The Board of Directors is collectively responsible for the Corporate Governance of the Bank. The Bank’s Corporate Governance is driven by the Board’s principal responsibility to act in good faith, with prudence and within a set of values and standards that ensure that the stakeholders’ interests are fully understood and met. 

The major processes by which the Board fulfills its duties are described in this Corporate Governance Policy. The Board will continue to review and improve its processes and monitor developments in this area. 

The Board Audit Committee

The role, responsibility, composition and membership requirements of the Audit Committee are documented in the “Audit Committee Charter”. 

The Audit Committee of the Bank comprises at least 3 non-executive Directors.  

The Audit Committee assists the Board in fulfilling its corporate governance and oversight responsibilities in relation to compliance with financial reporting and regulatory requirements, integrity of financial statements and reports, and external and internal audit functions. The Audit Committee must meet at least 4 times per year in scheduled meetings.

 

The Board Risk Committee

The role, responsibility, composition and membership requirements of the Risk Committee are documented in the “Risk Committee Charter”. 

The Risk Committee of the Bank comprises at least 3 non-executive Directors. It assists the Board in fulfilling its corporate governance and oversight responsibilities in relation to compliance with Basel requirements and Internal Capital Adequacy Assessment Process (ICAAP) document; it evaluates and manages all key business risks by administering policies and procedures. The Risk Committee must meet 4 times per year in scheduled meetings.


The Board Compliance Committee

The role, responsibility, composition and membership requirements of the Board Compliance Committee are documented in the “Board Compliance Committee Charter”

The Board Compliance Committee of the Bank comprises at least 3 non-executive Directors.

It assists the Board in fulfilling its responsibilities in relation to the compliance with all applicable laws and regulations mainly those related to Anti-Money Laundering and Counter-Financing of Terrorism. The Board Compliance Committee must meet 4 times per year in scheduled meetings.


Management Committees

The Bank has established management Committees who are responsible for the day-to-day management of the Bank.

Each Committee functions according to its own charter, and they are listed here below:

  1. Management Committee
  2. Assets and Liabilities Management Committee
  3. Human Resources Committee
  4. Information Technology Committee
  5. Credit Committee
  6. Anti-Money Laundering and Compliance Committee
  7. Operational Risk Management Committee
  8. Information Security Committee
  9. Loan Recovery Committee
  10. Retail Credit Committee