Board Credit Committee

The purpose of the Board Credit Committee is to review, manage and measure Al Baraka Bank’s credit risk strategy and to approve advances in terms of the Board approved delegation framework. A summary of some of the key terms of reference of the Board Credit Committee includes, among others:

• Approving advances in terms of the delegated powers of authority and credit mandates, which includes the monitoring of large exposures and Group connected party lending exposures.
• Overseeing the administration and effectiveness of, and compliance with, Al Baraka Bank’s credit policies through the review of such policies, reports and other information as it deems appropriate.
• Ensuring that the Bank’s credit risk management process is aligned with Al Baraka Group’s credit risk strategy.
• Monitoring the overall credit review process, considering the quantitative and qualitative assessment of the creditworthiness of debtors.
• Monitoring the credit recovery processes, together with progress made on matters handed over for legal action. This includes the approval of write offs of debtor accounts within its delegated framework.
• Ensuring that the Bank complies with all regulatory returns in respect of credit risk functions.
• Overseeing the impact of changes in the profit rate on the credit portfolio, including statistics and progress reports on stress testing of the Bank’s advances portfolio.

This Committee comprises of the following members:

• Mr. R. Lachman ( Chairperson)
• Mr. F.A. Randeree
• Mr. A. A Dogar
• Mr. S.A.E Chohan