The Board of Directors is mandated to support and oversee the Management in efficiently discharging specific functions of the company. The Directors of the Board are aware of their obligation for good corporate governance at all times and the need to work for the best interest of the company. All Board members are non-executive directors and meet ordinarily after every three months. The Board of Directors consists of 7 members and the Secretary of the board. The Board takes overall responsibility for the company, including responsibility for identifying key risk areas, considering and monitoring investment decisions, considering significant financial matters, and reviewing the performance of management business plans and budgets.
The Board is also responsible for ensuring that a comprehensive system of internal control policies and procedures is operative, and for compliance with sound corporate governance principles. The Board delegates the day to day management of the business to the Chief Executive Officer who is assisted by the management team. The management team is invited to attend board meetings and facilitate the effective control of the company’s operational activities
The company is committed to the principles of effective corporate governance. The Directors also recognize the importance of integrity, transparency, and accountability. During the year the Board had seven meetings while the Board Audit and Risk Committee had three meetings during the year. Board Credit & Investment Committee was formed and meet during the year.