Executive Committee Charter

The Executive Committee Charter has been created to assist the Board of Directors of Ajman Bank in fulfilling its oversight responsibilities such as acting on behalf of the Board of Directors and recommeding to the board their findings...

Purpose
  • To assist the Board of Directors of Ajman Bank in fulfilling its oversight responsibilities:
    • To act on behalf of the Board of Directors and recommend to the Board their findings
    • To ensure coordination of activity among Board Committees
    • To serve as a sounding board for the Chairman of the Board in the overall management of the business and affairs of the Bank
    • To take decisions that have been referred to the Board based on the delegated level of authority
Authority
  • The Executive Committee acts as an advisor to the Board and reviews, assesses and makes recommendations to the Board of Directors on the various matters that are placed in front of the Board.
  • The Executive Committee has the authority to take decisions as per the limits indicated in the Delegation of Authority. However, the Committee has the mandate to review and recommend to the Board on the matters that have been placed before them even if they are over the delegated level of authority.
  • The Executive Committee may engage and pay legal and other advisors to assist the Committee in carrying out its functions. Such advisors may be the regular advisors to the Bank.
  • All recommendations to be made to the Board of Directors are to be taken by a simple majority. The casting vote in the event of a tie will be that of the Chairman of the Executive Committee.
Composition
  • The Board of Directors shall determine the number of directors to serve on the Executive Committee, which shall be at least three non executive members, of which at least one is an independent director / member.
  • The Board of Directors shall appoint members of the Executive Committee.
  • The Board of Directors shall elect the Chairman of the Executive Committee.
Meetings
  • The Committee shall meet, in person or telephonically, or by circulation of documents at least every month and as often as it deems necessary in order to perform its responsibilities.
  • Majority of the members must be present in order for a quorum to be achieved at the meeting.
  • Meetings of the Committee may be called by the CEO, the Chairman of the Board of Directors or the Chairman of the Committee.
  • The Committee shall keep such records of its meetings as the Chairman of the Committee considers appropriate.
  • At each regularly scheduled meeting of the Board of Directors, the Chairman of the Committee shall report to the Board on all meetings of and recommendations provided by the Committee since the last scheduled meeting of the Board. 
Responsibilities: The Committee shall be responsible for:
  • Assessing and recommending to the Board the annual review plan and strategy and schedule of activities of the Bank
  • Meeting periodically with the other Committees in separate executive session to discuss any matters that the Committee or the other Committees believe should be discussed privately
  • Review of management reports on business operations and make recommendations to the Board
  • Oversight of the investment and credit policies and take decisions as per the Delegation of Authority and recommend to the Board the specific investment and credit related decisions of the Bank for matters above the delegated authority
  • Initial review of regulatory reports on the Bank and provide recommendations to the Board (Copies of the full reports are provided to the Board and discussed at a Board meeting.)
  • Review and recommendations to the Board on acquisitions, divestitures, and joint ventures
  • Review and recommendations to the Board on the opening and closing of new branches
  • Oversight of the Bank's capital raising program, as approved by the Board of Directors
  • Review, amendment, and recommendation of policies that the Board has directed to be presented to the Board through the Committee
  • The Executive committee shall make reports to the Board of Directors when it deems appropriate
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