Board of Directors' Responsibilities
- Reviews, approves and monitors the long-term strategic plan as well as the annual budget as presented by the Bank's senior management.
- Evaluates the Bank's performance on a regular basis.
- Enforces the Bank's policies and practices regarding compliance with applicable laws, regulations, and ethical standards.
- Implements and maintains appropriate systems for risk management and internal control.
- Ensures that the Bank's management and employees are operating in an ethically responsible manner.
- Approves credit lines that exceed the internal lending limit.
- Reviews and approves significant corporate actions, and recommends to the General Meeting of Shareholders to pass the appropriate resolutions in this respect whenever required.
- Oversees effective corporate governance.
- Approves the Charters of the various Committees at the Bank and monitors their performance.
The Bank's day-to-day activities are managed through 11 Committees, which have been established with specific missions, authorities, and responsibilities.