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 Islamic 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