A HEALTHY,
EFFICIENT AND SOLID GOVERNANCE SYSTEM
BANK OF AFRICA has established a highly robust and exemplary governance system to protect the long-term interests of all its stakeholders. The Group continues to meet the most stringent of standards when it comes to governance practices, as well as ensuring that it is fully compliant with domestic and international statutory requirements. Furthermore, given its strategic role within the economy, the Group is under an obligation to ensure that its operations are entirely secure and to adopt adequate control mechanisms.
As part of a process of ongoing improvement, BANK OF AFRICA’s governance system is underpinned by a number of decision-making and supervisory bodies as well as committees which are responsible for drawing up the Group’s main strategic and operational policies.
GOVERNANCE CHARTER
Consistent with its role as a responsible organisation with a strong emphasis on ethical standards, BANK OF AFRICA has adopted a Governance Charter, drawn up in accordance with Bank Al-Maghrib’s Directive 1/W/2014. This Charter defines the powers of each body, where those powers stop and how they interact. The Charter enables BANK OF AFRICA to organise more effectively the functioning and the decision-making processes of its most important decision-making bodies – the Annual General Meeting of Shareholders, the Board of Directors and Corporate Governance.
BOARD OF DIRECTORS
The Board of Directors’ primary
responsibility is to maintain a balance
between shareholders’ interests and growth
prospects, between long-term value creation
and depositor protection.
This body is responsible for strategic
planning, for determining and managing
risk, internal control, governance and the
Corporate Social Responsibility Charter.
BANK OF AFRICA’s Board of Directors is
renowned for taking a collegial approach to
decision making and for its mix of domestic
and international banking and finance
experts. The Board comprises thirteen
Directors, four of whom are Independent
Directors.
The Board comprises thirteen Directors, four
of whom are Independent Directors.
