Business Continuity Plan

Business Continuity Plan (BCP) – Disclosure Statement

Asia Al-Iraq Islamic Bank’s mission is to be a world class bank by focusing on service excellence and product quality. The bank has adopted industry leading best practices to establish a set of operating principles which govern how risks of a significant business disruption are mitigated to protect the Bank’s customers, employees and stakeholders.

The bank has a robust and well-defined business continuity program which comprises of policies and procedures with clearly defined roles, responsibilities and ownership for Crisis Management, Emergency Response, Business Recovery and IT Disaster Recovery Planning. The bank’s BCP Steering Committee, represented by the senior executive management of the bank, approves and oversees the annual BCP strategy and road map.

The bank has a BCP site and a Disaster Recovery Site, where data is mirrored and backups are stored. Regular drills and tests are conducted to cover all aspects of the Business Continuity Plan. Plans are reviewed and maintained regularly to incorporate any changes to environment, people, process and technology. The bank’s BCP team continuously works towards strengthening the business continuity preparedness of the bank.

The bank’s business continuity program is developed to manage the impact of significant disruptions and will endeavour to resume business and operations to an acceptable level within a reasonable time in the event of a disaster. While the recovery time objectives (RTO) have been defined and documented in the plans, various external factors beyond our control could affect the actual recovery time.

The banks business continuity plan complies with the guidelines issued by regulatory bodies and is subject to regular internal, external and regulatory reviews. The bank’s Internal Audit department conducts an annual review of the business continuity program.0.