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  • Board Members’ Induction

    • HC-2.3.4

      The Board must ensure that:

      (a) Sufficient time, budget and other resources are allocated annually for the Board members’ induction programmes;
      (b) Each new director receives a formal and tailored induction and has access to ongoing training on relevant issues which may involve internal or external resources to ensure their effective contribution to the Board from the beginning of their term; and
      (c) The induction programmes include meetings with senior management, visits to the conventional bank licensee’s facilities, presentations regarding strategic plans, significant financial, accounting and risk management issues, compliance programs, and meetings with internal and external auditors and legal counsel.
      Added: April 2023

    • HC-2.3.5

      Board members must understand their oversight and corporate governance role and be able to exercise sound, objective judgment about the affairs of the licensee.

      Added: April 2023

    • HC-2.3.6

      All continuing directors must be invited to attend orientation meetings and all directors must continually educate themselves as to the conventional bank licensee’s business and corporate governance.

      Added: April 2023