Board Committees


  • Audit Committee of Board

    Constitution:

    • Mr. Zafar Iqbal (Chairman)
    • Mr. Muhammad Waseem Mukhtar – Member
    • Mr. Muhammad Akram Sheikh (Member)

    Terms of Reference:

    Primary responsibilities of Audit Committee of the Board (ACOB) are to determine appropriateness of measures taken by the Management to safeguard Bank’s assets, review financial statements focusing on major judgmental areas, significant adjustments, going concern assumption, any change in accounting policies, compliance with applicable statutory and regulatory requirements and related party transactions. Recommend appointment of the external auditors and also coordinate with them to fulfill statutory and Code of Corporate Governance requirements. The Committee is inter-alia responsible to ascertain the effectiveness of the Internal Control System including financial and operational controls, ensuring adequate and effective accounting and reporting structure and monitoring compliance with the best practices of the corporate governance. ACOB is also responsible for keeping an oversight and quarterly review of the Internal Controls over Financial Reporting and review of all findings of SBP Inspection Report, Management Letter by external auditors and weaknesses identified in internal controls by Audit & Risk Review along with review of Bank’s Statement of Internal Controls prior to endorsement by the Board. The other function of the Committee includes assurance that an independent and effective internal audit function is in place.

  • Board Risk Management Committee

    Constitution:

    • Mr. Sheikh Mukhtar Ahmad (Chairman)
    • Mr. Abdul Aziz Khan – Member
    • Dr. Muhammad Akram Sheikh – Member
    • Mr. Tahir Hassan Qureshi (CEO) – Member

    Terms of Reference:

    The primary functions of Board Risk Management Committee (BRMC) includes monitoring of Management’s adherence to prudent and sound risk policies, assessing the ever changing risk profile and determining risk appetite of the Bank. BRMC also ensures development of risk management principles to build stakeholders confidence, safeguard and enhance reputation. BRMC also monitors quality of asset portfolio and suggest measures to keep the infected portfolio at the minimum level. The Committee approves risk limits for credit, market and operational risks, credit approval grid and proposals regarding write-offs above certain limits. In term of Bank’s recovery policy, BRMC considers and approves Debt-Asset-Swap proposals. It also monitors Bank’s Basel initiatives, including capital adequacy requirements and up-gradation of Risk Management Systems. The Committee also reviews, information security governance initiatives and periodical risk assessments. Overseeing of Asset Liability Committee (ALCO) and Risk Management Committee (RMC), Risk Management, Special Asset Management and Compliance functions is also undertaken by BRMC.

  • e-Vision Committee

    Constitution:

    • Mr. Mohammad Naeem Mukhtar (Chairman)
    • Mr. Zafar Iqbal – Member
    • Ms. Nazrat Bashir – Member
    • Mr. Tahir Hassan Qureshi (Member)

    Terms of Reference:

    One of the key functions of the e-Vision Committee is to provide strategic direction for e-banking and adoption of evolving technologies for providing new products and better services to its customers and to improve internal control environment. Review of strategic plans to improve IT infrastructure and automation of processes and systems including alternate delivery channels are within the scope of the responsibilities of the e-Vision Committee. The Committee provides assistance to the Board with insights regarding international developments in the field of e-banking evolving technologies for adoption; keeping in view the Bank’s requirements. It also oversees performance of IT Steering Committee (ITSC), Information Technology functions. Besides the above, the Committee also decides in principle on matters related to acquiring/replacing/upgrading technology, software and hardware such as banking solutions, ATMs etc. involving Rs. 15 million and above.

  • Human Resource & Remuneration Committee

    Constitution:

    • Mr. Abdul Aziz Khan (Chairman)
    • Mr. Muhammad Waseem Mukhtar (Member)
    • Dr. Muhammad Akram Sheikh – Member

    Terms of Reference:

    Human Resource and Remuneration Committee (HR&RC) defines the organizational structure and functional responsibilities of all areas of the Bank. It approves staff strength, key appointments, salary revisions, bonuses and special allowances and recommends to the Board appointment, remuneration bonuses/ performance awards, terms and conditions of employment and other benefits of the key position holders. HR&RC also monitors the utilization of training & development budget and implementation of approved training & development policy. The Committee nominates the Bank’s directors and management personnel on the board of other companies / subsidiaries. HR&RC also recommends Remuneration Policy and other Human Resource related policies to the Board, besides monitoring performance of Human Resource Committee and Human Resource function. Besides the above, the Committee also ensures that a fair, transparent and competitive remuneration mechanism is developed and put in place to encourage the culture of ‘pay for performance’.

  • Strategic Planning & Monitoring Committee

    Constitution:

    • Mr. Muhammad Waseem Mukhtar (Chairman)
    • Mr. Abdul Aziz Khan (Member)
    • Ms. Nazrat Bashir – (Member)
    • Mr. Tahir Hassan Qureshi (Member)

    Terms of Reference:

    Strategic Planning & Monitoring Committee (SPMC) is responsible to review medium to long term strategic plans, operational plan and budget of the Bank before Board’s consideration / approval. The Committee also monitors progress against above referred plans and budget. SPMC is also responsible to approve capital expenditure over Rs.15 million and donations of over Rs.1 million up to Rs.5 million and approved disposals of properties irrespective of the sale price of property. SPMC is also responsible to assist the Board on corporate development activities and new initiatives including, but not limited to acquisitions, mergers, alliances, joint ventures and divestitures etc. SPMC also oversees performance of management committee (MANCO) and Fair Treatment of Customers (FTC) Committee, Corporate Investment Banking, Commercial and Retail Banking, Islamic Banking, Treasury, Finance, Banking Services, Corporate Affairs, Digital Banking, General Services & Security and Real-Estate, Engineering & Infrastructure functions of the Bank.