Committees and commissions

In order to more effectively implement the Bank's management functions in the Bank and perform duties to monitor the Bank's activities, there are Committees under the Bank's Council to review and develop recommendations on the most important issues within the competence of the Council of the Bank.

Audit Committee

The functions of the Audit Committee are to examine the reports of the Internal Audit Department submitted for each internal audit, to study quarterly reports on internal audit and present them to the Council of the Bank, as well as assistance to the Council of the Bank in developing technical tasks for external auditors.

The Committee for staff assessment, development and remuneration.

• Implementation of main provisions in the field of the Bank’s staff management and development;
• monitoring and optimization of the number of employees of the Bank and its structural divisions for effective performance of the tasks set;
• development of corporate values and implementation of the Bank's corporate culture;
• taking decisions (as needed) on establishment of individual increments and other types of incentive payments to all employees of the Bank;
• setting the scale of increments to official salaries and other types of payments to employees of the Bank and its structural divisions;
• taking decisions on payment for training (full-time and part-time) of the Bank’s employees;
• consideration of issues related to work with personnel in collegial decision making.

Commission for settlement of conflicts of interest in the Bank

Monitoring the prevention of conflicts taking into account verbal and written statements and demands of shareholders, clients, members of management bodies and employees of the Bank about conflicts of interest, as well as searching for a solution that, being legal and justified, would eliminate the conflict of interests which has arisen or is emerging.

The Bank's Credit Committee for corporate lending.

• The functions of the Bank's Corporate Credit Committee include: review and approval of procedures for granting new loans or changing the terms of existing loans;
• formation of the Bank's credit strategy and policy;
• approval of organizational structure of lending process;
• analysis of loan portfolio and other significant risks associated with lending;
  • analysis of the Bank's overdue loans;
  • taking decisions on dealing with the Bank's bad assets.

Credit Committee on retail lending of the Bank.

The main aim of the Committee is implementation of Lending policy of the Bank and development of lending operations portfolio of the Bank with acceptable risk level in compliance with the Lending policy of the Bank, local acts of the Bank and current legislation of the Republic of Uzbekistan.

The main objectives and functions of the Committee are:

• considering the issues on retail lending of individuals;
• developing the procedures and methods on internal control on the state of the retail lending portfolio on lending operations;
• considering and approving the procedures on extending new loans or modifications in the conditions of existing loans;
• developing lending strategy and policy of the Bank on retail area;
• approving organizational structure of the retail lending process;
• analyzing credit portfolio and other significant risks related to the retail lending:
  • analyzing the state of overdue loans of the Bank extended to individuals;
  • decision-making on the work with trouble assets of the Bank placed by individuals.

Fanancial committee.

The functions of the financial committee is to ensure the optimal balance between liquidity and profitability with adequate solvency of the bank.

Main tasks of the committee are the following:

• participation in the development of the business plan and policies of the bank;
• development and implementation of methods, schemes and mechanisms for optimizing the structure of the bank's assets and liabilities, providing control and analysis of the profitability of active and costly passive operations conducted in the bank in combination with their liquidity;
• organization, coordination and performance of analytical work at the level providing adequate information for making timely management decisions regarding the management of active-passive transactions
• organization and coordination of  innovative projects  development  in order to provide the  bank attractiveness in the banking services market  and  financial market.

Committee for evaluation, development and remuneration of personnel

The main goal of the HR Committee under the Management Board is to implement the Bank's HR policy.

The main tasks of the HR Committee under the Management Board include:

• implementation of main provisions in the field of management and development of the Bank staff;
• monitoring and optimization of the number of the Bank’s staff and its structural divisions for effective performance of the tasks set;
• establishment/deprivation/reduction/increase of bonuses to official salaries and other types of payments to the Bank’s staff and its structural divisions within its competence;
• monitoring compliance with corporate values, performance and labor discipline of the Bank’s staff and its structural divisions;
• consideration of issues related to work with personnel for which a collective decision is required.

The HR Committee of the Management Board is responsible for evaluation, rewarding, punishment, and development of the following executives and other employees, other than employees who are part of the HR Committee under the Bank's Supervisory Board:

• employees of the Head office, Central Operating Department (hereinafter referred to as the COD), and Bank Services Center;
• employees of the Bank's branches included in the establishment of the Bank's Head office.
• heads of structural divisions of the Bank branches (directorates, departments).

Bringing to financial responsibility and application of disciplinary punishments and retaliations (prevention, deprivation/reduction of bonuses, deprivation/reduction of premium) for misconduct of the above employees are subject to the decision of the HR Committee in accordance with the Bank’s applicable local acts and applicable laws.