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  • PD-6.1 PD-6.1 General Requirements

    • PD-6.1.1

      In addition to the corporate governance disclosure required under Paragraph PD-1.3.10, banks must also disclose to their shareholders the following information:

      (a) Names of shareholders owning 5% or more and, if they act in concert, a description of the voting, shareholders' or other agreements among them relating to acting in concert, and of any other direct and indirect relationships among them or with the bank licensee or other shareholders;
      (b) Information on the directorships held by the directors on other boards;
      (c) Director's trading of the bank's shares during the year;
      (d) [This Subparagraph was deleted in January 2012];
      (e) [This Subparagraph was deleted in January 2012];
      (f) [This Subparagraph was deleted in January 2012];
      (g) Audit fees charged by the external auditor;
      (h) Non-audit services provided by the external auditor and fees;
      (i) Reasons for any switching of auditor and reappointing of auditor; and
      (j) Conflict of Interest — any issues arising must be reported, in addition describe any steps the board takes to ensure directors exercise independent judgment in considering transactions and agreements in respect of which a director or executive officer has a material interest.
      Amended January 2012
      Amended January 2011
      October 2010

    • PD-6.1.2

      Islamic bank licensees must disclose in the annual report any abstention from voting motivated by a conflict of interest and must disclose to its shareholders any authorisation of a conflict of interest contract or transaction in accordance with the Company Law.

      Added: April 2023

    • PD-6.1.3

      Islamic bank licensees must publish a summary of their internal corporate governance policies on their website.

      Added: April 2023