CIMB has adopted various initiatives which enable the Board of Directors (Board) and Senior Management to make well-informed decisions, provide appropriate accountability and transparency, and establish proper culture and behaviours. For CIMB, it is also important to maintain strong governance practices given the highly regulated industry in which it operates and the need to increase opportunities as well as for the long-term sustainability of its business. Towards this end, the Board is committed to cultivating a responsible organisation by ensuring excellence in corporate governance standards at all times. In this respect, the Board Committees assist the Board to fulfil its governance role effectively.
CIMB’s Corporate Governance Framework is consistent and complies with the following best practices and guidelines:
1) Bank Negara Malaysia (BNM)’s Corporate Governance Policy 2016 (BNM CG Policy)
2) Main Market Listing Requirements (MMLR) of Bursa Malaysia Securities Berhad (Bursa Malaysia)
3) Malaysian Code of Corporate Governance 2017 (MCCG) published by the Securities Commission
4) Corporate Governance Guide 3rd Edition 2017 (CG Guide) published by Bursa Malaysia
5) Minority Shareholder Watch Group (MSWG)’s Malaysia- ASEAN Corporate Governance Scorecard
6) Developments in market practice and regulations