Strong governance ensures that EXIM Bank carries out its mandate responsibly and effectively while safeguarding the assets and interests of our Shareholder and promoting and facilitating the sustainable growth of the productive sectors of Jamaica.
This Corporate Governance Statement outlines EXIM Bank’s corporate governance policies and procedures for the year ended 31 March 2017. The Board of Directors of EXIM Bank is a strong advocate of good corporate governance.
EXIM Bank’s Corporate Governance Framework operates in accordance with the corporate governance charters, policies and codes of conduct adopted by the Board. The Board recognises that corporate governance is a constantly evolving concept and therefore regularly reviews and updates the Company’s governance charters and policies by reference to public sector guidelines and best practices in Jamaica and overseas.
The role of the Board of Directors is to oversee and guide the management team with the aim of protecting and enhancing the interests of the Shareholder and achieving the Company’s Mission and Vision. With the exception of the Managing Director, the Board is made up of independent Directors. These Directors possess a mix of skills, qualifications and experiences to the benefit of the Company, its stakeholders and clients.
The Board meets every two months to consider issues of strategic direction guided by its Charters, specific policies, performance objectives and key initiatives. In order to achieve and maintain optimum levels of procedural transparency, analytical rigour and observance of public sector guidelines and best practices, the Board has established a number of Committees. These committees serve to increase the efficiency of the Board and to assist in the handling of complex issues. The Committees meet as needed and work with the Senior Management Group, which is charged with the responsibility of implementing the decisions of the Board.There are three (3) such committees which operate within defined regularly reviewed terms of reference laid down by the Board.
Directors are expected to bring their views to the Board’s deliberations independent of management and free of any business or other relationship or circumstances that could materially interfere with the exercise of objective or unfettered judgment. Directors are required to avoid conflicts of interest and to immediately inform the Board should a conflict of interest arise.