Page 71 - EXIM-Bank_Annual-Report-2022

A VISION COMMITMENT EMPOWERING ENSURING ENHANCINg FINANCIAL
68 EXIM BANK MALAYSIA ANNUAL REPORT 2022 TO SERVE TO LEAD GROWTH SUSTAINABILITY gOVERNANCE STATEMENTS 69

Board Effectiveness Evaluation PART 6: DIRECTORS’ REMUNERATION

The Board undertakes an annual evaluation on the effectiveness The Bank acknowledges the importance of aligning pay and
of the Board, Board Committees and of each individual Director performance against the key strategic drivers of the Bank’s
based on MOF’s guidelines and BNM’s Policy Document long-term growth, attracting and retaining high calibre and
on Corporate Governance to ensure the appointed Board qualified Directors with the necessary skills, qualifications and
members are able to contribute to the effectiveness of the experience to have an effective Board.
performance of the whole Board. This exercise is used as one
(1) of the criteria for the re-appointment of a Director. The INEDs’ remuneration package generally commensurate
with the expertise, skills, responsibilities and risks associated
The performance evaluation form comprises assessment on with being a director of the Bank. The INEDs are entitled to
the Board, Board Committees, Self and Peer Evaluation and monthly director fees, meeting allowances and reimbursement
Board Skills Matrix. It is designed to improve the Board’s of expenses incurred in the course of their duties as a director.
overall effectiveness as well as to draw the Board’s attention
to key areas that need to be addressed in order to maintain the Details of the total remuneration of the Directors for the
cohesion of the Board despite its diversity. financial year ended 31 December 2022 is set out on
pages 169 and 170 of this Annual Report.
CSD had engaged an external consultant to conduct an
independent Board Evaluation exercise for financial year end PART 7: COMPANY SECRETARY
2020 and 2021 as per BNM CGPD requirement. CSD has
conducted an internal Board Evaluation exercise for 2022. The Board is supported by an experienced and licensed
The evaluation results will be presented and deliberated at Company Secretary. The Company Secretary together with
the NRC and thereafter, presented to the Board to enable the Corporate Secretarial Department is responsible for the
the Board to identify its strengths, areas for improvement effective functioning of the Board and to provide guidance and
and potential issues that need to be addressed. advice to the Board on Corporate Governance related matters
and to facilitate effective dissemination of information between
the Board and Senior Management. The Company Secretary
shall keep confidential the affairs of the Bank at all times.