Audit Committee. The functions of the Audit Committee include reviewing reports prepared by the Internal Audit Department based on the results of inspections conducted in the Bank’s structural units, studying quarterly internal audit reports, and submitting them to the Bank’s Board. The Committee also assists the Board in preparing recommendations on the selection of an external auditor, developing terms of reference for external auditors, reviewing external audit reports (including management letters), and submitting them to the Board. Additionally, the Committee oversees the elimination of issues and deficiencies identified during internal and external audits, monitors the implementation of auditors’ recommendations by the Bank’s Executive Board, ensures the independence of the Audit Service, and determines the scope and content of audit engagements.
Risk Committee. The functions of the Risk Committee include reviewing and approving the Bank’s Risk Management Policy. In approving risk management procedures, the Committee strives to achieve an optimal balance between risk and return for the Bank as a whole, while ensuring compliance with applicable laws, the requirements of the Central Bank, and the provisions of the Bank’s Charter.
Tender Committee. The Tender Committee is established to ensure the efficient use of the Bank’s funds allocated for the procurement of goods, services, materials, and components through tender procedures. The purpose of the tender process is to secure the most favorable terms for the acquisition of goods, works, and services necessary for the Bank’s operations.
Personnel Evaluation and Development Committee. The main responsibilities of this Committee include implementing key policies in the area of human resource management and development, recruiting and providing professional training for employees, monitoring and optimizing the staffing levels of the Bank and its structural units to ensure the effective achievement of objectives, and, where necessary, making decisions on staff reductions in the Bank and its divisions.
Financial Committee. The function of the Financial Committee is to continuously monitor the Bank’s balance sheet and profit and loss statement to maintain adequate liquidity. The Committee also regularly oversees the proper balance between interest-bearing assets and the cost of interest-bearing liabilities, and reviews and approves the Bank’s tariff schedules.
Credit Committee. The functions of the Credit Committee include reviewing and approving applications and procedures for granting new loans or modifying existing loan terms; formulating the Bank’s credit strategy and policy; approving lending procedures; analyzing the loan portfolio and other material risks associated with lending; and monitoring the achievement of forecast indicators and business plan parameters related to the Bank’s lending activities, the status of the Bank’s overdue loans, and the management of the Bank’s non-performing assets.