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Board Committees

Board Audit Committee(BAC):
Mr. Sohail Hasan Chairman
Mr. Ali S. Habib Member
Mr. Anjum Z. Iqbal Member

Terms of Reference of the Committee
The BAC is responsible under the Code of Corporate Governance to review and recommend to the Board of Directors (BOD), the interim and annual financial statements of the Bank particularly focusing on major judgmental areas, going concern assumption, change in accounting policies and estimates, related party transactions and compliance with applicable accounting standards.

The BAC is also tasked with the responsibility for reviewing and approving annual audit plan, scope and extent of internal audit and reporting framework and procedures. It also ensures adequacy of internal control systems of the Bank including financial and operational controls, accounting systems, reporting structures along with the Bank’s statement on internal controls prior to endorsement by the BOD. Further the BAC is updated regularly on significant issues raised by the State Bank of Pakistan (SBP) in its inspection reports, and observations raised by the External & Internal auditors along with the progress thereon.

The BAC also recommends to the BOD the appointment, re-appointment, removal and audit fees of external auditors.

The other functions of the BAC include consideration of major findings of internal investigations and monitoring compliance with the best practices of the corporate governance.

Board Credit Committee(BCC):
Mr. Muhammad H. Habib Chairman
Mr. Mohamedali R. Habib Member
Mr. Anjum Z. Iqbal Member
Mr. Mohsin A. Nathani Member

Terms of Reference of the Committee
The primary function of the BCC is to establish and maintain a system of oversight and supervision over the Bank’s credit portfolio/management/operations and to provide required direction and guidance on behalf of the Board of Directors (BOD). The Committee also oversees adherence to the Bank’s Credit Policy approved by the BOD. It periodically reviews and analyzes credit portfolio composition to monitor credit concentration risk and credit processes that ensure sustainable credit health of the portfolio.

Further, the BCC is tasked to review exposures exceeding a certain percentage of the Bank’s equity and devise mechanism for monitoring the same and also review non-performing loans and write off/remission allowed there against. It also ensures that the provisions made are in accordance with the Board approved policy and in compliance with the regulatory guidelines. The Committee may invite other officials of the management/audit for deliberation on matters relating to Credit/Credit Risk Management.

Board Human Resource and Remuneration Committee(BHR&RC):
Mr. Tariq Ikram Chairman
Mr. Firasat Ali Member
Mr. Mohsin A. Nathani Member

Terms of Reference of the Committee
The BHR&RC is responsible for the reviewing the HR policies, HR initiatives including manpower planning, learning & development policy, utilization of HR budgets and other HR activities.
The BHR&RC also recommends to the Board of Directors (BOD) compensation & remuneration practices and succession planning for CEO, CFO, Company Secretary, Head of Internal Audit. It also reviews Chief Executive’s recommendations for direct reports including key executives.
Further, the BHR&RC reviews and approves terminal benefits such as provident fund, gratuity and other separation benefits/schemes. In addition, it also considers any HR related issue specifically delegated by the BOD.

Board Risk and Compliance Committee (BR&RC):

Mr. Anjum Z. Iqbal Chairman
Mr. Firasat Ali Member
Mr. Mohsin A. Nathani Member

Terms of Reference of the Committee
The BR&CC establishes and maintain a system of oversight over the Bank’s Risk management, Compliance and control activities on behalf of the Board of Directors (BOD). It provides a platform for inculcating and enhancing Risk Management and Compliance culture within the organization whereby ensuring that all material risks are deliberated at this forum in an integrated manner. It is responsible for establishing and maintaining a Compliance and Risk management process with an enterprise wide approach, built to identify and prioritize risks including Compliance and AML/CFT related risks and to evaluate the alignment and effectiveness of activities including:

  • Recommending Risk Management Policies, Compliance Risk Strategy, Compliance Program and allied policies including AML /CFT and reviewing implementation thereof.
  • Review adequacy of compliance monitors and thresholds for transaction monitoring.
  • Evaluate significant observations / issues raised in the SBP inspection reports and review the actions taken in this regard.
  • Reviewing and approving Risk Appetite including risk limits and triggers as well as ensuring independence of Risk and Control Functions.
  • Reviewing and assessing the Bank’s Capital Management, Market/ Liquidity Profile, Credit Portfolio, Results of Stress Tests and Frameworks of Operational, Continuity, Fraud and Conduct Risks.

Board IT Committee (BITC))
Mr. Anjum Z. Iqbal Chairman
Mr. Firasat Ali Member
Mr. Mohsin A. Nathani Member

Terms of Reference of the Committee
The BITC establishes and maintains a system of governance and oversight of the Bank’s technology functions. It is responsible for advising and reporting to the Board of Directors (BOD) on the technology activities and digital initiatives. It also oversights technology risk management strategies and activities, receives periodic updates from ITSC and monitors all technology projects approved by the BOD for timely implementation.