Amidst an increasingly challenging operating environment, the Board strives to strengthen the Group’s corporate governance practices and processes to meet increasingly operating challenges. An important role of corporate governance is to ensure sustainable long-term performance, maximise returns for our stakeholders and create long-term economic value and growth. The Governance Framework, its structure and processes, are built upon the Terms of Reference of the Board and its Committees which are complemented by Authority Limits and supported by various policies and guidelines of Bank Islam. The Board exercises collective oversight of the Board Committees and Management without abdicating its governance duties. This overarching role allows the Board to maintain robust governance practices and effective management oversight, reflecting an ongoing commitment to excellence and ensuring continued relevance of the governance structure. The Board works to ensure that the Group’s governance structure continues to remain appropriate and that it keeps abreast with relevant corporate governance and regulatory requirements. The structure and associated processes are reviewed regularly to reflect the market and the communities within which the Group operates. The table below illustrates Bank Islam’s governance structure, an overview of the Board, Board Committees and Management Executive Committees: SHAREHOLDERS Board Audit & Examination Committee Board Information Technology Committee Board Nomination & Remuneration Committee Board Strategic & Sustainability Committee Board Risk Committee Board Financing Review Committee Engagement BOARD OF DIRECTORS GROUP CHIEF EXECUTIVE OFFICER MANAGEMENT EXECUTIVE COMMITTEES Board Oversight and Engagement Engagement and Reporting Shariah Supervisory Council 198 Bank Islam Malaysia Berhad ◆ Integrated Annual Report 2023 Corporate Governance Overview Statement
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