Ethics and Corporate Governance in Al Hilal Bank Term Paper

Ethics and Corporate Governance in Al Hilal Bank - Term Paper typeResponsibilities of the board should not be taken lightly. The overall responsibility of a margin is with the board including approving the banking strategies, risk strategies, corporate governance, and corporate values. All the pecuniary soundness of the bank is on the board. The board should check the whole strategy of the bank taking into account all the risk and effective planning to depress the risks and its capacity to cope with risks efficiently.The board must take into account and must know the legitimate interest of shargonholders, stockholders, depositors, and their relevant customers. Also, the effective relationship with the supervisor should to a fault be maintained properly. Board of directors should practice their duties of conduct and duties of loyalty followed by keeping up with a change in the banks trade and external environment.A responsible behavior proves to be an essential foundation in good governance. So the board should carry its responsibilities effectively maintaining professional standards that run into integrity for focusing and other employees.Low-key employees and other workers should be allowed to communicate about illegal and unethical practices as such practices can negatively stupor on banks reputation and profile. Important steps should be taken to communicate throughout the bank and professional standers to without any danger cogitation concerns or violation of any particular body. By applicable laws and regulations the board can elect and if necessary can replace the senior management if it sees that they are not performing their required task properly. The senior management actions and activities should be monitored consistently to check whether they are working in their frame. The meeting with senior management should be held regularly. A board should demand critical explanations and ask questions if found necessary related to their assigned tasks. It should make sure that senior management functioning should be consistent with the long-term objective, banking strategies and financial soundness of a bank. Senior management expertise and knowledge should be appropriate given the nature of the bank and its profile.