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Corporate Governance |
The Board of Directors and management have been making continuous efforts over the past few years to optimize our governance structure and great progress has been achieved. For adoption of Corporate Governance best practices, BIN has been learning from facts and put in place an effective management model. During this process we also got the compliment and support from the regulatory authorities. |
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Composition of
Board of Directors
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The Board comprises of seven members, of whom two are of executive capacity. The other five directors are in non-executive capacities and one of them is an independent appointment.
The two Executive Directors Mr Indra Widjaja and Mr. Philip Tang, respectively Chairman and General Manager of BIN, are both true veterans and professional bankers in the finance sector.
The four Non-Executive Directors are from varied academic backgrounds. With their wide experience in various business sectors, together they are bringing to BIN ideas and suggestions invaluable to the bank’s development. |
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Main Functions and Duties of
Board of Directors
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The Board, acts through the Chairman, Mr.
Mr Indra Widjaja
, reviews BIN's medium and long-term strategic plans on an annual basis. This is to ensure development of the bank is aligned with the prevailing market environment. The Board approves the annual budget of the bank, and conducts periodic review of implementation against the annual budget. The Board also reviews the management's execution of business action plans as well as the risks management.
The Board's other duties include regular review of the bank's day-to-day operations and performance. It watches closely the proper implementation of internal control procedures, risks management process, compliance functions and internal audit programs. |
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Appointment of Board Members |
All appointments of the Board are duly approved by the CBRC. |
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Training and Education of Directors |
The Members of the Board keep abreast with the development of the banking and finance industry by their attendance at conferences and seminars in and outside China. The conferences and seminars cover a full spectrum of tropics, ranging from risks management to customer relationship management; areas relevant to the bank's operations; directors’ responsibilities, and Corporate Governance issues; changes to statutory requirements and regulatory guidelines. They are either organized by the international professional bodies, specialist financial training houses, regional banking institutions, or the regulatory authorities in China and other countries |
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Committees |
The Board has established various committees to assist the fulfillment of its supervisory functions for the bank. The functions and terms of reference are all delegated by the Board, which include: |
1. Committee for Related-party Transactions 2. Audit Committee 3. Remuneration Committee and 4. Risks Management Committee |
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Top Management |
Top Management of BIN comprises of three members: one General Manager and two Deputy General Managers. They are responsible for execution of the plans and strategic deployment approved by the Board and to assign the jobs to managerial personnel and staff. Top Management meets department managers every Tuesday.
To attain higher management standards, management of BIN strictly observe the corporate governance standards and the provisions of best practices set by OECD, and also seek to apply best practices appropriately to the bank’s governance and management, meanwhile giving full considerations for the interests of clients, shareholders, employees and other stakeholders and their maximization. |
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