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INTRODUCTION
The Board of Directors (Board) of Export-Import Bank of Malaysia Berhad
(EXIM Bank) is committed to high standards of good corporate governance
by continuously advocating transparency, accountability, responsibility
and integrity, subscribes to the Principles and Best Practices of Corporate
Governance as set out in the Bank Negara Malaysia’s Guideline on
Corporate Governance Standards on Directorship for Development
Financial Institutions (BNM/RH/GL 005-14) in achieving an optimal
governance framework and maximising the shareholder value of EXIM Bank.
THE BOARD OF DIRECTORS
Roles and Responsibilities of the Board
The Board is charged with leading and managing EXIM Bank in an effective
and responsible manner. Each Director has a legal duty to act in the best
interest of the Bank. The Directors, collectively and individually, are aware
of their responsibilities to shareholders and stakeholders for the manner
in which the affairs of EXIM Bank are managed. The Board sets EXIM Bank
values and standards and ensures that its obligations to its shareholders
and stakeholders are understood and met. The roles and responsibilities
of the Board of Directors shall be governed by the Development Financial
Institutions Act (DFIA) 2002, Companies Act 1965, BNM’s Guidelines on
Corporate Governance for Development Financial Institutions (BNM/RH/
GL 005-14) and the Memorandum and Articles of Association of the Bank,
including any guidelines as may be issued by the relevant authorities from
time to time.
The Board is also guided by its documented Terms of Reference (ToR) and
Board Charter (Charter) which define matters that are specifically reserved
for the Board and the delegated day-to-day management of EXIM Bank to
the President/Chief Executive Officer (P/CEO).
In particular, the roles and responsibilities are as follows:-
1. Business Direction
i) Provide strategic direction for the Bank by guiding top management
in developing corporate strategy. Review and approve strategies,
business plans, annual budget and significant policies that are in
line with the Bank’s mandated role and monitor Management’s
performance in implementing them.
CORPORATEGOVERNANCE
DISCLOSUREREPORT
048
EXIM Bank Annual Report 2013