2005 - Asianbanks.net

11. Shall have the power to consider other matters assigned by the Board of Directors.
12. Shall advise the President and the Management Committee on matters concerning:
12.1 Personnel and organizational structure;
12.2 Lending;
12.3 Collateral;
12.4 Debt restructuring;
12.5 Expenditures;
12.6 Reduction of fees and interest rates on domestic and international businesses to the level lower than the Bank’s announced rates;
12.7 Opening, establishing, closing, discontinuing, relocation of offices or branches in and outside the country, assets quality, reserves and
risk evaluation;
12.8 Liquidity and capital funds;
12.9 Purchases of land/building/equipment for the Bank’s operations.
Meetings of the Board of Executive Directors
The Board of Executive Directors shall meet once every week, chaired by the Chairman of the Board of Executive Directors. If the Chairman
is indisposed, directors attending the meeting shall elect one member to chair the meeting. When the meeting discusses an issue of interest related
to any director, the director who is involved with related interest shall leave the meeting room to allow a free discussion of the issue.
Audit Committee
As at 31 December 2005, the Audit Committee consisted of:
1. Mr. Somkiat Sukdheva Chairman
2. Assoc.Prof.Dr. Somjai Phagaphasvivat Director
3. Assoc.Prof.Dr. Suchart Thada-Thamrongvech Director
Mr. Pongsak Harnsongkitpong served as the secretary to the Committee.
Charter of the Audit Committee
This charter, approved by the Board of Directors at its 695 th meeting on 21 April 2004, has been prepared to inform all concerned of power,
duties, and responsibilities of the Audit Committee.
1. Composition and qualifications
The Audit Committee shall consist of at least 3 members, a chairman and two members; all of whom shall be Bank’s directors and possess
all qualifications as required by regulatory agencies supervising commercial banks. At least two members shall be independent directors who satisfy
the Bank of Thailand’s definitions of independent directors. The Audit Committee shall be allowed to appoint one advisor, and a Bank’s officer who
possesses suitable qualifications to serve as secretary of the Committee
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