Board Credit Committee

The Board Credit Committee is responsible for approval of credit facilities in the Bank. The Terms of Reference of this Committee includes but are not limited to the following:

• Considering and approving specific loans above the Management Credit Committee’s authority limit, as determined by the Board from time to time;
• Reviewing Management Credit Committee’s authority level as and when deemed necessary and recommending new levels to the Board for consideration;
• Conducting quarterly review of credits granted by the Bank to ensure compliance with the Bank’s internal control systems and credit approval procedures;
• Notifying all Director-related loans to the Board;
• Monitoring and notifying the top debtors to the attention of the Board;
• Reviewing the Bank’s internal control procedures in relation to credit risk assets and ensuring that they are sufficient to safeguard the quality of the Bank’s risk assets;
• Reviewing the Asset and Liability Management of the Bank;
• Reviewing and ensuring that the Bank complies with regulatory requirements regarding the grant of credit facilities; and
• Handling such other issues referred to the Committee from time to time by the Board.

All credits considered as “Large Exposures” as defined by the Board of Directors from time to time are considered and approved by the Board Credit Committee at a special meeting convened for that purpose. In  view  of  the  volume  of  transactions  that  require Board  Credit  Committee approvals,  there  are  instances  where   the need arises for credits to  be  approved  by  members  expeditiously between Board Credit Committee Meetings. Such urgent credits are circulated amongst the members for consideration and approval in line with a defined procedure that ensures that all members of the Committee are furnished with full information on such credits.

The Board Credit Committee meets at least once in each quarter. Additional meetings are however, convened as required.

Membership of the Committee is currently made up of six (6) members comprising: three (3) Non-Executive Directors and three (3) Executive Directors.