ABA Formed GRC Committee
date: April 03, 2017
Growing regulatory environment, higher business complexity and increased focus on accountability have led banks to pursue a broad range of governance, risk management and compliance initiatives across the organization. However, these initiatives are uncoordinated in an era when risks are interdependent and controls are shared.
Anti-money laundering, countering terrorist financing and financial sanctions compliance are priority issues for banking sector of Afghanistan. Strengthening and improving the overall level of integrity and credibility of the banking sector is depended on close cooperation of the relevant bodies.
In this respect, the Executive Director of Afghanistan Banks Association (ABA), took lead to hold meeting with the concerned officials of all licensed member banks for detailed discussion & deliberations on formation of standing “Governance, Risk Management and Compliance (GRC) Committee dated 19th March, 2017.The initial draft of Charter/TOR of GRC committee was developed by ABA and later on shared with participants for review and improvements.
Subsequently, on April 03, 2017.
ABA conducted another meeting where, banks Chief Risk Officers/Deputy CRO, Chief Compliance Officers/Deputy CCO, Chief Operation Officer participated.
The meeting was chaired by Mr. Najibullah Amiri ABA Executive Director. He updated member banks on importance of the committee and encouraged member banks for effective contribution in the committee.
During the meeting, the charter of the committee was monitored/revised by ABA/ members and certain changes were made.
The committee comprise of 7 members, which include, a Chairperson, First Vice Chairperson, Second Vice Chairperson, Secretary and four members. The committee Chairperson, Vice Chairpersons and members were appointment based on their qualification, dedication and experience and their interest that is as follow:
Mr. Rajendra Singh Sunda, CRO Azizi Bank as Chairperson of the committee
Ms. Ewa Janikowska, CRO FMFB as 1st Vice -Chairperson of the committee
Mr. Qudratullah Rahmat, CRO Ghazanfar Bank as 2nd Vice Chairperson of the committee
Mr. Abdul Matin Amery, CCM Bank Alfalah Ltd as regular member of the committee
Mr. Assadullah Fayzi, CRO AIB Bank as regular member of the committee
Mr. Faisal Reza, Country Compliance Manager of Habib Bank Ltd as regular member of the committee
Mr. Ajay Sinha, CRO Maiwand Bank as regular member of the GRC committee
The committee will point out issues/deficiencies arising out of and/or observed in the Banking Law /Anti-Money Laundering Law (AML), Combating Financing of Terrorism Law (CFT), DAB’s Regulations on Corporate Governance, AML and CFT as also other laws/regulations and recommend optimum suggestion for onward deliberation with DAB by Board of ABA in the areas of governance, risk management and compliance.
The committee shall meet at regular intervals as per the requirements. However, there shall be at least one meeting during each calendar quarter.