Designation : Board of Supervisory
Education: CA / MBA
Experience: 15 to 30 Yrs experience
Age : Maximum 70 Yrs
Domain : Finance , Risk , Credit
Position : Contract , Quarterly once
In the event of a vacancy on the board of supervisors, the remaining members may appoint a person to fill the vacancy on a temporary basis until the next session of the general meeting of the shareholders.
Duties and powers of the board of supervisors
1- Convene each session of the general meeting of shareholders and adopt the agenda for each such session;
2- Approve the bank’s organizational structure;
3- Make decisions regarding the establishment and dissolving of subsidiaries, branch offices and representative offices of the bank;
4- Appoint, dismiss and determine the remuneration of the bank’s management board;
5- Oversee the work of the bank’s management board;
6- Approve the bank’s business strategy and annual budget;
7- approve the policies pursuant to which the bank will conduct its business, including the bank’s risk management policy, and policies for dealing with conflicts of interest, and ensure that they are adhered to; and require the management board to implement those policies;
8- Determine the conditions under which credits may be granted by bank employees, and which credits require approval of the board of supervisors;
9- Ensure the establishment, functionality, appropriateness and adequacy of internal controls and risk management for the bank;
10- Ensure the integrity of the bank’s financial reporting, including financial reporting to
Da Afghanistan Bank;
11- Ensure the appropriate functionality of internal audit function;
12- Make recommendations to the general meeting of shareholders on matters requiring shareholder approval;
13- Make recommendations to the general meeting of shareholders concerning appointment of the external audit firm for the bank;
14- Ensure that the bank has an annual external audit, which includes the auditor’s opinion of the truth and accuracy of the bank’s financial statements;
15- make decisions concerning capital distributions, subject to requirements of this Law and regulations of Da Afghanistan Bank, and what amount of the net profit of the bank shall be transferred to any reserve of the bank;
16- Make decision concerning procedure of capital distributions, subject to requirements of this law and related regulations, and the amount of net profit of the bank which is determined as reserve fund.
17- Decide on other matters placed in the competence of the board of supervisors by the bank’s charter or by-laws.
18- Ensure the implementation of instructions and orders of Da Afghanistan bank.