Regulatory Alerts2026-05-12
A circular dated May 12, 2026 confirming what was stated in the governance and internal control instructions regarding the expertise of members of the Board of Directors.
This circular mandates that banks must ensure board members possess diverse and specialized expertise in fields such as economics, banking, finance, law, accounting, and information technology. These requirements reinforce previous governance regulations aimed at enhancing the efficiency and decision-making capabilities of boards of directors. Financial institutions are formally instructed to strictly adhere to these professional criteria when nominating candidates for board positions to ensure all assigned responsibilities are fulfilled optimally.
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