Board Committees

The Board Risk and ESG Committee provides oversight and advice to the Group Board in relation to current and potential future risk. It also considers and helps direct future risk and ESG strategies, including determination of risk appetite and tolerance as well as promote a risk and ESG awareness culture among the Group. The Committee meets quarterly or more frequently as deemed necessary.

The Board Audit Committee ensures quality and integrity of financial statements and financial reporting. Effectiveness of the internal control, risk management, and governance systems. Effectiveness and independence of the compliance function. Effectiveness and independence of the Group Internal Audit function. Effectiveness of Islamic Financial Institution’s (IFI) governance systems and policies. Compliance with applicable laws and regulations. The Committee meets quarterly or more frequently as deemed necessary.

The Board Remuneration and Nomination Committee recommends and oversees the appointment and termination of Group Board Directors and succession planning for the Group Executive Committee members. This includes an assessment of the skills, knowledge and expertise needed to ensure they are positioned to discharge their responsibilities in the interests of the shareholders and FAB Group. The Committee also reviews and recommends to the Board FAB’s reward policy framework, approves and oversees reward design and ensures it is appropriate and consistent with the FAB Group’s culture, values, business performance and risk strategy. The Committee meets at least twice a year or more frequently as deemed necessary.