The Board has the overall responsibility to promote the sustainable growth and financial soundness of Bank Islam, and give direction and oversight to the management of the business and operations of Bank Islam.
The Board is assisted by the Company Secretary who is responsible for the following matters:
CORPORATE GOVERNANCE ADVISORY
- Advising the Board on its roles and responsibilities.
- Monitoring corporate governance developments and assisting the Board in applying governance practices.
- Facilitating the orientation of new Directors and assisting in Directors’ training and development.
- Advising the Board on corporate disclosures and compliance with Company regulation and other regulatory bodies.
- Notifying the Chairman of any possible violations of regulatory requirements.
INFORMATION FLOWS AND MEETINGS
- Managing the logistics and recording minutes of all Board and Board Committee meetings.
- Facilitating Board communication.
- Relaying Board and Board Committee decisions to Management to act upon.
- Managing processes pertaining to general meetings.
- Serving as a focal point for stakeholders’ communication and engagement on corporate governance issues.
Authority and Delegation
The Board has authorised the Management to execute certain functions to facilitate the day-to-day operations of Bank Islam. However, the Board Charter and the Board of Directors’ Terms of Reference prescribes that there are some matters which are specifically reserved for the Board.
THE SHARIAH SUPERVISORY COUNCIL (“SSC”)
The SSC forms an important part of the governance structure of the Bank, and functionally reports to the Board.
Duties and Responsibilities
In addition to the Board’s oversight accountability on Shariah compliance, the SSC was established to perform an oversight role on any Shariah matters and to advise the Bank in ensuring its business, affairs and activities comply with Shariah. The SSC’s primary duties and responsibilities are outlined in the
SSC’s Terms of Reference.
- Board Charter
- Terms of Reference of the following: