Corporate Governance

Board Committees

PNB values a robust and healthy Board culture to ensure that PNB's stakeholders' interests and the mandate from Government are protected.

The Board is led by the Group Chairman who is responsible for instilling good governance practices, leadership and effectiveness of the Board, with the support of the President & Group Chief Executive (PGCE) and other Board members. Each of their roles is well-defined in the Board Charter.

The Board also spearheads sustainability commitments and targets, oversees sustainable investment strategy, and reviews progress, including carbon footprint and commitments progress.

Nomination & Remuneration

The Nominations & Remuneration Committee (NRC) identifies and recommends candidates for the Board and key management of PNB as well as its Subsidiaries and Investee Companies, through an established policy and system of evaluation. The NRC also assists the Board to ensure fair and competitive remuneration for the Directors and management of PNB as well as its subsidiaries, while overseeing policies for appointment and remuneration.

Investment

The Investment Committee assists the Board to formulate plans and strategies, and to approve the selection of investments for the investment portfolio of PNB and the unit trust funds under the management of PNB, subject to the limits of authority given by the Board. The Committee also considers any proposal for mergers and acquisitions.

Risk Management

The Risk Management Committee (RMC) reviews and recommends to the Board the risk management philosophies, policies and mitigation strategies to manage the principal risks of the PNB Group, and to oversee the integrated risk management framework of the PNB Group.

Compliance

The Compliance Committee was established to determine, approve, review and monitor the Compliance and Integrity Work Plans of the Compliance Department and Integrity Department as well as reviewing the compliance report and making recommendations.

Shariah Advisory

The Shariah Advisory Committee was set up in order to give advice as well as opinions and guidance on matters pertaining to Shariah compliance issues for the investments made by PNB, and to assist PNB to comply with Shariah principles.