Pronciples and policies of Compliance and Corporate Governance Directorate.
The object of Compliance and Corporate Governance is to prevent and effectively manage the risks of non-compliance of the Bank and of the Group’s companies with the current regulatory framework which governs their operation, by establishing appropriate policies and procedures and adopting mechanisms for recognizing, controlling and monitoring the pertinent risks. Additionally, it must also monitor and ensure that it preserves the principles and practices, on which the Bank is organized, managed and operated, so as to safeguard and preserve the legitimate interests of all those associated with the Bank.
The Compliance and Corporate Governance Directorate was formed within the framework of implementing the regulations of the BASEL supervisory framework (as applicable) and the provisions of Bank of Greece Governor's Act 2577/2006, and is responsible for managing the risk from the non-compliance of the Bank and the Group companies with everything set by the applicable regulatory framework. Organizationally, it comes under the CEO, it drafts reports to the Audit Committee and the Board of Directors regarding topics that come under its responsibilities and is subject to control from the Internal Audit Unit as to the efficiency and effectiveness of its procedures. As an administratively independent unit, it has uninterrupted access to all data and information necessary for the execution of its duties and is managed by a selected person (Head of Compliance) who is proficient in banking and investment activities.
Responsibilities of Compliance and Corporate Governance
The prevention and effective management of the risks of non-compliance of the Bank and the Group’s companies with the current regulatory framework which governs their operation, by establishing appropriate policies and procedures and adopting mechanisms for recognizing, controlling and monitoring the pertinent risks.
Its responsibilities include receiving, examining and settling the complaints and indictments of clients and transactors towards the Bank, seeing to the just and objective examination and the timely written reply, based on data and opinions which it receives from the competent Units or Services. In specific, among others, the Directorate:
- Checks the compliance of the Bank and the Attica Bank Group with the applicable regulatory framework, which regulates the prevention of using the financial and credit system, money laundering and funding of terrorism. As to this, it is responsible for checking the compliance of the Bank’s organizational units with the obligations stemming from the aforementioned framework, as well as from the Group’s Compliance Policy which has been established by the Bank, and it structures the appropriate environment for the timely detection, deterrence, investigation and reporting of similar attempts.
- Makes proposals to the Management, through the Directorate, about topics regarding drawing up and implementing the Bank’s and Group’s policy in the field of compliance, taking into consideration the institutional framework about Corporate Governance and the supervision of the financial and credit institution.
- Submits an annual report on compliance issues to the Bank of Greece, as to the institutional framework.
- Keeps a full archive of outsourcing agreements and submits it to the Bank of Greece, in accordance with the applicable Attica Bank Outsourcing Policy and the regulatory framework (Bank of Greece Governor's Act 2597/2007 and Decision 2/452/1-11-2007 of the Capital Market Committee), quarterly reports (on a unified basis) of the valid agreements and the Outsourcing Services provisions catalogue.
- Sees, through the proper procedures, to the adherence to the deadlines for the fulfillment of the obligations provided by the regulatory framework in force and provides a relevant statement to the Board of Directors.
- Ensures the full cooperation of the currently controlled Units with those authorized by the Supervisory Authorities and collaborates itself when required.
- Establishes and applies appropriate procedures and assists the Directorate in drafting an annual programme in order to achieve in a timely manner the full and continuous compliance of the Bank and the Group's companies with the applicable legislative regulatory framework, the Articles of Association and its Internal Operation Regulation, as well as and in preparing an Account of the activity for the previous year, submitted to the Management and the Board of Directors, through the Audit Committee, by the end of the first calendar half-year.
- Monitors, through benchmarks, the compliance of the Bank's and Company's separate Units with the applicable regulatory framework, the Regulations and the Directives of the Managing Authorities as well as the Regulations, Codes and Policies of the Bank and the Group’s companies.
- Ensures the timely and ongoing information of the Bank and the Group employees on developments in the legislative regulatory framework regarding their responsibilities, through the establishment of appropriate procedures and training programs.
- Revises the Compliance Manual and the Internal Operation Regulation of the Directorate.
The Bank has adopted and implements, among others, the following policies:
- Customer Complaint Management Policy.
- Policy to Prevent Money Laundering and Funding of Terrorism.
- Regulatory Compliance Policy.
- Data Protection Policy
Please download the respective files.
- AML Statement
- AML- Wolfsberg AML Questionnaire
- Certification regarding correspondent accounts for foreign banks
- W-8BEN-E Certificate
- Foreign Account Tax Compliance Act – “FATCA”
- Information of the intergovernmental agreement between Greece and USA on the application of FATCA
- Form W8BEN
- FORM W9
- Announcement (CRS-OECD)
- Controlling person tax residency form (CRS-CP)
- Entity tax residency Self-Certification form (CRS-E)
- Individual tax residency Self-Certification form (CRS-I)
Corporate Governance is a system of principles and practices based on which the Bank is organized, operated and governed, so as to preserve and satisfy the legitimate interests of all those associated with it.
Attica Bank applies principles of corporate governance, pursuing to attain transparency in communication with its Shareholders, Executives, Employees, Partners, Contractors and Suppliers, and providing immediate and continuous information to the investing public. By striving to respond consistently to the expectations of the Customers and the State, Attica Bank implements the regulatory framework regarding the financial sector and in particular those things that apply to the fight against corruption.
In the context of effective Corporate Governance, the Bank has separated the duties of the Chairman from those of the CEO and applies an integrated internal audit system to the Group in accordance with international standards and the current regulatory framework.
The Board of Directors has established, among others, the following:
- A Corporate Governance Code, which sets out the basic principles of Corporate Governance adopted by the Group as well as the principles and procedures governing the operation of the Bank's bodies responsible for monitoring the implementation of the Corporate Governance principles.
- A Code of Ethical Behavior and Business Ethics, the General Principles of which are based on the principles of Corporate Governance and which establish the values of integrity, impartiality, entrepreneurship, professionalism, transparency, social and environmental responsibility, respect for human rights, immediate and positive response, teamwork and compliance responsibility.
- Attica Bank's Remuneration Policy, the ultimate responsibility for the efficiency of which belongs to the Board of Directors of the Bank. In order to fulfill its duties, the Board of Directors adopts the above Policy, which is binding for its Members, the Management, the Bank's and the Subsidiaries’ Executives and all the Group's staff as well as the current external consultants and experts.
- A Borrowers Policy for Related Parties and Connected Borrowers. This policy records the rules applied by the Bank for the “Related Parties” (borrowers with a special relationship) and the "Connected Borrowers" with the Bank, as stipulated in the Regulatory (Legislative, Normative, Supervisory) Framework and in particular in Bank of Greece Governor's Act 2651/2012, as applicable. In particular, it analytically records the definition of Related Parties and Connected Borrowers, the process of identifying them, the evaluation criteria, the approval process as well as the framework for monitoring their credit.
- Conflict of Interest Prevention Policy for the members of the Board of Directors and its Chief Executives. This policy determines the way to conduct the control and management of actual or potential conflicts of interest between the Bank, the members of the Board of Directors and senior executives as defined in the current regulatory framework. The Compliance and Corporate Governance Directorate has the obligation to communicate the policy to the members of the Boards of Directors of all the subsidiaries of the bank.
Please download the respective files in pdf format
Board of Directors CVs
- Mr. Konstantinos Mitropoulos, Chairman of the Board, non-executive member
- Mr. Konstantinos Makedos, Vice-Chairman of the Board, non-executive member
Attica Bank Vice President, Konstantinos Makedos, is a Civil Engineer from the Aristotle University of Thessaloniki and has been President of the Engineers and Public Works Contractors Fund (ΤΜΕΔΕ) since its establishment on 1/1/2017. During his tenure, the Fund became a full member of the European Association of Guarantee Institutions. In addition, following a positive recommendation from the Bank of Greece, the Fund was evaluated and approved by the European Central Bank (ECB) as a qualified shareholder of special participation in financial institutions in Greece and Europe. It is noteworthy that TMEDE ensures terms of maximum transparency by applying the International Financial Reporting Standards to its financial operation. In addition, the Entity is a pioneer on a European level regarding its digital transformation and at the same time it presents a highly satisfactory image with significant annual surpluses. Mr. Makedos is an elected member of the Panhellenic Delegation of the Technical Chamber of Greece, while he served as Vice President of the Unified Insurance Fund of Independently Employed (ETAA) until 2016. For many years he was a member of the Management Committee of the Technical Chamber of Greece and responsible for the Financial and Insurance-Actuarial issues of the Chamber. Konstantinos Makedos is a freelance professional, public works researcher, shareholder and CEO of CONCEPT CONSULTING ENGINEERS Engineering Company S.A.
- Mr. Theodoros Pantalakis, CEO, non-executive member of the Board
He is a graduate of the University of Piraeus with a specialisation in Business Administration. From 1980 to 1991 he worked in ETΕΒΑ (National Bank of Industrial Development Investments). In parallel, in the period 1983-1985 he was a partner of the Vice Minister of National Economy Mr. K. Vaitsos and from 1985 to 1988 Head of the office of the Vice Minister of National Economy Mr. Th. Karantzas. From 1991 to 1996 he was assistant General Manager in the Interamerican Group. From 1996 to 2004 he was Deputy Manager of the National Bank of Greece (ETE), Vice President of ATHEX, President of the Central Securities Depository and Chairman of the Execitive Committee of ETE. In May 2004 he became Vice Chairman in the BoD of Piraeus Bank and in 2009 Vice President and Deputy CEO of the Group. From 2009 to 2012 he was Chairman of the Bod and President of ATEbank and member of the BoD of EET. From 2012 to 2016 he was Chairman of the BoD of Apollonios Kyklos SA, Vice President of the SA and Ltd. Union, executive of DEMKO SA, member of the BoDs of the companies of the ELLAKTOR Group, ELPE, Retail World and MAD DOG SA. Since September 2016 he has been Deputy Chief Executive Officer in the Bank, member in the Boards of Directors of ELPE and R.E.D.S SA and Vice Chairman of the BoD of the SA and Ltd. Union.
- Mr. Ioannis Tsakirakis, Deputy CEO, executive member of the Board
He studied Economics in the Athens University of Economics and Business and holds an MBA in Economic Statistics and Econometrics from the University of Athens. He has had over 30 years of experience in the banking sector, having worked in various banks, as well as in portfolio management companies. In May 2015 he became Deputy Chief Executive Officer and Head of the Credit Restructuring General Management Department of Attica Bank and in September 2016 he was elected executive member of the BoD of the Bank as Deputy Chief Executive Officer. He has worked in the National Bank of Greece (8.2013 -12.2013), in Probank (1.2002 – 7.2013), in EUROBANK FINANCE SA (8.2000 – 12.2002) and Ergasias Bank (9.1990 – 7.2000).
- Mr. Antonios Vartholomaios, Deputy CEO, non-executive member of the Board
Antonis M. Vartholomaios holds a degree from the Piraeus Higher School of Industrial Studies (1980) and was a PhD Candidate in Finance & International Economics in the Fordham University of New York (1986). His career includes: Atlantic Bank of New York (1981), Olympian Bank (1986), Interbank (1992), Egnatia Bank (1996), EVROSYMMETOCHES Capital and Investment Company SA (2000), EYDAP SA (2004, as an executive member of the BoD), Pegasus Securities SA (2010-2012), Hellenic Republic Asset Development Fund SA (ΤΑΙΠΕΔ) (2011-2012) and EYDAP SA (as Chairman of the BoD and CEO). In July 2019 he was elected Executive Member of the BoD and Deputy Chief Executive Officer of Attica Bank.
- Mr. Stavros Papagiannopoulos, non-executive member
He holds a postgraduate degree in Economics (MSc ECON) from the University College of London and a BA in Economics from the Athens Pierce College (Deree). He has almost 40 years of professional experience in the private sector as a business consultant and he has worked as a finance manager in private companies, especially in the industrial sector. He has worked as Financial Management Consultant and Accounting Support Executive (1980), Financial Management Consultant of Industria Businesses in Bulgaria (1998-2000), Financial Controller in P.N. Gerolymatos SA (1996-1998), Finance Manager and Accounting Manager in ALUCANCO SA (1989-1996), external partner of the Greek Productivity Centre (ELKEPA) as a seminar lecturer on Management and Production Management of Agricultural Unions (1983-1989), Production Planning Manager in MINERVA SA (1981-1983) and employee in the Accountancy and Statistical Support of the Sales Department of ELSA SA (1979-1981).
- Mr. Dimitrios Tzanninis, non-executive member
He is an economist who has graduated from the National Kapodistrian University of Athens. He holds a Master’s degree from the McMaster University and had his doctorate in the University of Western Ontario. He is an independent financial consultant and member of the Control Committee of Allianz Greece. In July 2019 he was re-elected as member of the BoD of the Bank. He has worked as Deputy Chief Executive Officer and executive member of DEI SA, as Chairman in the Financial Experts Council, member of the Economic and Financial Committee and the Eurogroup Working Group of the EU, Vice Minister in the EUROGROUP and ECOFIN councils, member of the Economic Committee of the OECD, Deputy Manager for Greece in the World Bank Group Board of Directors, Management Consultant in DEI SA, member of the BoD of the Public Debt Management Office (ΟΔΔΗΧ), member of the BoD and the Control Committee of the National Bank of Greece. He has taught Finance in the University of Western Ontario and has also worked as an investment banking, hedge fund and private equity consultant.
- Mrs. Eleni Koliopoulou, non-executive member
Eleni Koliopoulou is a graduate of the Deree American College of Greece and holds a Bachelor in Business Management. She was CEO of AN. VL. KOLIOPOULOS PAKO SA until 2018. Since 2013 she has been a Vice President in the Industrial Association of Thessaly and Central Greece (ΣΒΘΣΕ), whereas since May 2016 she has been the Chairman of the BoD and the Executive Committee. She was President of the Greek Association of Paper Industries (ΣΕ.ΒΙ.ΧΑ.) and Vice President of the Greek Association of Manufacturers of Corrugated Cardboard and Boxes. She was one of the founding members of the “HELLENIC PRODUCTION” Industrial Council for Development. She has also been a member of the BoD of the Hellenic Federation of Enterprises (ΣΕΒ) since 2018.
- Mr. Doukidis Georgios, non-executive member
Georgios Doukidis is a mathematician with a degree from the Aristotle University of Thessaloniki and holds an MSc in Enterpreneurial Research and a PhD in Artificial Intelligence from the London School of Economics (LSE) where he taught in the 1980s. He is a Professor of E-Business in the Department of Management Science and Technology in the Athens University of Economics and Business and Manager of the E-Business Research Center (ELTRUN), one of the biggest institutes in the field of European Business Schools, which has completed successfully more than 40 international R&D projects with more than 150 leading universities and international companies. He has consulting experience in business development, innovation and restructuring, e-commerce and digital transformation. In the past he was President of the Greek Development Investment Bank (TANEO)
- Mr. Taprantzis Andreas, non-executive member
Dr. Andreas Taprantzis is a Chemical Engineer with a PhD in AI Systems from the National Technical University of Athens. He also holds an MBA and an AMP from INSEAD. Since 2014, he has been CEO and Vice President of the multinational company Avis Greece, the biggest car leasing company in Greece, with a fleet exceeding 38,000 vehicles, an asset value of over €500 million and an EBITDA of over €90 million. He has worked as an Administator of the Hellenic Republic Asset Development Fund (ΤΑΙΠΕΔ), Chairman of the Postal Operations Council (POC), CEO of Hellenic Post (ELTA), Deputy CEO of TBank, COO and Retail Banking Network Manager of Postbank (TT), as well as a member of the Boards of Directors of several companies and organizations.
- Mr. Xariton Kiriazis, non-executive member
Haris Kyriazis is a Civil Engineer and holds an MBA and a PhD. He initially worked in the industrial sector and was also employed as General Secretary of National Economy (1992-1993). From 1994 to 2011 he was Head of the Tax and then of the Consultancy Department of Arthur Andersen as well as of the Consultancy Department of PwC, with an extensive experience in private and public sector projects. He was an elected member of the Hellenic Federation of Enterprises (ΣΕΒ) for 21 years, where he worked as Executive Vice President (2011-2015) until September 2019. He is currently a business consultant and participates in the Boards of Directors or as Chairman of the Control Committee of listed or non-listed companies (currently in Lamda Development, ELLAKTOR, Attica Bank, PQH, Skama). Among others, he is a member of the BoD of the International Labour Organization (ILO).
- Mrs. Aikaterini Onoufriadou, additional, non-executive member and representative of the Greek State in
accordance with the provisions of Law 3723/2008.
She holds a degree from the Finance Department of the Law Faculty of the University of Athens, as well as a training title in Factoring, following a 6-month seminar. In addition, she holds a TUV Inspector certificate. She speaks English and French. She has worked as an employee in the Agricultural Bank of Greece (1980-2010), Manager in Branches and Departments, as well as in the Training Centre of ATEbank in the employee training, to the rank of Deputy Manager. From 2010 to 2019 she worked on a voluntary basis in the office of the Prime Minister Kyriakos Mitsotakis. Since 2014 she has been Head of his Political Office. She is also Manager of the Mentoring Alive Committee of the European Union of Women in Greece, as well as member of the BoD of the Hellenic Electricity Distribution Network Operator (ΔΕΔΔΗΕ). Finally, she also a member of the Corporate Governance Committee of ΔΕΔΔΗΕ.
Konstantinos Mitropoulos is an Electric Engineer from the National Technical University of Athens with postgraduate studies in Business Management and Finance, with an MSc from the Imperial College and a PhD from the London Business School. From 2013 to June 2019 he was an Administrator for PwC in Greece, responsible for the development of operations in the Advisory Department. Between 2016 and 2017 he was also CEO of PQH, Special Single Liquidator SA, which has undertaken to liquidate 16 Greek banks. From July 2011 until August 2012 Konstantinos Mitropoulos was CEO of the Hellenic Republic Asset Development Fund SA (ΤΑΙΠΕΔ). Until July 2011 he was Executive Chairman of the Board of Directors of Eurobank EFG Equities and Head of the Global Equity Investment Banking, Brokerage & Private Equity of the Eurobank EFG Group. He was the founder and up to 2008 Executive Chairman of the BoD of KANTOR Business Consultants SA, one of the biggest business consultant agencies in Greece, with offices in Brussels, Warsaw, Bucharest and Sofia. He began his career as a business consultant in Coopers & Lybrand in the UK.
Board of Directors’ and Bank Committees
The Audit Committee is composed of at least three (3) non-executive members of the Bank’s Board of Directors, two (2) of whom are independent non-executive members. The Members of the Audit Committee are elected by the General Meeting of shareholders. The term of office of the Audit Committee’s members is three years. Renewal of the term of office or modification of the Audit Committee’s composition shall always be made by decision of the Bank’s General Meeting. In case of resignation of an Audit Committee’s member, the vacant position is filled upon decision of the Bank’s Board of Directors, which shall be submitted to the next General Meeting of shareholders for approval. The General Meeting shall also appoint the Audit Committee’s Chairman, who cannot exercise the duties of the Board of Directors’ Chairman or the Risk Management Committee’s Chairman. The Audit Committee’s member must have sufficient knowledge of the banking and in general financial sector.
The Committee shall, inter alia, monitor, examine and evaluate the financial reporting process and make recommendations or proposals to ensure its integrity, where appropriate.
It also assesses the scope of audits performed by the Certified Auditors and the External Auditors, their working methods and generally the services they are required to provide to the Bank and the Group.
It monitors, reviews and evaluates the adequacy and effectiveness of the Bank’s overall policies, procedures and safeguards with regard to the Bank’s Internal Audit System, quality assurance and risk management concerning financial reporting issues.
It oversees the adoption of accounting standards by the Bank, receiving fully reasoned information from the CFO including the implications of their implementation.
It facilitates communication between the Board of Directors, Management, Internal Audit and External or Certified Auditors and the Bank of Greece regarding the exchange of views and information.
Committee for the Nomination of Board of Directors’ members and (Remuneration of ATTICA BANK ATE
The Committee is composed of at least three (3) non-executive Board of Directors’ members, who, at least in their majority, including its Chairman, are independent non-executive members. The Committee’s Chairman and its members as well as the exact number of its members are appointed and determined, respectively, by decision the Bank’s Board of Directors.
The term of office of the Committee’s members is the same as their term of office as members of the Board of Directors. In the event a member leaves the Committee for any reason, such member is replaced by decision of the Bank’s Board of Directors. Until the decision on the replacement is adopted, the Committee will continue to operate as long as the number of the remaining members is at least three.
The Committee’s responsibilities, among others, include:
Planning and coordinating the implementation of the process of identifying and selecting candidates for the Board of Directors and its committees.
Describing the individual skills and qualifications required to fill the positions of the Board of Directors’ members and the estimated term to be devoted to the corresponding position.
Assessing periodically and at least annually:
the structure, size, composition and performance of the Board of Directors and submission of recommendations to the latter regarding any changes it deems appropriate;
the combination of broadness, knowledge, skills and experience per subject of the Board of Directors’ members on an individual and collective level and submission of a relevant report to the Board of Directors.
Validating the appointment of senior management executives, with the exception of the heads of the Internal Audit Division and the Regulatory Compliance & Corporate Governance Division, who are appointed by the Audit Committee and the head of Risk Management Unit who is appointed by the Risk Management Committee, after consulting with the Committee.
Assessing existing or potential conflicts of interests of the Board of Directors’ members with those of the Bank, including transactions of the Board of Directors’ members with the Group, and submission of relevant proposals to the Board of Directors, in accordance with the Bank's Internal Regulations and best international corporate governance practices.
This Committee, among others, deals with the planning and coordination of the implementation of the process of identifying and selecting Board of Directors’ members and its committees with the purpose of formulating proposals and submitting them for approval to the Board of Directors for the election of the Board’s members, in accordance with the legal and regulatory framework and the Bank’s Articles of Association.
Moreover, it submits proposals on the Remuneration Policy of the Bank’s and the Group’s personnel, including those that have an impact on the risks undertaken and their management and suggests to the Board of Directors the adoption of decisions.
It directly supervises the remunerations of the senior executives of the Risk Management Division, the Regulatory Compliance Division and the Internal Audit Division.
In addition, it informs, advises and assists the Board of Directors on the planning, formulation, review and oversight of the implementation of the Remuneration Policy and supports the Board of Directors.
The Committee’s Regulation is approved by the Bank’s Board of Directors and may be reviewed on a regular basis, at least annually or extraordinarily depending on changes in the parameters adopted during the ordinary review.
Risk Management Committee
The Risk Management Committee is responsible for carrying out the duties set out in this Regulation in order to be able to adequately inform the Board of Directors on all matters relating to the risk-taking strategy and the risk tolerance level in carrying out its duties. The Risk Management Committee is composed of at least 3 (three) non-executive Board of Directors’ members, of whom at least one (1) shall be an independent non-executive Board of Director’s member. One member (1), who cannot be the Board of Directors’ Chairman, is designated as the Committee’s Chairman.
The Committee’s members, both at individual and collective level, must have sufficient knowledge and experience in the area of risk management and, in particular, in risk management and control practices, to effectively cover all forms of risk, including operational risk and to ensure their unified control, their specialized treatment and the required coordination at the level of the Group’s Bank.
The Committee, among other things, advises and supports the Board of Directors regarding the monitoring the Bank's overall present and future risk-taking and risk-taking strategies, taking into account all types of risks, to ensure that they are consistent with the Bank's business strategy, objectives, corporate culture and corporate values.
It assesses annually the adequacy and effectiveness of the Bank's and the Group's risk management policy, and in particular compliance with the specified level of risk tolerance, the appropriateness of limits, the adequacy of forecasts and the general adequacy of equity in relation to the amount and form of the risks assumed, at least on the basis of the annual CRO report and the relevant extract of the Internal Audit Unit report. The Committee’s Regulation is approved by the Bank’s Board of Directors and is be revised whenever necessary, in accordance with any changes made.
The Executive Committee monitors and ensures the smooth and efficient operation of the Bank in implementing its strategy, business plan and budget, as approved by the Board of Directors. It is composed by at least eight (8) members, one of whom is the CEO, who is appointed as its Chairman.
The Committee monitors the achievement of the objectives at the Bank and Unit level, examines deviations, decides on corrective measures and provides guidance to the competent corporate structures. In addition, it specifies the implementation of the strategy, coordinating the actions of the Bank's Units, and decides the policy of developing the network and the Group.
Asset-Liability Management Committee (ALCo)
The Asset-Liability Management Committee (ALCO) is composed of at least 3 (three) members, one of whom is the Bank’s CEO, who is appointed as its Chairman, as well as of consultative members. The principal members may be either executive members of the Board of Directors or executives of the Bank.
It forms the policy of the Bank and the Group’s companies regarding the structure, pricing and management of Assets and Liabilities. It also monitors the financial developments and the basic business assumptions based on which the Bank formulates its policy.
Among other things, the Asset-Liability Management Committee (ALCO) decides the framework for undertaking and hedging liquidity and interest rate risks using the appropriate tools and sets out the broader interest rate policy of the Bank and the Group’s companies.
It determines and supervises the implementation of the Bank's internal pricing system and establishes the internal pricing policy between deposit / lending units and approves the liquidity contingency plan and diversifies the Bank's sources of cash flow.
It also approves the stress test program and examines the results of applying scenarios for extreme changes in capital markets and evaluates and approves the launch of new deposit or loan products as well as the Bank's expansion into new products or services that are compatible with its strategic planning.