Page 159 - Bank-Muamalat_Annual-Report-2023

ANNUAL REPORT 2023
GOVERNANCE

REMUNERATION
i. Non-Executive Director’s Remuneration

The Non-Executive Directors are remunerated through fixed monthly fees, meeting allowances and benefits-in-kind,
inclusive of the reimbursement of utilities bills and business peripherals.
The level of remuneration of Non-Executive Directors reflects the current demanding challenges in discharging their
fiduciary duties, roles and responsibilities, whether individually or collectively, as well as the complexity of
the Company’s operations and the industry. The Non-Executive Directors’ remuneration/benefits remain unchanged,
since 2017.
ii. Disclosure of Directors’ Remuneration

Details of each Director’s remuneration for the Financial Year ended 31 December 2023:

Bank Muamalat Directors: Other
Fees emoluments Benefits in-kind Total
(RM) (RM) (RM)
Tan Sri Tajuddin Atan, FCB 428,082.98 49,000.00 76,486.24 553,569.22
Johari Abdul Muid 160,666.64 216,200.00 - 376,866.64
Tan Sri Che Khalib Mohamad Noh 160,666.64 97,000.00 - 257,666.64
Dato’ Ibrahim Taib 160,666.64 114,500.00 - 275,166.64
Ainol Roznain Yaacob 110,666.64 63,000.00 - 173,666.64
Md Khairuddin Hj Arshad 160,666.64 178,000.00 - 338,866.64
Mohd Razlan Mohamed 160,666.64 157,000.00 - 317,666.64
Roshidah Abdullah 160,666.64 121,500.00 - 282,166.64
Directors – subsidiaries

Md Khairuddin Hj Arshad 20,000.00 6,000.00 - 26,000.00
Dato’ Dr. Adnan Alias 7,473.04 3,000.00 - 10,473.04
(resigned wef 15 May 2023)
Roshidah Abdullah 20,000.00 6,000.00 - 26,000.00
Fakihah Azahari 8,333.30 3,000.00 - 11,333.30
(resigned wef 31 May 2023)

Total 2,649,442.04
In order to attract and retain qualified individuals to lead Bank Muamalat, the Board has delegated responsibility to the
BNRC to oversee and recommend the structure of the remuneration policy and frameworks for Directors and
Senior Management.
The remuneration structure for Non-Executive Directors is based on relevant factors, such as function, workload,
responsibilities, and time spent preparing for Board and Board Committee meetings. It includes fees, meeting allowances,
and benefits in kind. The Chairman of the Board and Board Committees receives a premium due to their additional
role in guiding and managing the Board and Board Committees.

The BNRC reviews and tracks the PCEO’s Corporate Scorecard and PCEO-1’s Key Performance Indicators annually.

157