Corporate Governance Framework

Bank Audi is governed by Board of Directors in accordance with the requirements set out in the Bank’s articles of association. The Board has overall responsibility of strategic oversight. Subsequently, it plays an active role in reviewing strategy, business plans and objectives while monitoring performance and the implementation of the strategy by Senior Executives. In parallel, the Board ensures the appropriate management of risk through a reliable system of controls. Risk governance remains at the forefront of the Board’s priorities. The Board sets the risk policies and the risk appetite and constantly monitors the Bank’s risk profile against the said appetite, hence maintaining tolerable levels of risk in pursuit of the Bank’s objectives.

The Board has developed Corporate Governance Guidelines that sets out key governance principles. In adhering to the responsibilities set out in these Guidelines, Board Members are committed to performing their duties with the highest ethical standards and professionalism in accordance with the principles and standards adopted in the Guidelines, and applicable laws in serving the interest of the Bank’s stakeholders.

Within this context, a clear organizational structure with well-defined accountabilities and responsibilities was designed and activated to ensure sound governance practices are carried out and streamlined across all Bank's functions and departments.

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