Skip to content

Corporate Governance Framework at FAB

The Bank is governed by a framework consisting of a Board and committees. The emphasis in 2021 was to continue to support the evolution of the Committee’s in terms of operating procedures, including the development of defined reporting lines to the Board committees. The emphasis was also on ensuring that all committees received the right information at the right level and at the right time so that members could make informed decisions. The secretaries of the Board and Board committees remain to be senior employees within the Bank and subject matter experts. This has helped to enhance the administration and quality of the meetings, specifically with regard to meeting preparation, minutes taking, record keeping and accountabilities around decisions taken.

The Board and Board Committee charters are updated annually and the focus in 2021 was to review and further update these documents to comply with the CBUAE Regulations on Islamic Standards and the Consumer Protection Regulations and Standards. The updated charters can be found on our website under “Corporate Governance Framework” section.

The management Committee charters are updated on a two-year cycle. The charters were reviewed in 2021 to ensure that they are aligned with the CBUAE’s Regulations and best governance practices in terms of membership and roles and responsibilities.

The corporate governance framework identifies the responsibilities and accountabilities of the Board and individual Board Directors; Board Committees; the Executive Committee and its supporting Management Committees; and the organisation’s support and control functions.

Governance, internal controls and risk management

Under the CBUAE CG Regulations, the Board has approved that the risk governance framework must incorporate a “three lines of defense” approach including senior management of the business lines, the functions of risk management and compliance, and an independent and effective internal audit function. The 3 Lines of Defense (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.


First Abu Dhabi Bank

First Abu Dhabi Bank P.J.S.C

GET - On the app Store