Seera is committed to effective corporate governance, as this is a key aspect of the Bank’s strategic direction and encompasses the Bank’s overall operating mission.
The Bank’s governance strategy:
- Forms an integral part of the Bank’s strategic direction
- Sets and enforces clear lines of responsibilities and accountability throughout the organization
- Ensures that there is appropriate oversight by the Board of Directors and senior management
- Safeguards the interests of stakeholders and other third parties
- Ensures that the Bank’s operations are effectively and efficiently managed
- Fulfills regulatory requirements
- Ensures that the Bank conducts its activities in a Shari’a compliant manner
- Enforces a high level of standards
Major components of the strategy include adherence to codes of conduct, as well as oversight by the Board of Directors and the Board of Directors Committees, the Shari’a Board, and also approval authorities and limits, and policies and procedures.