Board Committees

Various committees operate in tandem to provide solid corporate governance and oversight to the NOMW Capital:


  1. Board of Directors (BoD) :

    The BoD plays a pivotal role in NOMW's governance through its control of the two factors that ultimately determine the success of the financial institution, as follows,

    • The organization choice of strategy;
    • The retention of necessary talent, starting with the CEO, to execute the strategy;
     
  2. Nomination & Remuneration Committee (NRC) :

    The NRC is responsible for developing a clear policy and framework on the remuneration of directors, CEO and senior management. It ensures that formal and transparent procedure for fixing the remuneration packages of board and that the remuneration policies and practices are in line with the NOMW's ethical values, objectives and culture;

  3. Executive Committee (EC) :

    The EC serves as an operating committee and/or executive council, composed of the CEO and his direct reports (other C-level officers, division/subsidiary heads), for overseeing management and operations of the company;

  4. Compliance Committee (CC) :

    The CC ensures compliance with regularity requirements, primarily rules & regulations of the CMA. It also encourages continuous improvement of and adherence to the organization's policies, procedures, & practices for corporate accountability, transparency, & integrity;

  5. Audit Committee (AC) :

    The AC serves as an independent and objective party to monitor the organization's financial reporting process, internal control systems and corporate ethics. The committee will provide an open avenue of communication among the independent auditor, financial and senior management, the internal audit department, and the governing body.