Regulatory Alerts2022-11-14
Guidelines on Corporate Governance for Banks and Financial Institutions Licensed by the Bank of Botswana
The Bank of Botswana issued these guidelines to establish corporate governance standards for all licensed banks and financial institutions under its supervision. The framework mandates fit-and-proper assessments for directors and senior management, requires boards to comprise at least five natural persons with a majority of independent non-executive directors, and enforces strict attendance records, ten-year term limits, and robust risk governance practices. Implementation scales proportionately to each institution’s size and complexity while ensuring transparency, accountability, and enhanced shareholder value.
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