Annual Report - Ahli United Bank

ahliunited.com

Annual Report - Ahli United Bank

CorporateGovernanceBOARD OF DIRECTORSThe Board is collectively accountable to and reports to the collective body of shareholders of Ahli United Bank B.S.C in respect of the overallgovernance, direction and control of the Bank’s affairs on behalf of the shareholders. It has ultimate authority for the management of theBank, but in practice delegates this duty to the Group CEO and Managing Director. It also delegates certain other of its responsibilities tocommittees it establishes with defined mandates.BOARD OF DIRECTORS[10 members in total comprising4 independent non-executive Directors , 4 non-executive Directors and2 executive Directors including the Group CEO & MD]AUDIT & COMPLIANCE COMMITTEE EXECUTIVE COMMITTEE COMPENSATION COMMITTEE[4 members comprising3 independent non-executive Directorsand 1 non-executive Director][6 members comprising1 independent non-executive Director,3 non-executive Directorsand 2 executive Directorsincluding the Group CEO & MD][3 members comprising1 Independent non-executive Directorand 1 non-executiveand 1 executive Director]The classification of “executive” Directors, “non-executive” Directors and “independent non-executive” Directors is as per definitionsstipulated in the Central Bank of Bahrain Rulebook.The Executive Committee assists the board in discharging the Board’s responsibilities relating to matters including credit and marketrisk matters.The Audit & Compliance Committee assists the board in discharging the Board’s responsibilities relating to the bank’s accounting policies,internal audit controls, compliance procedures, risk management system, financial reporting functions and liaison with the bank’s externalauditors and regulators. The committee does not oversee the day to day work of management and has no executive powers.The Compensation Committee has been established to provide an efficient mechanism for reviewing the bank’s compensationarrangements for its management, staff and directors and making recommendations for the board’s own approval on these matters.COMPENSATION COMMITTEEThe Compensation Committee has been established to provide an efficient mechanism for reviewing the Bank’s compensationarrangements for its management, staff and Directors and making recommendations for the Board’s own approval on these matters.The Chairman and members of the Committee are appointed by the Board from amongst its Directors. The Committee comprises3 members including one Independent Director.The Group Head Human Resources & Development acts as the Secretary to the Committee.26 AUB Annual Report 2009

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