Regulatory Alerts2018-09-20
A circular dated September 20, 2018 amending the periodicity of Board of Directors meetings and allowing participation by telephone or video call.
"I would like to emphasize on the importance of ensuring all board members' participation in board meetings either through phone calls or video conferences, and mention that, if any member cannot attend due to travel restrictions or other reasons, a report must be prepared by the management covering all agenda items of the meeting. This report should then be circulated to all board members, whether physically present or participating via telecommunications channels, along with recordings of the meetings - provided within the bank's internal policies. Any objections or alterations from any of the board members must be addressed by the board chairman during the next scheduled meeting attended by board members."
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governance