Bank Islam Integrated Annual Report 2020

To review, approve and monitor the business plans (strategic and annual), goals and key policies. To review and approve financial statements. To ensure that there is an appropriate succession plan for members of the Board and the Senior Management. To ensure that appropriate policies are in place, adopted effectively and are regularly reviewed. To review and manage principal risks and adequacy of the Bank’s internal control systems including systems for compliance with applicable laws, regulations, rules and guidelines. To be accountable to the shareholder, and to some extent, accountability towards a wider range of stakeholders affected by the Bank’s decisions. Board’s Responsibilities and Duties The Board is entrusted with the overall governance of the Bank, the responsibility to exercise reasonable and proper care of the Bank’s resources in the best interest of its shareholder as well as to safeguard its assets. The Bank is responsible for promoting its success by directing and supervising the Bank’s affairs in a responsible and effective manner. In discharging its collective responsibilities, the Board provides the Bank with stewardship, counsel and a broad range of expertise to the Management, champions good governance, high ethical standards and practices. The Directors are aware of their collective and individual responsibilities to the shareholder for the manner in which the affairs of the Bank are managed, controlled and operated. The Board is satisfied that it has fulfilled these duties and obligations during the financial year under review. In discharging its functions, the main roles and responsibilities of the Board are as follows: The above roles and responsibilities are clearly set out in the Board Charter. BANK ISLAM MALAYS IA BERHAD INTEGRATED ANNUAL REPORT 2020 131