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Corporate Governance is the cornerstone of Bascorp’s business and operations framework. Compliance with the principles of good governance starts with the Board of Directors. The Board is a balanced and diverse group of leaders and is independent and well equipped to carry out its functions as a governance body on behalf of the shareholders. The governance framework for risk is at an Executive and Board Level. At Bascorp Group , we have chosen a framework that incorporates guidelines recommended by leading international and regional regulators as well as the prudent practices adopted by leading financial institutions. This helps ensure that synergies are identified and efficiencies are optimized when decisions impacting the organization are taken.
Bascorp Group recognizes that a strong commitment to a robust corporate governance framework is essential for its long-term prosperity. Accordingly, it has developed a comprehensive corporate governance framework which is modeled on international best practice and complies with all regulatory requirements.
This framework addresses the following:
- Responsibilities of the Board and individual Directors
- Terms of reference for each of the company’s Board Committees
- Appropriate delegation of authority to Management
- The company’s relationship with its shareholders
- Internal controls, risk management and compliance functions
- Rules relating to the appointment of external auditors
- The company’s code of conduct
- Share dealing policy applicable to Directors and employees.