Page 136 - Bank-Muamalat-AR2020

134 BANK MUAMALAT MALAYSIA BERHAD
ANNUAL REPORT FY2020
BOARD LEADERSHIP AND
EFFECTIVENESS
The Bank has zero
tolerance for any
conduct that constitutes
a wrongdoing or
malpractice which may
include any breach of
ethics as described in
the CoBC, conflict of
interests, bribery and
corruption, anti-money
laundering/combating the
financing terrorism, and/
or any fraudulent act as
may be described in the
Bank’s Anti Bribery Code
system and other relevant
documents.
About Us Our Leadership Our Strategy
About Us
All present Board members have attended and completed the Director’s Core
Training Programme under FIDE within the period stipulated under the Director’s
Training Policy of the Bank. In line with the MCCG 2017 recommended practice,
the Company Secretary facilitates the orientation of new Directors and assists in
directors’ training and development.
REMUNERATION OF DIRECTORS AND SENIOR MANAGEMENT
The Board has delegated to the BNRC the responsibility to oversee and recommend
the structure of the remuneration policy and frameworks for the Directors and
Senior Management. The Bank’s Directors’ Remuneration Policy has been developed
to attract and retain Directors of the calibre needed to spearhead the Bank.
The remuneration structure for Non-Executive Directors takes into consideration
the relevant factors including function, workload, responsibilities and time spent
for the preparation for the Board and Board Committee meetings. It comprises fees,
meeting allowance and benefits in kind. A premium is given to the Chairman of
the Board and Chairmen of Board Committees in view of their additional role in
guiding and managing the Board and Board Committees.
In line with good corporate governance practice, the Directors’ Remuneration
Policy/structure may be reviewed every three (3) years or as and when BNRC or
the Board deems necessary.
The remuneration for Non-Executive Directors is subject to annual approval by the
shareholders.
The CEO’s Corporate Scorecard and CEO-1’s Key Performance Indicators are
reviewed and tracked by the BNRC on an annual basis.
The individual and aggregate emoluments received by the Directors of the Bank
during the financial year ended 31 December 2020 are disclosed in Note 35(b) on
pages 113 and 114 of the Annual Report.