The Board of Directors (“the Board”) of Syarikat Takaful Malaysia Berhad is mindful of the need to protect the interests of the Company’s shareholders as well as its other stakeholders. In discharging its duties effectively, the Board is provided with the Board’s Terms of Reference (“TOR”), a reference tool for Directors in relation to the Board’s role, powers, duties and functions.
The TOR reflects applicable rules and regulations and outlines processes and procedures to ensure the effectiveness and efficiency of the Company’s Board and its committees. It is a dynamic document that is updated from time to time to reflect changes to the Company’s policies, procedures and processes as well as amended rules and regulations.
The Board’s TOR comprises, amongst others, authority limits for the Board and the relevant internal policies. The topics covered by the TOR are as follows:
- Board’s authority
- Board’s composition
- Board’s roles and responsibilities
- Directors’ attendance
- Responsibility of Chairman
- Responsibility of Directors
- Board’s disclosures of information