Audit Committee

The Audit Committee consists of at least two members, who do not have an executive position, elected from the members of the Board of Directors to assist the Board of Directors in carrying out auditing and surveillance activities. The Audit Committee is responsible for supervising the efficiency and adequacy of the internal systems of the bank on behalf of the Board of Directors and the functioning of these systems and accounting and reporting systems within the framework of the Banking Law and related regulations. It is also responsible for ensuring the integrity of the information produced, regularly monitoring the activities of the institutions that are selected and contracted by the Board of Directors and ensuring that the internal audit activities of the subsidiaries subject to consolidation are maintained and coordinated in accordance with the regulations in force in accordance with the Banking Law. The Audit Committee meets at least once every three months, or as the case may be, at the invitation of the chairman or one of its members. The date, time, place and agenda of the meeting will be determined by the chairman and the meeting agenda will be sent to the members 7 days before the date of the meeting.

Corporate Management Committee

The Corporate Management Committee consists of at least 2 members of the Board of Directors who do not have executive duties determined by the Board of Directors. Members elect a chairman from among themselves. The Corporate Management Committee meets at least once every three months, or as the case may be, at the invitation of the chairman or one of its members. The date, time, place and agenda of the meeting will be determined by the chairman and the meeting agenda will be sent to the members 7 days before the date of the meeting. The Corporate Management Committee’s task is to fulfil the following:

  • To observe the compliance of the structures and processes related to corporate governance with the provisions of the existing legislation and the bank’s basic principles.
  • To determine the framework of harmonization studies related to the subjects and practices for which incompatibility with these legislation and principles has been determined.
  • To present proposals to the Board of Directors for an effective corporate governance structure.
  • To lead the formation of institutional values and ethical rules, to support the related studies.
  • To plan the resources for the implementation and compliance of the Corporate Governance Policy.
  • To monitor the implementation of the frameworks and processes determined for the approval of periodic review, standards, policies, instructions and implementation procedures.
  • To publish the Corporate Governance Principles in the bank’s website and to update them when necessary.
  • To report to the Board of Directors the activities carried out as of the annual periods and the results of these activities.

Internal Systems Committee

Internal systems are structured in our bank structure to be connected to the Board of Directors. The Board of Directors has transferred the duties, powers and responsibilities of the internal systems specified in this regulation to the internal systems supervisor, with the ultimate responsibility remaining with the Board of Directors. The Internal Systems Committee, consisting of at least two members elected by the Board of Directors with no executive duties, has been designated as the internal systems supervisor. It is the responsibility of the internal systems supervisor to ensure that the internal systems are created within the framework of the procedures and principles set out in the “Regulation on the Internal Systems of Banks”, operated effectively, adequately and appropriately, and that the information provided by the accounting and financial reporting system is secured. The Audit Committee meets at least once every three months, or as the case may be, at the invitation of the chairman or one of its members. The date, time, place and agenda of the meeting will be determined by the chairman and the meeting agenda will be sent to the members 7 days before the date of the meeting.

Remuneration and Nomination Committee

The Nomination Committee consists of 3 members of the Board of Directors, at least 2 of whom have no executive duties, as determined by the Board of Directors. Members elect a chairman from among themselves. Nomination Committee members are appointed and dismissed by the Board of Directors. The Nomination Committee meets once a year or at the invitation of the chairman or one of the members, or as the case may be. The date, time, place and agenda of the meeting will be determined by the chairman and the meeting agenda will be sent to the members 7 days before the date of the meeting. It makes suggestions for the nominations to be made to the Board of Directors (representing KFH’s capital), the General Manager and the Vice General Manager positions to the Board of Directors.

The aim of the committee is to develop a transparent and regulated Wage Policy that ensures that the Board of Directors, CEO and Board of Directors’ remunerations are competitive and consistent with the bank’s culture, objectives and strategies. The Committee convenes at least once a year, preferably at the end of the year, to review the current system and determine the CEO, senior management and employee annual wages for the following year. In case of need, additional meetings are held in line with the requests of the Chairman of the Committee and other members. The date, time, place and agenda of the meeting are determined by the chairman and the invitation and the meeting agenda is sent to the members at least 7 days before the meeting date.

Corporate Social Responsibility Committee

The Corporate Social Responsibility Committee is made up of at least four members of the Board of Directors, one of whom is the General Manager of the bank, as determined by the Board of Directors. The committee is authorized to determine the social responsibility projects that Kuveyt Turk will implement and to manage and make decisions about these projects. The Corporate Social Responsibility Committee shall carry out its work in accordance with the principles set forth in this regulation.

Click for an answer to all your questions about Kuveyt Türk Investor Relations.

Detailed Information