Board Committees

Please find below the current members of ADCB's main Board Committees.

Secretary: Rami Raslan

* Assessed as per the Bank's policies.

The primary responsibilities and functions of the Audit & Compliance Committee are to provide assistance to the Board to fulfil its duties to ensure and oversee:

  • The integrity of the Bank's financial statements;
  • The qualifications, independence, performance and remuneration of the Bank's external auditors;
  • The qualifications, independence and performance of the Bank's internal audit department;
  • The Bank's compliance with legal and regulatory requirements, and the Bank's internal policies; and
  • The Bank's internal controls, including controls over financial reporting and disclosure.

Generally, the role of the Audit & Compliance Committee is advisory in nature, with recommendations reported to the Board for final approval. However, in certain limited circumstances decisions may be taken by the Audit & Compliance Committee, which are binding on the Board; for example, approving the terms of engagement of the external auditor. The Audit & Compliance Committee holds a minimum of four meetings per year and provides regular reports to the Board.

Joint Secretary: Rami Raslan

* Assessed as per the Bank's policies.

The Corporate Governance Committee was established to oversee the development and implementation of ADCB's corporate governance strategy and action plan. In particular, the Corporate Governance Committee is responsible for:

  • Development of corporate governance procedures and best practices within the Bank
  • Compliance with regulatory requirements relating to corporate governance
  • Public reporting on corporate governance matters
  • Overseeing the annual Board evaluation process, and implementation of recommendations arising from that process
  • Ensuring compliance with the Bank's Code of Corporate Governance

The role of the Corporate Governance Committee is advisory. Recommendations are made to the Board for final approval.

Joint Secretary: Rami Raslan

Joint Secretary: Ali Darwish

* Assessed as per the Bank's policies.

The Nomination, Compensation & HR Committee is responsible for:

  • Ensuring the appropriate composition of the Board
  • Ensuring Independent Directors remain independent on a continuous basis
  • Selection and appointment of Directors
  • Orientation and training sessions for new and existing Directors
  • Succession planning for Board members and senior management
  • Selection and appointment of senior management
  • Performance assessment of the Board, individual Directors and senior management
  • Development, application and review of human resources and training policies
  • Determining ADCB's requirements for executive managers and employees
  • Remuneration policies for management and the Board, and the Bank's remuneration and incentive plans
  • ADCB's public reporting of remuneration matters

In determining the composition of the Board, the Nomination, Compensation & HR Committee considers the knowledge, skills and experience, which are anticipated to be required by the Board. No Director participates in any decisions regarding his own appointment or remuneration.

To view copies of the Policies & Procedures for Selection & Appointment of Directors, Directors' Skills Requirements and the CEO Performance Evaluation & Remuneration Policy click here.

The Nomination, Compensation & HR Committee is authorized to take certain appointment and remuneration decisions which may bind the Board. In all other cases, recommendations are made to the Board for final approval.

Joint Secretary: Rami Raslan

* Assessed as per the Bank's policies.

The Risk & Credit Committee is responsible for:

  • Development of risk management tools
  • Development and implementation of risk management strategies and limits, and the Bank's risk appetite
  • Compliance with regulatory requirements relating to risk management
  • Public reporting on risk management matters
  • Major credit commitments of the Bank

The Board Risk & Credit Committee may delegate certain of its responsibilities to management through the Management Executive Committee as it deems appropriate. During 2010, the Board delegated certain credit and lending authorities to management, at a level that the Committee considered to be reasonable and prudent. In making such delegations, the Board's aim was to refocus its attention on risk (including risk strategy and policy) issues, whilst retaining authority to approve credit and lending decisions above certain thresholds.