| AfrAsia Bank is committed to best-in-class governance. Three Board Committees have been constituted with the following mandates: |
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| 1. |
The Audit Committee reviews and evaluates the internal control system, compliance and risk framework of the Bank, monitors the performance of the Internal and External Auditors of the Bank and reviews the audited financial statements of the Bank and integrity of accounting policies and rules used. |
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| 2. |
The Corporate Governance Committee approves the nomination and remuneration of the Directors and Senior Management of the Bank, reviews and advises on the general remuneration policy of the Bank and reviews the annual corporate social responsibility policies and related budgets. |
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| 3. |
The Credit Risk Committee approves the Credit and Risk Policy manual and updates which set out the credit granting process and limits for each of the Bank’s core business lines, reviews recommendations from the Management Credit and Risk Committee for credit facilities above its delegated limits and approves all operational risk issues and policies of the Bank. |
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| The Credit Risk Committee is solely constituted of independent board directors to ensure that AfrAsia Bank operates independently from its shareholders. |
