Appointment, Duties, Responsibilities, and Honorarium of Independent Directors in a Bank

BRPD Circular Letter No. 33
BB outlines the appointment, duties, responsibilities, and honorarium of independent directors in banks. More emphasize has been places on the required qualifications, including relevant legal and financial expertise, and defines the scope of their responsibilities to ensure governance, risk management, and compliance. BB has also specifies the remuneration guidelines for independent directors, aligning with regulatory standards to maintain transparency and accountability.