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Responsibility of the Board and Committees

Responsibility of the Board

The Board of Directors’ have a collective responsibility for setting the strategic objectives and ensure that management maintains systems of risk management and internal controls that provide assurance of effective and efficient operations and compliance with all the applicable laws and regulations.

Board Committees

The Board has established Committees to increase efficiency and allow deeper focus in specific areas. All the Committees function in accordance with their respective charters and provide periodic updates to the Board on matters arising.

There are presently four Committees, namely:

  • Credit and Investment Committee
  • Risk Committee
  • Audit and Compliance Committee
  • Nomination and Remuneration Committee

Committee Member Position
Credit & Investment Committee Mr.Khalid Al Rostamani Chairman
Mr. Abdulla Al Hathboor Member
Mr. Ali Al Fardan Member
Mr. Buti Al Ghandi Member
Mr. Shehab Gargash Member
Audit & Compliance Committee Mr. Hamid Kazim Chairman
Mr. Ali Al Fardan Member
Mr. Buti Al Ghandi Member
Sheikh Maktoum Hasher Al Maktoum Member
Risk Committee Mr. Shehab Gargash Chairman
Mr. Buti Al Ghandi Member
Mr. Hamed Kazim Member
Sheikh Maktoum Hasher Al Maktoum Member
Nomination & Remuneration Committee Mr. Humaid Al Qutami Chairman
Mr. Abdulla Al Hathboor Member
Mr. Buti Al Ghandi Member

Credit and Investment Committee

The role of the Credit and Investment Committee is primarily to review the Bank’s credit and investment portfolio and oversee the effectiveness and administration of credit related policies to include approve applications and investments that are above Managements limits. The Committee also develops investment policies and procedures and monitors Managements compliance with the Bank’s credit guidelines.

Risk Committee

The Risk Committee in conjunction with the Board is responsible for setting the overall risk appetite parameters and limits within which the Bank may conduct its business. The Committee monitors the risks inherent in the businesses of the Bank and the control processes in regards to such risks, including market risk, credit, liquidity, fiduciary, regulatory, reputational, strategic and operational risks.

Audit and Compliance Committee

The Audit and Compliance Committees key role is to ensure that the Bank has a robust system of risk management, internal controls and compliance with legal and regulatory obligations to which the business is subject. The Committee regularly reviews the audit and compliance policies, procedures and the selection, appointment and independence of the External Auditor to ensure there is appropriate transparency and disclosure to the Board on operational risk to include reporting of any transaction that maybe fraudulent.

Nomination and Remuneration Committee

The Nomination and Remuneration Committees key focus is to ensure that the Bank’s policies and procedures on remuneration, recruitment, retention and performance is in line with the Bank’s strategic goals and objectives and is competitive in order to attract and retain the best talent.