Page 134 - Bank-Muamalat-Annual-Report-2021

132 BANK MUAMALAT MALAYSIA BERHAD
ABOUT US OUR LEADERSHIP OUR STRATEGY OUR PERFORMANCE

BOARD LEADERSHIP AND
EFFECTIVENESS

communicated to the Board. ii. Board Meetings and Access to Information

The following categories of assessments were embedded Directors are given due notice of proposed meetings,
into the 2021 BEE questionnaires: allowing Directors to lock in their timings, and for advance
planning. The detailed Agendas and the detailed Board/
• Board Assessment to assess amongst other the
Committee meeting materials are shared and uploaded
Board’s structure, size, composition (mix of skills,
electronically prior to Board/Board Committees meetings.
experience and competency), quality of information,
deliberation and decision making including how The Board meets every month with additional meetings
Directors challenge matters discussed. convened as and when urgent issues and/or important
decisions are required to be made between the scheduled
• Individual Directors’ Assessment (including meetings. Scheduled Board meetings are structured with
Independent Directors) to assess amongst others the certain pre-set agenda.
respective Directors’ ability to critically challenge and
ask the right questions, character and integrity in dealing Directors can participate in Board and Committee meetings
with potential conflict of interest situations, commitment in person, or via virtual platforms such as Zoom or Teams.
to serve the Bank with due diligence and integrity, During the MCO and recovery MCO, Directors utilised
critical and vigilant in offering alternative points of view, digital means to participate in meetings. Virtual meetings,
fit and properness and independence of the digital means, and use of technology were implemented
Independent Directors including level of independence successfully during the year.
in exercising his/her judgment and ability to act in the
best interest of the Bank. Minutes of the meetings, together with a summary of the
action items are circulated to all members of the Board
• Board Skill Set Assessment to assess amongst others prior to meetings.
the Board’s leadership and strategy, legal and regulatory
At each meeting, the Board receives updates from
requirements, banking and finance, corporate
the respective Chairmen/representatives of the Board
governance, Shariah governance, risk management and
Committees on matters that have been deliberated at
internal controls, accounting and financial reporting and
the Board Committees, as well as on matters that require
operational management.
Board’s attention. Other Heads of Division and external
• Board Committee Effectiveness Assessment advisers may be invited to attend the meeting to advise the
(including Shariah Committee) to assess amongst Board on certain matters under discussion. Directors will
others, the Committees’ Structure (size, composition have the opportunity to discuss specific areas with them and
and member classification), quality of information, where relevant, challenge the ideas presented. The Chief
deliberation and decision making including how Financial Officer attends all Board meetings by invitation,
members challenge matters discussed, accountability while the relevant Senior Management Officer of Bank
and responsibilities and effectiveness of the Board Muamalat are invited to attend Board meetings to brief
Committee including its terms of reference, processes and provide details to the Directors on recommendations
and reporting line. or reports submitted to the Board.

• Individual Board Committee Members’ Assessment The PCEO and Head of Business, Operations, Support
(including Shariah Committee) to assess amongst and Control functions provides an update on the Bank’s
others the Committees’ dynamics and participation and business and operations, regulatory and compliance
Fit and Proper criteria. updates as well as a macro perspective on industry trends
and developments. The Chief Financial Officer presents the
financial performance and significant financial highlights.
All important deliberations, decisions and conclusions are
recorded in the Board meetings’ minutes.