Our Corporate Governance Framework plays a key role in FAB’s culture, business practices and regulatory compliance. Our governance responsibilities are integral to our performance and long-term sustainability.
The Framework is aligned with the Bank’s strategic objectives and reflects applicable regulatory guidelines, including those of the Central Bank of the UAE (“CBUAE”) and its other regulators. The Bank’s governance framework includes a strong, code of conduct and ethics which all FAB employees must be aware of and comply with in their daily interactions. This is underpinned by the Bank’s core values which lie at the heart of how we act and which are a key component of the performance management assessment of our employees.
The Framework provides direction to all staff across the Group on how corporate governance and decision-making operates at FAB. We undertake a range of banking activities that include consumer and SME banking, wealth management, wholesale banking and capital markets advisory, which are principally regulated by the CBUAE. We are also authorised by the Securities and Commodities Authority (‘SCA”) as a Securities Services Provider.
FAB Group is governed by a framework of boards and committees. The Board of Directors is the principal decision-making forum for the Bank and has overall responsibility for directing, leading and controlling the Bank. In addition to the Articles of Association and regulating laws, the FAB Board has approved a wide range of charters, codes and policies in order to record their decisions and delegations, and regulate the operations and overview activities of the bank and its group.
The board has also issued general principles of behaviour and personal conduct for which all directors and staff are accountable as individuals and as a collective entity.
Our Framework is designed to provide oversight for the effective implementation of related laws, regulations, policies and procedures applicable to FAB and to assist our Group Risk Management Team in ensuring that the range of risks facing the Bank are properly managed and mitigated within an effective internal control framework.