Compliance with all applicable legislations, regulations, standards and code of conduct is an essential characteristic of organizational culture at Nepal SBI Bank. The Board of Directors is the apex decision making body in the Bank and has ultimate responsibility for good governance.
The Bank believes that good Corporate Governance is much more than complying with legal and regulatory requirements. Corporate governance framework of the Bank is designed to facilitate effective management and control of business, enable the Bank to maintain a high level of business ethics and to optimize the value for all its stakeholders. The Bank, hence, aims at protecting and enhancing shareholder value, protecting the interest of all other stakeholders such as customers, employees and society at large, ensuring transparency and integrity in communication and making available full, accurate and clear information to all concerned and ensuring accountability for performance and customer service. Good Governance Committee is in place in the Bank for review of governance status on regular basis.
The Bank is committed to:
- Ensuring that the Bank’s Board of Directors meets regularly, provides effective leadership and insights in business and functional matters and monitors Bank’s performance.
- Establishing a framework of strategic control and continuously reviewing its efficacy.
- Establishing clearly documented and transparent management processes for policy development, implementation and review, decision making, monitoring, control and reporting.
- Providing free access to the Board to all relevant information, advices and resources as are necessary to enable it to carry out its role effectively.
- Ensuring that Bank Management is made responsible in respect of compliance issues with all applicable statutes, regulations and other procedures, policies as laid down by the Government of Nepal/ Nepal Rastra Bank and other regulators and the Board, and reports deviations, if any.
Nepal SBI Bank is subject to and complies with the regulatory requirements of Bank and Financial Institution Act, 2073, Company Act, 2063, various regulations issued by Security Exchange Board of Nepal (SEBON), Nepal Stock Exchange (NEPSE), Directives/Circulars/guidelines issued by Nepal Rastra Bank- the central bank of Nepal, various guidelines issued by Institute of Chartered Accountants of Nepal (ICAN), prevailing applicable laws and other national and international standards/ principles on corporate governance.