Q2 2019

Wealth & Finance International - Q2 2019 9 A Paragon in Commercial Banking in the Islamic Republic of Afghanistan goals and future. “Azizi Bank ensures responsible and value-driven management practices are adhered to throughout its system of corporate governance, which is built on key elements of discipline, transparency, independence and fairness. As it strengthens its presence, Azizi Bank continues to review compliance, risk management skills, systems & processes and - where appropriate- it aims to enhance these further. The commitment applies to Azizi Bank’s relationship with its shareholders, customers, employees, suppliers, regulators and the community in which it operates.” Here Dr Omaid takes a moment to discuss each of Azizi Bank’s core characteristics in more detail. “In relation to discipline, we ensure that all employees and senior management members are committed to adhering to procedures, processes and hierarchies established by the bank. These are recognised and deemed to be correct and proper. Transparency remains critically important and mentioned in almost every policy. All actions implemented and the procedures that led to them are always available for inspection by authorised entities and stakeholders. “Similarly, mechanisms and regulations have been put in place to minimise or entirely avoid potential conflicts of interests such as undue dominance by the Chairman, Chief Executive or other shareholders. This mechanism ranges from the composition of the board to committee appointments and involve external parties such as auditors. Azizi Bank remains committed to independence. Moreover, Azizi Bank believes that responsible management would, whenever necessary, take appropriate actions to set and keep the bank on the right path. Whilst the board is accountable to the bank, it must act responsively to and with the responsibility towards all stakeholders. The individuals and committees who make decisions and take actions are truly help accountable for those decision and actions. Lastly, Azizi Bank believes in ‘fairness’, and each of the bank’s systems are balanced and take into account all those who have an interest in the bank and its future. The rights of the various groups involved have to be acknowledge and respected.” Dr. Omaid also spoke about their strategic plan, which details the banks goals through 2022. He reiterated that strategic planning is the process of determining the organization’s long term objectives and establishing the goals necessary to achieve them. The process involves in-depth analysis of current and anticipated conditions that may affect the organization’s ability to achieve the mission. Finally, it would be remiss to not mention Azizi Bank’s considerable efforts in the area of corporate social responsibility over the last few years. In his closing comments, Dr Omaid details some of the bank’s more recent and significant ventures. “Azizi Bank has taken a strong lead in Corporate Social Responsibility initiatives by providing aid and financial assistance to local educational institutions which include schools, colleges, universities and NGOs. The bank has also engaged itself with relevant ministries in supporting female empowerment, cultural enhancement and “Azizi Bank continues to review compliance, risk management skills, systems & processes and - where appropriate- it aims to enhance these further. The commitment applies to Azizi Bank’s relationship with its shareholders, customers, employees, suppliers, regulators and the community in which it operates.”