The purpose of the executive committee is to:
Support the board of directors in carrying out its duties
- Support the chairman and managing director in guiding the bank in its day to day operations
In relevance to matters of the organizational and institutional framework; the budget implementation, acquisition or sale of assets, and new credit approvals are all established according to the credit authorities granted to the committee.
The purpose of the Corporate Governance, Nomination and Remuneration Committee is to:
Maintain an effective institutional and corporate governance framework
- Maintain an optimal board composition
- Maintain effective board process and structure
- Maintain a set of values and incentives for Group executives and employees that are focused on performance
- Promote integrity, fairness, loyalty and meritocracy.
The purpose of the Risk Committee is to:
- Assist the Board of Directors fulfill its risk governance responsibilities.
- Provide a Board-level forum to oversee the Bank’s risk culture and review the effectiveness of risk identification and management including the structures, processes and management systems within the overall risk management framework.
The purpose of the Audit committee is to:
- Maintain the adequacy of accounting and financial reporting policies, internal control and the compliance system of the Bank
- Maintain the integrity of the Bank’s financial statements and the reliability of disclosures to stockholders
- Maintain the appointment, remuneration, qualifications, independence, and effectiveness of the external auditors
- The independence and effectiveness of the internal audit function.
A number of Management Committees have been established to guide and control the operations of the Bank including the Asset Liability Committee, Human Resource Committee, IT Committee, Security and Business Continuity Committee, Management Committee, and Compliance and Anti-Money Laundering Committee. These committees are established to assist the Bank’s management in overseeing and implementing day-to-day business activities of the Bank, in accordance with its business plans and the strategic objectives set forth by the Board of Directors.