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The Bank gives a great deal of importance to proper corporate governance practices based on the principles of transparency and responsibility. The Bank follows sound professional practices that are in compliance with Central Bank of Jordan regulations, as well as the regulatory requirements of other countries in which it operates. Accordingly, the Board of Directors approved a corporate governance code that will be comprehensively reviewed during 2015 to be in accordance with Central Bank of Jordan’s newly issued Corporate Governance Regulations.
The presence of an effective, professional and independent Board of Directors is one of the most important requirements of sound corporate governance practices. The board’s primary role is to protect and enhance the shareholders’ long-term value through the establishment of strategic direction and monitoring achieving the goals by the executive management. The Bank’s Board of Directors is composed of twelve members that were elected for a period of four years by the General Assembly during its meeting held on April 22, 2014. The members of the board have a range of skills and experiences that increases the effectiveness of the board. All members of the board are non-executive members.