Page 17 - Annual Report 2020
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Governance Framework
Governance composition
Board composition Committees of the Board Nominations and
Remuneration Committee
The Board has significant expertise in the regulation The Board is empowered to establish committees to
of financial services. The Board reports annually to undertake and advise on certain areas of responsibility. Jean-François Lepetit serves as Chairman of the
the Council of Ministers on the discharge by the Board The Governance Resolution of the Board provides for Nominations and Remuneration Committee (NRC)
of the Regulatory Authority’s functions; the extent to the establishment of an Audit and Risk Committee and Dr Jeffrey Carmichael as a member of the NRC.
which, in its opinion, the Regulatory Authority objectives as well as a Nominations and Remuneration The NRC met three times in 2020. The Chief Executive
have been met; and other matters required by law. Committee and sets out the nature and membership Officer and the Managing Director, Corporate Services
of these committees. The committees review attended meetings of the NRC by invitation in 2020.
matters under their Terms of Reference and make
recommendations and provide reports to the Board. The principal areas of focus for the NRC include
Board meetings
considering and delivering recommendations to
the Board regarding remuneration policy. The NRC
The Board met four times in 2020.
also considers strategic human resources matters
such as progress on the recruitment and training of
Board activity Qatari employees.
The Board reviewed and approved a number of new At each meeting in 2020, the NRC received a general
rules and rule amendments in 2020, considered update on human resource matters including
various regulatory policies and enforcement matters, nationalisation efforts, organisational development,
and reviewed a number of standing items. The rule headcount, turnover, contract renewals of senior
and policy amendments decided by the Board in management, succession planning, promotions,
2020 included the Banking Business (Operational internships and secondments.
Risk) Amendments Rules 2020 and Islamic Banking
Business Prudential (Operational Risk) Amendments The NRC noted the 2020 compensation plan.
Rules 2020; the Governance and Controlled Functions
Rules 2020; the Representative Office Rules 2020; All matters of significant discussion were reported to
and the Miscellaneous Amendments Rules 2020. the Board, which also received the minutes of all
NRC meetings.
T ABLE OF C ONTENT S
