- Corporate governance is the system by which companies are directed and controlled. The corporate governance structure specifies the distribution of rights and responsibilities among different participants in the company, such as, the board of directors, management, shareholders and other stakeholders and spells out the rules and procedures for making decisions in corporate affairs. By doing this, it also provides the structure through which the company objectives are set and the means of attaining those objectives and monitoring performance.
- Boards of directors’ role is to oversee the management and governance of the Company and to monitor senior management’s performance and it is to be distinguished from day to day operational management of the company. The shareholders’ role in governance is to appoint the directors and the auditors and to satisfy themselves that an appropriate structure is in place.
Recent Development for banks and DFIs
The State Bank of Pakistan (SBP) On November 22 ,2021 has issued the revised ‘Corporate Governance Regulatory Framework’ with the objective to further strengthen the corporate governance regime of banks and DFIs and to align the same with international standards and best practices.
The framework, which has been developed in consultation with key stakeholders, covers Fit & Proper Test (FPT) Criteria and other Corporate Governance regulatory requirements for the sponsor shareholders and beneficial owners, members of the Board of Directors, Presidents and CEOs and key executives of banks and DFIs.
All the existing regulatory requirements related to corporate governance have been consolidated and rationalized in this framework to:
- improve consistency
- understanding and usability for stakeholders.
Key highlights
- SBP has revised the age criteria for chief executive officers (CEOs) and presidents of banks from 70 years to 65 years.
- Banks and DFIs will not have a President or CEO, or a key executive holding a public office or the office of any political party, or is a member of the Senate, National Assembly, Provincial Assembly, or local bodies as a director.
- The appointment of key executives (other than overseas executives) will not require prior clearance by the SBP. However, one need to ensure FPT Criteria
- The Board should have at least one female director who is not related to any other director or sponsor shareholder of the bank or DFI.
- The appointment of overseas executives will require prior clearance by the SBP
- The SBP has also been active on the sustainability front and has introduced policies on financial inclusion (digital banking) increasing diversity in the workplace (banking on equality policy) and sustainable business (green banking). This 2-day training will focus on these progressive initiatives as well.
- Over view of Banking Regulations
- History and importance of Code of Corporate Governance
- Review of all Corporate Governance applicable in Pakistan to different type of Companies.
- Composition and Responsibilities of the Board
- Woman on the Board
- Corporate Governance Regulatory Framework for banks and DFIs issued by SBP on November 22 ,2021
- Board Performance Evaluation
- Communication to Stakeholders through Corporate Reports
- Digital Banking frame work
- Building Equalities policy
- To enhance the understanding about Corporate Governance in general and about Corporate Governance Regulatory Framework for Banks and DFIs issued by SBP on November 22 ,2021
- To update participants about Banking Regulations including Digital Banking frame work and Building Equalities policy
President, Directors and Senior Management Executives of Banks and DFIs, Company Secretary and HODs of Compliance, Risk , Internal Audit and Finance.
Trainers Profile:
Abdul Rahim Suriya - Visiting Faculty, IBA Karachi FCA , The Institute of Chartered Accountant of Pakistan
(FCA, FCMA) has over 36 years' experience in Accounting, Auditing, Corporate, Finance and
Operational Management. He is Visiting Faculty at the IBA, Karachi. He is also a Professional Trainer on the subject Corporate Reporting, and Corporate Governance. under Director's Trainings Program.
During the past 17 years, Abdul Rahim Suriya has conducted open house and in-house specialized training programs for senior executives for several leading corporate clients. These programs were designed to cater to the special needs of the clients to achieve higher level of performance and achieve greater corporate synergies. He has conducted workshops in UAE on Advanced Analysis of Financial Statements and Cash Flow Management & a Director’s Training Program for a Multinational Company.
Mr. Suriya is also a former President of ICAP, he also served as an elected member of the Council of ICAP from 1997 to 2013 and was a member of International Accounting Education Standard Board of IFAC from 2003 to 2008.He served as a Financial Management Consultant of World Bank team for ROSC- AA 2016.
He has authored a book on "A guide to business decision making". Currently, he is a Partner with Suriya Nauman Rehan n Co. Chartered Accountants. and he is Independent Director on the boards Allied Rental Modaraba and UDL Modaraba Management (Private) Limited.
Ms. Nausheen Ahmad
Ms. Nausheen Ahmad is Barrister at Law with over 30 years of law firm and in-house counsel experience in various sectors including Oil & Gas, FMCG, Banking and large-scale manufacturing.
She has served as Company Secretary and Head of Legal of HBL and ICI Pakistan Ltd. Currently she is Director of Meezan Bank Ltd, International Steel Ltd and Jubilee General Insurance Company Ltd. She has also served as a Director of the Pakistan Stock Exchange.
Ms. Ahmad has been teaching the Directors Certification course approved by SECP for PICG and IBA for several years. She has considerable experience of corporate governance formalities for different sectors and has conducted board evaluations for ICI Pakistan Ltd, HBL and Meezan Bank Ltd.
IBA CEE Cancellation Policy for Open Enrollment Programs:
In the event of participant's cancellation, the following schedule will apply:
- 5 days before start of workshop - No cancellation
- Within 4 to 2 days prior to workshop Half program fee forfeiture
- Within 1 day and No Shows - Full program fee forfeiture
Cancellation notification must be made in writing to CEE.
Postponement
Due to any unavoidable circumstances, the workshop may be postponed by the institute. In case of postponement, the institute will refund full fee of the program or the participant may opt to defer his/her registration to the next program.
Substitute
Substitutes will be taken at least 2 days prior to the workshop. Should we be unable to accept your application for any reason, your payment (cheque/draft) will be returned to you.
Deferrals
All registrations deferrals must be requested in writing at least 2 days prior to the workshop. Send a note to the Program Registration Team indicating that you wish to have your registration deferred to another session of the same program within one year. The deposited fee will be carried forward. Please note that only one transfer is permitted. After one year, the deposited fee will be fully forfeited.
