BankMuscat - Annual Report

In this section the specific disclosures required under Annexure 4 of the Code of Corporate Governance issued by the Capital Market Authority (Circular 11/2002 dated 3 June 2002) are set out.

1. Board of Directors
The Board comprised of nine Non Executive Directors as at 31 December 2002. The Board functions in its capacity or through various Committees constituted to oversee specific operational areas. During 2002 the Board constituted two Committees, namely the Audit Committee and the Executive committee. The Board dissolved the Executive Committee on June 23, 2002 and a Board Credit Committee was constituted with effect from June 24, 2002.

The details of the Directors on the Board of the Bank are given below:

Names of Directors	Independent / Representing	Category	No. of Board Meetings attended	No. of other Directorships held	No. of other committee memberships
Sheikh AbdulMalik bin Abdullah Al Khalili	Independent Royal Court Affairs	Chairman of the Board and Audit Committee	15	4	1
Sheikh Khalid bin Mustahail Al Mashani	Independent Personal Capacity	Deputy Chairman of the Board & Chairman of Board Credit Committee	15	2	1
Alain L. Tave	Independent Societe Generale	Director & Member of Board Credit Committee	14	Nil	1
Salim bin Tamam Musallam Al Mashani	Independent Personal capacity	Director & Member of Board Credit Committee	14	1	1
Salem ben Nasser Al Ismaily	Non-Independent Personal capacity	Director & Member of Audit & Board Credit Committees	10	3	2
Sulaiman bin Mohammed bin Hamed Al Yahyai	Independent Royal Court Affairs	Director & Member of Audit & Board Credit Committees	14	2	2
Ameed Rukn Saif bin Ali Al Amri	Independent MOD Pension Fund	Director & Member of Board Credit Committee	15	1	1
Hamoud bin Ibrahim Soomar Al Zadjali	Independent ROP Pensions Trust Fund	Director and Member of Audit Committee	11	Nil	1
K.K. Abdul Razak	Independent Muscat Overseas Group	Director and Member of Audit Committee	15	3	1

Meetings of the Board:
Fifteen full meetings of the Board of Directors were held during the year.

The following members of the Board attended the Annual General Meeting of the shareholders held on 29th April 2002

1. Sheikh AbdulMalik bin Abdullah Al Khalili
2. Alain L. Tave
3. Salem ben Nasser Al Ismaily
4. Sulaiman bin Mohamed bin Hamed Al Yahyai
5. Ameed Rukn Saif bin Ali Al Amri
6. Hamoud bin Ibrahim Soomar Al Zadjali
7. K.K. Abdul Razak