Page 137 - Full Book_24.4.2021

In Retrospect

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The Will to Suceed

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InDepenDent DIreCtOr InDuCtIOn prOGraM
The BNM CG Policy and the MMLR Policy mandates that a majority The Board has in place a comprehensive induction program to
of directors of the Board must be independent. Independent assist with the onboarding of new Directors. Upon appointment, Achieving a Leading Repute
Directors contribute to the Board’s role in ensuring good corporate all new Directors must attend the induction program to
governance practices are applied to promote objectivity and facilitate their immersion into their role and to assist them in
independence in the Board’s deliberations and decision-making understanding various aspects of BHB and Group’s business
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process. The presence of a majority of Independent Directors on strategy and operations. The induction program is organised
the Board also facilitates an effective and independent oversight no later than three (3) months upon the appointment of the
over the Management, and provides the necessary checks and Director and may take up at least two (2) days to complete. The
balances in ensuring the Company operates in a safe and sound programme includes a session with the Chief Executive Officer
manner. and the Company Secretary covering BHB’s governance structure, Paving the Way for a Sustainable Future
business, reporting procedures and access of information, and
BHB’s criteria for independence is set out in the Board Charter. a session with the Key Senior Officer of the respective key
One of which is the requirement for all Independent Directors operating subsidiaries to provide better understanding of the
to declare their independence on a monthly basis. The Board Group’s core business and its whole operation.
evaluates and assesses the Directors on an annual basis through
a board evaluation process. Through this formal process, Directors are also provided with a Director’s Handbook consisting
Independent Directors are also assessed on their ability to provide of the Board Charter, the Company’s Constitution, the Board and
strong and valuable contributions to the Board’s deliberations in Board Committee’s Terms of Reference, the latest Annual Report 131
the best interest of BHB, without any interference. of BHB and other relevant policies and guidelines.

For the year under review, the BNRC has considered the
independence of each Independent Director in office and DeveLOpMent anD traInInG
has concluded that each Independent Director has met the
independence criteria as set out in the MMLR and the BNM CG As part of on-going professional development for Directors, an
Policy. The Board is generally satisfied that each Independent Individual Development Plan (“IDp”) was established for Directors
Director has remained independent in their character and to identify required training for Directors to keep abreast with the Adhering to the Best Governance Practices
judgement and is free from relationships or circumstances which changes to new statutory or regulatory requirements and on latest
could interfere with the Director’s judgement. developments and key challenges in the financial and Takaful
industry. The Directors are mindful of the need to enhance their
The Board has adopted the policy that limits the tenure of its skills and knowledge to maximise their effectiveness as Directors
Independent Directors to nine (9) years, pursuant to Practice of the Company during their tenure.
4.3 - Step Up of the MCCG. Currently, none of the Independent |
Directors have served the Board for more than nine (9) years. All Directors are required to complete their IDP by attending
at least three (3) trainings on technical knowledge and one (1)
leadership or one (1) soft skills training during the calendar year.
SuCCeSSIOn pLan Directors are also encouraged to attend other training programs
that are relevant to them. Laying the Foundation for Financial Growth
The Board recognises succession planning as an essential role
for the BNRC. The Board believes that the membership and Topics covered at external trainings attended by the Directors
composition of the Board should be continuously assessed to during the financial year were on Islamic finance, regulatory
support the Group’s long-term strategic direction and business development and governance, Fintech and cyber security,
continuity. corruption risk and integrity, risk management, leadership |
and corporate liability. Apart from external trainings that were
The Board assisted by the BNRC is responsible for the recruitment attended by the Directors, the Group Company Secretary also
and selection process of potential candidates. This process includes coordinated internal training which focused on (i) impact from the
reviewing the Group’s talent pool in identifying the desirable COVID-19 pandemic on the global market, banking segment and
competencies and skills to ensure that there is an appropriate equity market; and (ii) Anti-Money Laundering and Corruption Additional Information & Disclosure Summary
dynamic of skill, experience, expertise and diversity on the Board Risk as part of the Board’s Continuing Development to enable the
to meet the fast-changing landscape of the financial industry. Directors to discharge their responsibilities effectively.
The Board assisted by the BNRC also oversees the appointment
and the succession planning of the Key Senior Officers. Details of the conference, seminar and training programmes
attended by each Director in 2020 can be found in the CG Report |
2020.
24 th AGM Information