Page 57 - EXIM_AR2021

ANNUAL REPORT 2021 55

PART 3: BOARD APPOINTMENT/REAPPOINTMENT PROCESS
The Nomination and Remuneration Committee (“NRC”) has been delegated by the Board in overseeing the following matters
concerning the Board, Board Committees, Shariah Committee (“SC”), P/CEO and Senior Management:

Performance
Appointment and Composition evaluation and Fit and proper Remuneration
reappointment assessment policy and package
development

The appointment and reappointment of Directors are governed under the Garis Panduan Ahli Lembaga Pengarah Lantikan Menteri
Kewangan (Diperbadankan), BNM’s Policy on Fit and Proper Criteria as well as the Bank’s Policy on Fit and Proper Criteria and Policy
on the Appointment/Reappointment of Chairman, Directors and P/CEO. In accordance with these policies and guidelines, the NRC
undertakes a crucial role in the nomination and selection process of potential candidates to be appointed as Directors and members
of the Board Committees.

The NRC performs detailed assessments on the candidates with respect to their relevant skill sets, expertise and experience to fill
any gaps in the present Board’s skills and expertise. Subsequently, the NRC recommends the appointments for the Board’s approval
before the submission to BNM for verification and finally to the MOF for the final approval. The appointment and reappointment
tenure shall be for a term of two (2) years with maximum service tenure of six (6) years.

The NRC considers the following criteria with respect to the fit and proper assessment of a candidate:

1 2 3

PROBITY AND REPUTATION COMPETENCY FINANCIAL INTEGRITY
the candidate must have the the candidate must have the the candidate must be able to
requisite qualities such as necessary qualifications, manage his debts or financial
honesty, integrity, diligence and skills, experience, ability and affairs prudently.
independence. commitment to carry out the role.

On an annual basis, the NRC guided by BNM’s as well the Bank’s internal Policy on Fit and Proper Criteria to carry out fit and proper
assessments on the suitability of the Board members to continue in their present role. The assessment involves a self-declaration by
the Directors to ensure the suitability and independence of the Directors to continue to serve as Directors of the Bank.