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Corporate Governance

Good corporate governance is a mechanism that harmonises the interests of a wide range of stakeholders of an institution, while contributing to sustainable growth by attracting outside sources of capital. The corporate governance practices of DFCC Bank PLC (Bank) are in accordance with the Board-approved Corporate Governance Charter of the Bank.

The Bank practices high standards of corporate governance based on the OECD principles of good governance. OECD principles of good governance are based on the following six guidelines:

  • Promoting transparency, being consistent with laws and clearly articulating division of responsibilities
  • Protecting and facilitating the exercise of shareholder rights
  • Equitable treatment of all shareholders
  • Recognising the rights of stakeholders and encouraging co-operation between stakeholders in creating wealth and sustainability
  • Timely and accurate disclosure on all material matters regarding the entity including financial situation, performance, ownership and governance
  • Ensuring the strategic guidance of the entity, effective monitoring of management of the Board, and the Board’s accountability to the entity and the shareholders

Board Committees as at 31 December 2015