Al Rayan Bank is committed to implementing a sound governance framework through which the objectives of the Bank are set and the means of attaining these objectives and monitoring performance is determined.
The Board of Directors has overall responsibility for the corporate governance of the company. The foremost duty and responsibility of the Board of Directors is to decide the overall strategy and policies of the Bank.
The Board of Directors has established three permanent committees that deal with significant aspects of the Bank’s affairs. These are: the Remuneration & Nomination Committee; the Audit Committee; and the Risk, Compliance & Credit Committee.
The bank also relies on the Sharia Supervisory Committee which ensures that all financial and operational activities are conducted in accordance with Sharia principles. The committee is composed of three eminent scholars who provide guidance to the bank on Islamic principles and rules.