BSL implements a corporate governance culture as a pivotal part of its internal system. Thus, this culture encompasses policies, processes, and BSL team members. This serves in directing and controlling management activities with good business knowledge, objectivity, integrity and a vision to achieve long-term strategic goals that satisfy customers, shareholders and employees, while maintaining ethical business conduct.
The board and management believe that reporting results with accuracy and transparency, and maintaining full compliance with laws, rules, and regulations governing the bank’s operations promote the interests of all the bank’s stakeholders. Thus, BSL believes that corporate governance is maintained, and that the reliance on a board culture safeguards procedures and promotes fair professional conduct.
The Board of Directors and Corporate Governance Committees
BSL BANK is in a strong position to meet the challenges and opportunities that lie ahead through a clear understanding that the bank’s growth should not be reached at the expense of its financial standing.
The management ensures the implementation of strict controlled procedures, pursuing a policy of growth and profitability within the context of adequate risk coverage.
- BSL is governed by a board of directors elected by the general assembly for a three-year mandate. The Board of Directors’ chief responsibility is to provide efficient governance over the bank’s operations for the benefit of its stakeholders, and in the interests of its customer base. The Board of Directors meets at regular intervals throughout the year. It has the ultimate responsibility of setting long-term strategic and business objectives, overseeing the bank’s internal control systems, and ensuring that appropriate resources are in place to enable the bank to meet its objectives.
- An Audit and Risk Committee supports the Board of Directors in fulfilling the bank’s duties and guaranteeing smooth operations..