Remuneration Policy for Senior Management Team (SMT) and Material Risk Takers (MRTs) The Board is of the view that the disclosure of the remuneration of the top five (5) Senior Management on a named basis in bands of RM50,000 as required under Practice 8.3 Step Up of the MCCG is not in the best interest of Bank Islam given the competitive market for talent in the industry. The top five (5) Senior Management’s annual remuneration is disclosed, as follows: Range of remuneration Number of Senior Management (C-Suite) RM1,400,000 – RM1,500,000 2 RM1,500,001 – RM1,600,000 – RM1,600,001 – RM1,700,000 2 RM1,700,001 – RM1,800,000 – RM1,800,001 and above 1 Total 5 The adoption of the remuneration policy for SMT/MRTs within Bank Islam promotes transparent and fair remuneration framework. The Policy sets forth appropriate governance around the total rewards of the Bank’s SMT/MRTs for their contributions to Bank Islam, taking into account their roles and responsibilities from the perspective of performance excellence, risk management, compliance and sustainability. Components of Remuneration Remuneration Component Approach Base Salary Basic wage paid to an employee as a guarantee for service/work rendered to the company. Fixed Allowance(s) Guaranteed cash paid under various classifications to compensate for miscellaneous job-related expenses. Benefits Non-wage remuneration provided in addition to other cash compensation. Variable Pay Annual non-guaranteed, performance-based cash payments/bonus and profitsharing awards. 229 www . b a n k i s l am. c om 01 02 03 04 05 06 07 ACCOUNTABILITY 08 09
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