Bank Islam Integrated Annual Report 2020

Risk Management and Internal Control Framework The Board continues to maintain and review its risk management processes and internal control procedures to ensure a sound system of risk management and internal control to safeguard shareholders’ investments and assets of the Bank. Board Risk Committee (BRC) ěȃlj 9Ą: ƃȶǁ ɽȃlj ÃƃȶƃǼljȴljȶɽ ĄȈɰȟ :ɁȶɽɨɁȢ :ɁȴȴȈɽɽljlj ӯÃĄ::Ӱ ƃɨlj ɨljɰɥɁȶɰȈƹȢlj ǹɁɨ ljȶɰʍɨȈȶǼ ɽȃlj ljǹǹljƺɽȈʤljȶljɰɰ Ɂǹ ɽȃlj Bank’s risk management framework and policies. Comprising ǹȈʤlj ӯѸӰ ȴljȴƹljɨɰӗ ǹɁʍɨ ӯѷӰ Ɂǹ ʥȃɁȴ ƃɨlj Žȶǁljɥljȶǁljȶɽ ÇKAɰӗ ɽȃlj 9Ą: Ȉɰ ƺȃƃȈɨljǁ ƹʰ ˃Ȉ˃ƃȶ ȃȴƃǁӝ ěȃlj 9Ą: ƃɰɰȈɰɽɰ ɽȃlj 9Ɂƃɨǁ Ȉȶ ȴljljɽȈȶǼ ɽȃlj ljʯɥljƺɽƃɽȈɁȶɰ Ɂȶ ɨȈɰȟ ȴƃȶƃǼljȴljȶɽ ƃɰ ɰljɽ Ɂʍɽ ƹʰ 9Çà ƃȶǁ Ɂʤljɨɰljljɰ ɽȃlj Management activities in managing the various risks the Bank is subjected to and to ensure the effectiveness of the risk management process. yʍɨɽȃljɨ ǁljɽƃȈȢɰ Ɂȶ ɽȃlj 9Ą:ӗ Ȉɽɰ ƃƺɽȈʤȈɽȈljɰ ǁʍɨȈȶǼ ɽȃlj ǹȈȶƃȶƺȈƃȢ ʰljƃɨ ʍȶǁljɨ ɨljʤȈljʥ ƃɨlj ɰljɽ Ɂʍɽ Ȉȶ ČK:ěŽÝÇ 9Ӗ 9Ý ĄA :ÝÃÎěěKKČ Ɂȶ ɥƃǼljɰ ѴѸѶ ɽɁ ѴѸѻ Ɂǹ ɽȃȈɰ ŽȶɽljǼɨƃɽljǁ ȶȶʍƃȢ ĄljɥɁɨɽӝ ěȃlj Čɽƃɽljȴljȶɽ Ɂȶ ĄȈɰȟ ÃƃȶƃǼljȴljȶɽ ƃȶǁ ŽȶɽljɨȶƃȢ :ɁȶɽɨɁȢ provides an overview of the risk management and internal controls within the Bank and further details can be found Ɂȶ ɥƃǼljɰ Ѵѹѵ ɽɁ ѴѺѴ Ɂǹ ɽȃȈɰ ŽȶɽljǼɨƃɽljǁ ȶȶʍƃȢ ĄljɥɁɨɽӝ PRINCIPLE C: BOARD INTEGRITY IN CORPORATE REPORTING AND MEANINGFUL RELATIONSHIP WITH STAKEHOLDERS Communicating effectively with Stakeholders The Bank acknowledges the importance of conducting effective and open communication with stakeholders in order to improve disclosure and transparency. Bank Islam’s corporate website provides easy access to comprehensive and updated information on the Bank. The Bank is a wholly–owned subsidiary of BIMB Holdings Berhad, a listed company on Bursa Malaysia for the financial year ʍȶǁljɨ ɨljʤȈljʥӝ ƺƺɁɨǁȈȶǼȢʰӗ ɽȃlj 9ƃȶȟ ȢljʤljɨƃǼljɰ Ɂȶ 9ŽÃ9 ‰ɁȢǁȈȶǼɰ 9ljɨȃƃǁԇɰ ȈȶʤljɰɽɁɨ ɨljȢƃɽȈɁȶɰ ƃƺɽȈʤȈɽȈljɰ Ȉȶ ǁȈɰɰljȴȈȶƃɽȈȶǼ ɨljȢljʤƃȶɽ and material information on the Bank to its stakeholders. AȈɰƺȢɁɰʍɨlj Ɂȶ ŽȶʤljɰɽɁɨ ĄljȢƃɽȈɁȶɰ ƃƺɽȈʤȈɽȈljɰ ƺƃȶ ƹlj ǹɁʍȶǁ Ȉȶ 9ŽÃ9 ‰ɁȢǁȈȶǼɰԇ ŽȶɽljǼɨƃɽljǁ ȶȶʍƃȢ ĄljɥɁɨɽ ѵѳѵѳ ƃȶǁ Ȉɽɰ ƺɁɨɥɁɨƃɽlj website www.bimbholdings.com . 152 Accountabi l i t y Leader ship Financ ial Statement s CORPORATE GOVERNANCE OVERVIEW STATEMENT