BOARD LEADERSHIP AND EFFECTIVENESS Principle A THE ROLE OF THE BOARD The Board, driven by its commitment to shareholders and stakeholders, steadfastly adheres to heightened standards of integrity, accountability as well as ethics in every aspect of the Group’s operations. A description of the roles and responsibilities of the Board can be found in our Board Charter which is available on Bank Islam’s corporate website at www.bankislam.com. In forging the Group’s strategic direction and vision, the Board has put in place a system of risk management and internal controls associated with the Group’s business and operations. This is to ensure the Group’s risk appetite are clearly defined and that risks are systematically identified, assessed and effectively managed. The Board Charter and the TORs of the Board and Board Committees have also prescribed matters that are specifically reserved for the Board which is available on Bank Islam’s corporate website at www.bankislam.com. KEY MATTERS DELIBERATED BY THE BOARD The areas deliberated by the Board during FY2024 comprised 185 agenda items. The key focus areas are as follows: ✓ Risk Management & Compliance: Focused on regulatory compliance, internal processes, risk frameworks and climate risk management. ✓ Strategy, Financials and Business Performance: Encompasses strategic direction, financial reviews, business performance, new product proposals and regulatory engagement. ✓ Human Capital & CSR: Related to talent management, performance assessments and staff welfare. ✓ Governance: Covers board succession planning, evaluations, compliance, appointments, policies, and governance criteria. BOARD FUTURE PRIORITIES The Board has identified future priorities and key focus areas of the Board in the next three (3) financial years namely, FY2025, FY2026 and FY2027 and these are as follows: Future Priorities and Focus Areas 1. Bank Islam’s progress and achievement in implementing the five (5) year strategy roadmap, LEAP25 which will end in 2025. 2. Strategy Roadmap and Plan post LEAP25. 3. Bank Islam’s commitment towards Sustainability initiatives. 4. the Board’s oversight of ESG issues and climate-related matters. 5. Expansion of coverage provided by Social Finance initiatives. 6. Strategies under Funding Plan to manage Bank Islam’s Net income margin. 7. Bank Islam’s continuous commitment and progress towards OACP and ABMS ISO 37001:2016. 8. Succession Planning for the Board and Management that supports Bank Islam’s future and objectives. 9. Bank Islam’s cost management initiative namely CORE, a 3-year programme (2024-2026). 10. Bank Islam’s aspirations on technology and digitalisation initiatives. 11. Strategic partnerships and collaborations. 12. Recalibration of Sustainable Finance. 13. Expansion of distribution network. 14. Expansion of trading and retail investment capabilities. CORPORATE GOVERNANCE FUTURE FOCUS AREAS The Board will continue with its efforts to raise the bar in terms of the Group’s corporate governance standards and imbibe a culture that propagates ethical conduct, transparency and sustainable value-creation, with the ultimate objective of realising long-term shareholder value while considering the interests of other stakeholders. Bank Islam Malaysia Berhad ◆ Integrated Annual Report 2024 214 Corporate Governance Overview Statement
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