Committees and Working Principles

Duties and Responsibilities 

• Receiving regular reports on the fulfillment of the duties from Internal Audit units and Independent audit organizations,
• In the event of matters or discrepancies in breach of legislation and internal regulations which may adversely affect the continuity and safe execution of the Bank’s activities, reporting these to the Board of Directors,
• Reporting its opinions along with the results of its activities, to the Board of Directors on the practices required or measures to be taken by the Bank, and on other matters deemed significant in terms of sustaining the Bank’s activities securely, within regular periods no longer than six months.

Duties and Responsibilities

The Corporate Governance Committee monitors the Bank’s compliance with corporate governance principles, undertakes improvement efforts in this area, and presents recommendations to the Board in line with the relevant legislation and the Bank’s ethical rules.

Duties and Responsibilities

• Performing the tasks assigned as an internal control officer about risk management, internal control, and compliance under the provisions of the Regulation on Internal Systems and Internal Capital Adequacy Assessment Process of Banks,
• Establishing internal systems for risk management, internal control, and compliance; ensuring their effective, sufficient, and appropriate functioning,
• Reviewing the strategies, policies, regulations, and guidelines on the activities of internal systems units in its remit before submittal for the Board’s approval; ensuring their effective implementation and maintenance,
• Coordinating the internal systems units in its remit,
• Notifying the Board to make sure necessary measures are taken to timely address and eliminate the errors or shortcomings in the practices of the internal systems units in its remit, as spotted by the Banking Regulation and Supervision Agency or independent auditors; evaluating such errors or shortcomings to coordinate internal control activities in the areas where identical or similar errors and shortcomings may arise,
• Updating itself regarding the risk exposure of the Bank and the means of measuring and managing such risks,
• And making sure adequate capital is maintained vis-a-vis the risks exposed through designing, establishing, and guaranteeing the implementation of ICAAP.

Duties and Responsibilities

The Executive Committee is in charge of, and tasked with, the following:
a)    It performs all tasks assigned to it by the Board of Directors.
b)    It is authorized to decide on the execution of amicable agreements, debt write-off, and release (before or after NPL status) with customers, guarantors, pledgers, and/or other third parties in the capacity of a debtor for amounts over 1% of the Bank’s equities, and provided such amounts do not exceed 10% of the Bank’s equities (no matter what type of a transaction it is).
c)    It is in charge of making decisions on real estate, participation, procurement of inventory, participation in projects, partnerships, and investments the amount and value of which reach up to 10% of the Bank’s equities.
d)    It conducts preliminary evaluation and presents it to the approval of the Board on all planned real estate purchases, participation, partnerships, and investments the amount and value of which exceeds 10% of the Bank’s equities.
e)    It is authorized to make decisions on any maintenance, repair, or renovation works, as well as material, commodity, equipment, and service procurements the amount and value of which is up to 10% of the Bank’s equities; to decide on annual expenditures not exceeding 10% of the Bank’s equities within the budget approved by the Board, and to approve internal regulations in this regard.
 

Duties and Responsibilities

• The Committee is authorized to specify, and take decisions on, the social responsibility projects the Bank will carry out and manage.
• The Committee is authorized to make onerous and/or voluntary in-kind and in-cash donations, provided the limits set forth by the Banking Law and similar/relevant legislation are not exceeded, and to donate, within the same limits, immovable properties to persons, entities, and/or organizations as it deems necessary onerously and/or voluntarily on behalf of the Bank.
• The Committee is also authorized to assign the aforementioned decision-making and executive powers to the departments of the head office and branches or to use these powers via these departments and branches.

Duties and Responsibilities

The Remuneration and Nomination Committee works to review the competitive edge of the Bank’s remuneration structure annually and monitor developments and best practices on remuneration. The Committee provides the Board of Directors with guidance on remuneration.