2. Audit Committee
An Audit Committee was re-constituted and comprised of five Directors. The
Chairman of the Bank is also the Chairman of the Audit Committee.
As per the terms of reference, the Committee is required to meet at least four
times each calendar year. There were four meetings of the Committee during the
year ended December 31, 2002. The members of the Audit committee and their
respective attendance at the Audit Committee meetings are as follows:
| Name
|
Capacity |
No. of Meetings
attended |
| Sheikh AbdulMalik bin
Abdullah Al Khalili* |
Chairman |
2 |
| Salem ben Nasser Al
Ismaily |
Member |
4 |
| Sulaiman bin Mohammed
bin Hamed Al Yahyai |
Member |
4 |
| Hamoud bin Ibrahim
Soomar Al Zadjali |
Member |
2 |
| K.K. Abdul Razak
|
Member |
4 |
|
| * Chairman
w.e.f. June 23, 2002. |
3. Executive Committee (EXCO)
The members of the EXCO (which was dissolved on June 23, 2002) and their
respective attendance at the Committee meetings are as follows:
| Name
|
Capacity |
No. of Meetings attended |
| Alan L. Tave
|
Chairman |
4 |
| Salem ben Nasser Al
Ismaily |
Member |
4 |
| Salim bin Tamam Musallam
Al Mashani |
Member |
2 |
| Sulaiman bin Mohammed
bin Hamed Al Yahyai |
Member |
4 |
| Ameed Rukn Saif bin Ali
Al Amri |
Member |
4 |
4. Board Credit Committee
The Board Credit Committee was constituted on June 23, 2002 comprising of six
Directors. The Committee held four meetings during the year.
The details of the
composition of the Committee and attendance at its meetings are given below:
| Name
|
Capacity |
No. of Meetings attended |
| Sheikh
Khalid bin Mustahail Al Mashani |
Chairman |
4 |
| Alain L.
Tave |
Member
|
2 |
| Salem ben
Nasser Al Ismaily |
Member |
4 |
| Salim bin
Tamam Musallam Al Mashani |
Member |
3 |
| Sulaiman bin
Mohammed bin Hamed Al Yahyai |
Member
|
3 |
| Ameed Rukn
Saif bin Ali Al Amri |
Member
|
4 |
5. Process of nomination of Directors
The nomination process and the selection criteria of the Board of Directors are
set out in Paragraph 2.2 of Part 1 of this report.
6. Remuneration
The remuneration and sitting fees
paid to the Directors during the year was RO 537,868.
The remuneration paid to the top five key executives of the Bank during the year
was RO 1,252,872.
|
