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Our Performance Sustainability Statement Our Governance Our Numbers Other Information
Governance

Organisation Structure Whistle Blower Protection Policy
A formalised organisation structure that provides clear The Whistle Blower Protection Policy is established to provide
demarcation of reporting and responsibility is established for an avenue for reporting any abuse or circumventing acts
ensuring proper assignment of authorities, segregation of duties committed by any person against the processes and controls
and accountability towards the Bank. of the Bank. All staff have the opportunity and responsibility
to disclose any misconduct or breach via the Whistle Blowing
Business Plan and Budget channel managed by a third party appointed by the Bank with
the assurance that it shall be dealt with in confidentiality and
The Board deliberates and approves the Bank’s annual business
plan and budget. The budget approval process is an important that the whistle blower’s identity is protected. All whistle
internal control mechanism used by the Bank to ensure an blowing reports from the appointed third party will only be
agreed allocation of resources and that the operational managers disclosed according to the matrix approved in the Policy.
are sufficiently guided in making business decisions. Anti-Bribery and Corruption Policy
A detailed budgeting process is established requiring all The Anti-Bribery and Corruption Policy is established during
key operating divisions/departments in the Bank to prepare the financial year in line with the implementation of Section
budgets and business plans annually for approval by the 17A Malaysian Anti-Corruption Commission Act 2009
respective Boards. The Bank’s budget and business plans as effective June 2020. The Bank adopts a zero-tolerance approach
well as strategic initiatives are discussed by the Bank’s senior against all forms of bribery and corruption in carrying out
management and the Board at an annual business planning and its daily operations. The Policy sets out the guiding
budgetary session. principles for the directors and employees of the Bank in
dealing with solicitation, bribery and other corrupt activities
Policies and Procedures
and issues in daily operations.
Policies, procedures and processes governing the Bank’s
businesses and operations are documented and approved by CONCLUSION
the Board for enforcement across the Bank. Policies and
procedures serve as a day-to-day operational guide to ensure The Board, through the BAC, has satisfactorily performed its
compliance with internal controls and the applicable laws and oversight role in ensuring there is a sound internal control
regulations. Regular reviews and updates are performed to the system and regular review on the adequacy and integrity of
policies and procedures to ensure continuous improvements the system within the Bank. An assurance on the effectiveness
in operational efficiency taking cognisance of the changing of risk management, control and governance process has been
industry profile on regulatory requirements, risks and internal obtained from the Management and Auditors (internal and
control measures for mitigation, and new products and services. external).

Authority Limits The Board is of the view that the internal control system has been
instituted throughout the Bank to safeguard the shareholder’s
The Authority Limits stipulate the governing principles of investment, customers’ interest and the Bank’s assets. The
decision making within the Bank that include appropriate Board recognises that risks cannot be eliminated completely
escalation and reporting to the Board. The Authority Limits and as such, the internal control system of the Bank is designed
encompass both monetary and non-monetary limits for to provide reasonable assurance against the occurrence of any
recommending and approving operational and management material misstatement, loss or fraud.
decision-making activities before its execution. The Bank has
in place an Authority Limits Policy to guide the administration The control structure and process for financial, operational,
and delegation of authority across the Bank. risk management and compliance elements, which have
been instituted throughout the Bank and its subsidiaries, are
updated and reviewed from time to time to suit the changes
in the business environment. This ongoing process has been
implemented to strengthen the Bank’s internal controls and risk
management system for the financial year under review.