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HC-9.2.4

The Corporate Governance Committee established under chapter HC-9 shall comprise at a minimum of:

(a) An independent director to chair the Corporate Governance Committee. The Chairman of the Corporate Governance Committee should not only possess the relevant skills, such as the ability to read and understand financial statements, but should also be able to coordinate and link the complementary roles and functions of the Corporate Governance Committee and the Audit Committee;
(b) A Shari'a scholar who is an SSB member for the purpose of leading the Corporate Governance Committee on Shari'a-related governance issues and also to coordinate and link the complementary roles and functions of the Corporate Governance Committee and the SSB; and
(c) An independent director who can offer different skills to the committee, such as legal expertise and business proficiency, which are considered particularly relevant by the board of directors for cultivating a good corporate governance culture, and deemed "fit and proper" by the CBB.
July 2011