Statement of compliance with the code of corporate

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Unformatted text preview: Statement of Compliance with the Code of Corporate Governance 14 1 . The Board aproved apointments o the CFO cum Company Secretary and the Head o Internal Audit including their remuneration and terms and conditions o employment, as determined by CEO. 11. The Directors' report or this year has ben prepared in compliance with the requirements o the Code and uly describes the salient maters required to be disclosed. 12. The inancial statements o the Ban were duly endorsed by CEO and CFO be ore aproval o the Board. 13. The directors, CEO and executives do not hold any interest in the shares o the Ban , other than that disclosed in the patern o shareholding. 14. The Ban has complied with al the corporate and inancial reporting requirements o the Code. 15. The Board has ormed an Audit Comite. It comprises o thre members, al o whom are non- executive directors including the Chairman o the comite. 16. Four metings o the Audit comite were held during the year prior to aproval o interim and inal results o the Ban and as required by the Code. The terms o re erence o the Comite have ben ormed, aproved by the Board and advised to the Comite or compliance. 17. The Board has set up an internal audit unction, the members o which are considered suitably quali ied and experienced or the purposes and are conversent with the policies and procedures o the Ban . 18. The statutory auditors o the Ban have con irmed that they have ben given a satis actory rating under the quality control review programe o the Institute o Chartered Acountants o Pa istan, that they or any o the partners o the irm, their spouses and minor children do not hold shares o the Ban and that the irm and al its partners are in compliance with the International Federation o Acountants (IFAC) guidelines on code o ethics as adopted by Institute o Chartered Acountants o Pa istan. 19. The statutory auditors or the persons asociated with them have not ben apointed to provide other services except in acordance with the listing regulations and the auditors have con irmed that they have observed IFAC guidelines in this regard. 2 . We con irm that al other material principles contained in the Code have ben complied with. Ha an A. Bilgrami President & CEO February 27, 2 7 15 We have reviewed the Statement o Compliance with the best practices contained in the Code o Corporate Governance or the year ended December 31, 2 6 prepared by the Board o Directors o Ban I lami Pa i tan Limit d (the Ban ) to comply with the regulation G-1 o the Prudential Regulations or Corporate / Comercial Ban ing isued by the State Ban o Pa istan. The responsibility or compliance with the Code o Corporate Governance is that o the Board o Directors o the Ban . Our responsibility is to review, to the extent where such compliance can be objectively veri ied, whether the Statement o Compliance re lects the status o the Ban s compliance with the provisions o the Code o Corporate Governance and report i it does not. A review is limited primarily to inquiries o the Ban personel and review o various documents prepared by the Ban...
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Statement of Compliance with the Code of Corporate...

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