Page 130 - Bank-Muamalat-Annual-Report-2021
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128 BANK MUAMALAT MALAYSIA BERHAD
ABOUT US OUR LEADERSHIP OUR STRATEGY OUR PERFORMANCE
BOARD LEADERSHIP AND
EFFECTIVENESS
BOARD CHARTER
The Board Charter formalises the various roles and responsibilities of the Board, Board Committees and individual Director of
Bank Muamalat with the aim of streamlining and enhancing corporate governance practices towards transparency, accountability
and integrity in boardroom activities.
The roles of the Chairman, Non-Executive Directors and President & Chief Executive Director are set out in the Board Charter
(Charter).
The Charter is available online at https://www.muamalat.com.my/downloads/corporate-overview/Board-Directors/Board-Charter-v3.0.pdf
The following summarises the list of Matters Reserved for the Board’s deliberation and decision:
• Strategic decisions which are, or may be significant, in terms of future profitability of the Bank
• Decisions on significant/material matters on capital and finance
• Adoption/changes to the Constitution or terms of reference of Board/ Board Committees
• Decision in relation to delegation of authority
• Decision on appointments and removal of any member of the Board, or the company secretary, or the senior management, a
director from the Chairmanship of the Board and external auditors or other professional advisors.
• Significant and/or connected party contracts and transactions or contract that involves conflict of Director’s personal interest.
• Disclosure on financial information/reports for publication as well as presentation to Shareholders or disclosure on material
information that may affect the image of the Bank
• Policy governing the Board Meetings
• Payment by Bank arising out of material legal disputes
Further details on Board Reserved Matters can be found in the Board Charter.
THE BOARD
The Board comprised eight Directors, of whom five are Independent Non-Executive Directors (“INEDs”) and three Non-Independent
Non-Executive Directors (“NINEDs”).
The Board takes cognisance of the requirement of BNM CG in relation to the board composition with a majority of independent
The Diversity of the Board is analysed and summarised on page 106 of this Annual Report
