Orabank Group has been structured in such a way as to ensure compliance with international best practice and standards. Good governance is a key factor in economic performance and maintaining trust since it enables us to monitor risks and balance interests more effectively.
We have structured our Group to create transparent lines of accountability within the different companies, to avoid conflicts of interest and to ensure that employees, directors and managing directors are responsible for their actions.
In accordance with the recommendations of the Basel Committee and regulations on internal control and auditing stipulated by the Banking Commissions, Orabank Group has put in place a streamlined charter that has been designed to meet the requirements for modern and efficient monitoring processes that comply with today’s professional standards.
Our lending and expenditure are governed by a system for delegating powers that defines the levels of responsibility that apply to senior executives and the boards of directors.
All of our banks have a board of directors. These boards are made up of a balanced mix of independent and executive directors and meet several times every financial year.
Directors are appointed for a 1-year term of office and may be reappointed.
The boards act in strict accordance with the related-party agreements in force.
The Group's executive managers must be approved by the appropriate regulatory authorities and are monitored by the board of directors. They must report to the board on their actions and the consequences of these on a regular basis. They are responsible for the following :
Employees can directly alert the Group's managers, directors or shareholders of any anomalies that they notice, particularly with regard to ethics, without fear of reprisals or sanctions.
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