The Bank’s Corporate Governance Policy is directed not only towards the regulatory and legal requirements but also towards adherence to best business practices, transparency, and disclosure to the stakeholders. The Bank has established a culture of best practices in Corporate Governance. The Bank’s Corporate Governance Framework is based on an effective independent Board that is not involved in day-to-day management, and the constitutions of different Board committees with independent directors to oversee critical issues.
The Bank has adopted three core principles of corporate governance, i.e. integrity, transparency, and fairness. Good Corporate Governance has been an integral part of the Bank’s policy in order to safeguard the interest of its shareholders and stakeholders, and for providing the highest level of service to its customers.
The Bank has formulated and implemented “Corporate Governance Policy, 2023” which shall further strengthen the Bank’s Corporate Governance practices and values across all levels and activities of the Bank.
The main objectives of the policy are as follows:
- To lay down a framework for achieving the vision, mission, and objectives of the Bank in an effective and efficient manner,
- To lay down a foundation for sound organizational development, planning succession, control, and performance,
- To lay down a comprehensive framework that instills, monitors, reviews, and reacts to pertinent corporate governance issues so as to protect the legitimate interest of all the stakeholders,
- To ensure that all activities of the Bank are carried out in due compliance with applicable acts, regulations, and directives, and
- To lay down a broad framework for formulation of other policies, manuals, and guidelines of the Bank
In line with the requirement of Point No. 9 of the Directive No. 6/2079 issued by Nepal Rastra Bank, a separate Corporate Governance Unit under Internal Audit Department has been formed. Further, to oversee the Overall Corporate Governance standard of the Bank, Corporate Governance Committee compromising of following Member has been constituted.
|Deputy Chief Executive Officer||Coordinator|
|Chief Risk Officer||Member|
|Chief of Experience Assurance Ecosystem||Member|
|Chief Legal Officer||Member|
|Chief Development Officer||Member|
|Official Designated by Chief Executive Officer||Member|
|Head Internal Audit||Member Secretary|