UAE 
Our corporate governance framework and supporting policies are guided by best international and regional practices that combine strong leadership, accountability, transparency with a culture of integrity.
Corporate governance relates to the stewardship of the organization, the way in which organizations are directed and controlled. We, within FAB strive to exceed mere compliance with the laws and regulations. We are committed to adopting the spirit of the laws and regulations to understand the benefits of a strong regulatory framework. Within FAB we have a strong set of corporate values that define the way we conduct our business. They are the foundation of our culture. How we conduct business, with integrity and with zero tolerance for fraud, bribery and corruption, speak to the values of the organization. As the largest bank in the UAE, we strive to lead by example in demonstrating good corporate governance and recognize the importance of governance to our owners, our customers, employees, our communities and to us as a bank.
Whilst banks are currently exempt from compliance with the Ministerial Resolution No. (518) of 2009 Concerning Governance Rules and Corporate Discipline Standards, which is supervised by the Securities and Commodities Authority (SCA) for entities listed on UAE Stock Exchanges, FAB also has committed to meeting these standards.
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.
Robust internal controls provide a good indication of the strength of an organisation’s governance model. At FAB we have an extensive control structure suitable for a regulated, international financial institution and group.
A key component of our internal control structure includes identifying the responsibilities of different parts of the organisation for addressing and managing risk. The 3 Lines of Defence (3LOD) model is a tool used worldwide by banks and other financial institutions to support how risk is managed and the roles and responsibilities of businesses, enablement functions and control functions Our 3LOD model consists of the following:
FAB meets a range of regulatory disclosure requirements, primarily through its continuous disclosures to the Abu Dhabi Stock Exchange (ADX) and by publication of Annual Reports which incorporate Risk Management and Basel II-Pillar III Disclosure Reports and Corporate Governance Reports.
We also regularly publish sustainability reports and other information which is beneficial to our stakeholders, copies of which are generally available or updated on this website.
In all external reporting matters, we adopt a transparent approach that provides full and accurate disclosure. Our Investor Relations Team manages a dedicated webpage on this website where investors are provided with current information relating to the Bank, including the latest Annual Report, quarterly analyst coverage and financial reports. We also prepare a Corporate Governance summarised report that is included in the Annual Report and a detailed report is published on this website.
FAB shares are listed on the Abu Dhabi Stock Exchange, which is regulated by the UAE Securities & Commodities Authority.
FAB Share Ownership structure is available on the Investor Relations website.
FAB subsidiaries and group entities are listed in the Annual Report.
FAB is subject to regulatory oversight from a number of key ministries, government departments and regulatory authorities. Senior management has the responsibility to ensure compliance with all applicable laws and regulation, and is accountable to the Board.
The Board has also delegated a range of duties and responsibilities for monitoring and review to the Committees of the Board. These are the Board Management Committee, the Board Audit Committee, the Board Risk and Compliance and the Remuneration and Nomination Committee.
