Board of Directors
The Gatehouse Board of Directors has a general duty to ensure that the Bank conducts its business in accordance with all relevant statutory and regulatory Shariah requirements.
The general duty includes specific responsibilities for ensuring that:
- The business has an effective system of internal control and management of business risks and is conducted in accordance with the FSA’s principles for business;
- Adequate records are maintained to the satisfaction of the Board of Directors;
- A strong capital base is maintained to support the development of the Bank’s business and to meet regulatory capital requirements at all times;
- The Bank’s Compliance department and internal and external auditors are capable of undertaking their duties;
- An integrated system of planning and budgeting is in place to ensure that the Bank can efficiently and effectively achieve its strategic objectives;
- The composition of the Board is reviewed to reflect current and future business requirements.
Gatehouse has chosen its independent non-executive directors on the basis of the experience and skill-set that they contribute to the Board.
