Guideline “On internal and effective governance of banks”

This guideline provides the manner in which the subjects of the Regulation “On core management principles of banks and branches of foreign banks and the criteria on the approval of their administrators”, approved by the Decision No. 63, dated 14.11.2012 of the Supervisory Council (for simplicity, hereinafter shall be referred as “the regulation”), may implement the main principles on the internal and effective governance, as well as may improve it through the establishment of the appropriate structures, the ensuring of the individual and collective suitability of the members of the steering organs, drafting of policies, setting up the committees and setting the roles and responsibilities for each committee, developing governance culture and risk culture, including the appropriate risk appetite/tolerance framework.