CORPORATEGOVERNANCE OVERVIEW STATEMENT The Board acknowledges that good governance is a critical component of strong financial institutions and plays a key role in maintaining public confidence in the financial system. Sound governance practices form the cornerstone of an effective and responsible organisation. Driven by its responsibility to shareholders and a broader group of stakeholders, the Board provides judicious leadership and strategic guidance to safeguard value-creation within a framework of rigorous and vigorous controls. In this regard, the Board is responsible in ensuring that the Group maintains effective governance on risk, internal controls and compliance with applicable laws and regulations. On 8 October 2021, BIMB achieved a significant milestone, where it took over the listing status of its parent company, BIMB Holdings Sdn Bhd (Formerly known as BIMB Holdings Berhad) (BHB). As a listed entity, our governance processes will continue to be strengthened so that we are aligned with the principles of good governance and recommended best practices and that our approach to disclosure remains timely and transparent. The Board has ultimate accountability and responsibility for the performance and affairs of the Group and ensures that its employees, shareholders, regulators, clients, suppliers, the environment and communities in which the Group operates, adhere to high standards of ethical behaviour. The financial year under review has been marked by unprecedented challenges. 2021 was another disruptive year as the world grappled with the COVID-19 pandemic that fundamentally changed the way businesses operate globally. The crisis has posed extraordinary risks and further revealed social inequities and economic insecurities. It brought to the fore the importance of good governance and a resilient Board leadership where focus is placed on business resilience, ability to manage the crisis, facilitate recovery, rebound and leverage on the opportunities to be ahead of competitors. We are pleased to present this Corporate Governance Overview Statement (CG Statement) for the financial year ended 31 December 2021. The CG Statement has made reference to the three (3) key Corporate Governance Principles in the Malaysian Code on Corporate Governance 2021 (MCCG 2021) which saw the introduction of new best Practices and further guidance to strengthen corporate governance culture of listed issuers. The Board considers that this CG Statement has also complied with the statutory requirements, principles and best practices set out in the Companies Act 2016, Bank Negara Malaysia (BNM) Corporate Governance Policy (BNM CG Policy) and following its listed status, with the Main Market Listing Requirements (MMLR) of Bursa Malaysia Securities Berhad (Bursa Malaysia). This CG Statement shall be read together with the Corporate Governance Report (CG Report) published on BIMB’s website at www.bankislam.com. The CG Report provides the details of how BIMB has applied each Practice as well as departures and alternative measures in place within BIMB during the financial year 2021. This CG Statement takes into consideration the features of the MCCG 2021 and the adoption by BIMB of the new best Practices and how they have been applied, explains departures if any and alternative Practices implemented. GOVERNANCE, ETHICS AND INTEGRITY Good corporate governance is key to the Group value creation and business excellence. The Group upholds the highest standards of integrity and ethics in the conduct of its business. Its continuous commitment to embed a culture of integrity and ethical behaviour underpins its ability to remain a resilient organisation. Guided by our best practices, we aim to create continued sustainable value for our stakeholders. Good governance in the Group is about ethical and effective leadership of the Board. The Board promotes and embraces value-creating governance to ensure sustainable long-term performance, long-term economic value and growth of the Group. BANK I SLAM MALAYS IA BERHAD 160
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