BIMB Integrated Annual Report 2019

128 Integrated Annual Report 2019 Group Overview Sustaining The Group Management Discussion & Analysis Group Governance Corporate Governance Overview Statement (Pursuant to Paragraph 15.25 (1) of the MMLR of Bursa Securities) SHAREHOLDERS Board Risk Committee Board Audit & Examination Committee SHARIAH SUPERVISORY COUNCIL Board Nomination & Remuneration Committee CHIEF EXECUTIVE OFFICER Group Management Committee Group Company Secretary & Regulatory Compliance SUSTAINABILITY STEERING COMMITTEE MANAGEMENT Group Risk Management Committee Independent assurance Internal and external auditor Shariah Audit compliance MFRS COMMITTEE BOARD OF DIRECTORS SUBSIDIARY GOVERNANCE The Board operates on the basis that each subsidiary is a separate and distinct legal entity, requiring compliance with local laws and regulations. The Board maintains control and performs oversight of the subsidiaries through the appointment and removal of the directors on the board of the subsidiaries. Members of the Board may be appointed as a director on each major subsidiary, thus ensuring a continuous flow of information and promoting alignment to the Group’s strategic direction. While lines of reporting are maintained to the Group, the boards of each subsidiary remain the final approving authority of that entity.