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HC-5.2.1

The Board must establish a remuneration committee of at least three directors which must:

(a) Review the Islamic bank licensee'sG remunerationG policies for the approved personsG and material risk-takersG , which must be approved by the shareholders and be consistent with the corporate values and strategy of the bank;
(b) Approve the remunerationG package and amounts for each approved personG and material risk-takerG , as well as the total variable remuneration to be distributed, taking account of total remunerationG including salaries, fees, expenses, bonuses and other employee benefits;
(c) Approve, monitor and review the remuneration system to ensure the system operates as intended; and
(d) Recommend Board member remuneration based on their attendance and performance and in compliance with Article 188 of the Company Law.
Amended: January 2017
Amended: July 2014
Amended: January 2014
October 2010
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