In view of the wide spread network of Al Baraka Banking Group (ABG) in many countries, and as a result of the overlap in the legal and regulatory systems in the countries of the Group and in order to improve and adjust its work in accordance with the legal and regulatory requirements, the Board of Directors of the Group has established a Committee within the Board's Committees, to be responsible for overseeing and monitoring compliance and governance in the Group and its various units. Through this process, the Group seeks to be one of the leading institutions in the field of compliance and governance in the banking industry, particularly with respect to banks with geographic reach. The Compliance and Governance Committee works closely with other Board committees to strengthen, control and monitor systems.
The overall objective of the Compliance and Governance Committee is to protect the Group from exposure to the risks of non-compliance and to strengthen governance controls, as well as periodically review the control systems, identify new risks not covered and establish appropriate controls to minimize them.
For more detailed information about the Committee’s duties, powers, and the periodicity of its meetings, please refer to the Group’s approved Corporate Governance Code at the following link