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Bank Act download (1) Sri Lanka, :check: Comply with the Regulation, …

- - - - Suitability :smiley:
        
        An independent non-executive director :red_flag:
        
        Become Senior Director :check:
    - - Suitability :smiley:
        
        Fitness and Propriety
        
        Section 76H : :check:
        
        Section 42 :check:
        
        Knowledge :check:
        
        Competencies :check:
        
        Expertise in the core banking functions :check:
    - - Procedure
        
        Not Allow except
        Subsidiary/Associate
        
        Director of other Bank :check:
        
        Employee of Other Bank :check:
      - Number : :explode:
        
        Maximum 13 :check:
        
        Minimum 07 :check:
        
        Female on Board :explode:
        
        Min : 1
        
        Min 2 of more than 10 :check: :
      - Types
        
        Executive
        
        1- Only CEO :warning:
        
        2 (CEO+ 1)
        
        Non Executive :check:
        
        Independent
        
        Min 50% :check:
        
        Selection : :checkered_flag:
        
        No transaction within 2 Yrs
        
        Not employee within 2 yrs
        
        Holding <1%
        
        Material relationship
        
        Close relation
        
        Alternate Directors:check:
      - Suitability
        
        Fitness and Propriety
        
        Section 76H :check:
        
        Section 42 :check:
        
        Age :check:
        
        Period of service (Max 9) (Same Bank) :check:
        
        Max 20 years (Including all) :check:
        
        Cooling-Off Period
  - - - At least 50% : :check:
      - 1/3 independent non-executive :check:
  - - - Separate from CEO :check:
      - Responsibility
        
        Leadership : :check:
        
        Timely Discuss :check:
        
        Approve the agenda :check:
        
        information to directors :check:
        
        Facilitate and Encourage :check:
        
        Effective Communication with SH :check:
    - - Day-to-day management :check:
      - Overall governance :check:
    - - Define Authority :check:
      - Define Responsibility :check:
      - Consistent with Strategy :check:
      - Consistent with Policies :check:
  - - - IT :check:
      - Administration :check:
      - Economics :check:
      - Risk & Law :check:
      - Finance :check:
      - Banking :check:
- - - - Role
        
        Granting of “total net accommodation :check:
        
        Report :check:
        
        Identify :check:
        
        Monitor :check:
        
        Clear Policy :check:
      - Members :red_cross:
        
        CEO and Key management :check:
        
        Majority of independent :check:
        
        Min 03 non-executive directors :check:
      - Chairperson
        
        Not Chair of the Board :check:
        
        Independent director :check:
    - - Role
        
        Oversee CEO Strategies :check:
        
        Oversee Role of CRO :warning:
        
        Advise and Report :check:
        
        Assess & mitigate Risk :check:
        
        Establish Process :check:
      - Member
        
        CEO, CRO, CCO and key management :check:
        
        Majority not from Audit ::red_cross:
        
        Majority of independent :check:
        
        Min 03 non-executive directors :check:
      - Chairperson
        
        Not Chair of the Board :check:
        
        Not Chair of Board Committee :check:
        
        Independent director :check:
    - - Role
        
        Nomination :red_cross:
        
        Evaluate Directors :check:
        
        Formal and transparent procedure :red_cross:
        
        Identification of Key Mgt :check:
      - Chairperson
        
        Not Chair of the Board :check:
        
        Independent :check:
      - Members
        
        CEO on invitation :check:
        
        Majority of independent :check:
    - - Roles
        
        Ensure SH approval :red_cross:
        
        Evaluate the performance of CEO :check:
        
        Set goals and targets :check:
        
        Remuneration policy :check:
      - Members
        
        CEO on invitation :check:
        
        Majority of independent :check:
      - Chairperson
        
        Not Chair of Board Committee :check:
        
        Not Chair of the Board :check:
        
        Preferably Independent :check:
    - - Role & Responsibility
        
        Internal Audit :
        
        Review the financial information
        
        Going concern :check:
        
        Significant adjustments :check:
        
        Major Judgemental :check:
        
        Changes in accounting policies :check:
        
        Preparation of FS :check:
        
        Assess Compliance :checkered_flag:
        
        Internal control :check:
        
        Corporate governance :check:
        
        Recommendations
        
        External auditor
        
        Oversee Relations :red_cross:
        
        Appointment :check:
        
        Implementation CB guidelines :check:
        
        Accounting standards :check:
      - Members :check:
        
        Majority not from Risk Mgt Committee :red_cross:
        
        Skill & Expert :check:
        
        Majority of independent directors :check:
        
        Non-executive directors :check:
      - Chairperson :check:
        
        Qualification :check:
        
        Not Chair of Board Committee :check:
        
        Not Chair of the Board :check:
        
        Independent director :check:
- - - - Non Financial :check:
      - Financial :check:
    - - Investments :check:
      - Borrowings :check:
      - Deposits :check:
    - - Maximum Amount :check:
      - Large exposure :check:
  - - - Subsidiary/Associate :check:
      - Holding :check:
      - Bank :check:
  - - - Yes :check:
      - No : :checkered_flag:
        
        void and of no effect :warning:
  - - - Security (Approved
        by CBSL) :check:
      - Amount Due :check:
      - Not Settled on time :check:
- - - - Risk Mgt :check:
      - Process :check:
      - Strategies :check:
      - Control :check:
    - - Changes :check:
      - Performance :check:
      - Internal Controls :check:
      - Breaches of risk limits :check:
      - Legal or regulatory concerns :check:
- - - - Resign :check:
      - Removed :check:
      - Vacated :check:
  - - - Timely :check:
      - Adequate :check:
    - - Corporate governance :check:
      - RPT :check:
      - Liquidity :check:
      - Capital adequacy : :check:
      - KPI :check:
    - - Annual :check:
      - Quarterly :check:
- - - - Corporate Governance
      - Directors
      - Committees