Transactions with all related parties are thoroughly reviewed as having been conducted in the ordinary course of business and in accordance with existing policies of the bank, at arm’s length basis, at fair market prices, and upon terms not less favourable to the Bank and compared to similarly situated non-related third-party clients. All material Related Party Transactions (RPTs) are reviewed and vetted by RPT Committee before they are presented to the Board for approval. To ensure that RPT are engaged into terms that promote the best interest of the Bank and its stakeholders, a Price Discovery mechanism is observed which shall include price comparison from the market, bidding, and publication of available property for sale, among others. The Bank’s RPT policy will be kept relevant and aligned with the latest regulatory issuances, to serve as a guide in dealing with related parties.
Click here to read the RPT Policy and Guidelines
