREHOLDER
CEO OF BALFIN GROUP
VICE PRESIDENTS (4 in total)
CFO OF BALFIN GROUP
Operational Director for Minor Investments
In our Corporate Governance we are guided by the principles that conserve the best aspects of an entrepreneurial culture which has brought success in the past while introducing the best aspects of professional management.
Balfin Group’s competitive advantage comes from developing its human capital. We have established talent attraction and nomination procedures for top management positions in the Group and the subsidiary levels and have increased the awareness and knowledge of managers on good governance benefits, thus involving them in governance improvement plan.
Balfin Group is continuously adopting and implementing principles, policies and practices of advanced corporate governance and is devoting sufficient resources to consistent implementation, that includes proper and ongoing corporate governance monitoring, corrective and evaluation mechanisms.
Corporate governance is one of its strategic priorities and its’ development contributes to the goal of the Group to become a regional and international leader. Corporate governance improvements are proactively communicated to stakeholders, and as appropriate to the general public, through the website, that is updated regularly to reflect improvement’s and developments.
One of the main indicators of Balfin’s success is the ethical behavior of its people. Our reputation, both as individuals and as corporate, depends on it. Everyone in Balfin Group has a responsibility to make sure that in their every day doing, they ensure that the name “Balfin” remains synonymous with excellence and professionalism. Balfin Group’s customers place their trust and money in us and in the work that we do. Each employee adheres to the highest ethical standards, not only providing services of the highest quality, but creating a business environment that reflects the fundamental beliefs of the Group including integrity, confidentiality and responsibility.
Balfin Group like all responsible and law-abiding business organizations acts according to the laws, rules and regulations of the State. The Leadership of Balfin Group has taken reasonable steps towards the development, implementation and maintaining an effective legal compliance program and the board is periodically reviewing such efforts to gain reasonable assurance that they are effective.