Annual Report for the Corporate Governance of HSBC Bank Oman

Annual Report for the Corporate Governance of HSBC Bank Oman

            Every firm has its own corporate governance which is involved in performing the all task of the company in active manner and in very well manners. The sequenced and arranged corporate governance can performed the all task of the HSBC Bank Oman in very good and arranged way. The annual report of the HSBC Bank Oman according to the perspective of the corporate governance is conducted according to the four major areas which are; Values, Philosophy of governance, duties & nominations of Board of Directors and  core competency & characteristics of Board of Directors (HSBC Group 2018, 2018).

Values of the Corporate Governance of HSBC Bank Oman

        The boards of directors of the HSBC Bank Oman are devoted for the highest standards of the corporate governance for creating the long term values and achieving the strategic goals for their valued stake holders. 

The major value proposition of the HSBC Bank Oman is;

Doing right things to be dependable,

Introducing the different ideas according the culture

Maintaining the connection with the regulators, communities and customers

All the values of the HSBC Bank Oman is based upon the sound principals of the business as;

HSBC Bank Oman maintain its financial strength in good manner

It always take of the sustainability and risk management

Philosophy of the Corporate Governance of HSBC Bank Oman

HSBC Bank Oman’s philosophy of governance is based on the following principals;

It has accountable and effective board of directors

For the business development it has clear strategic direction

It always proceeds with the sensible accounting information and principals.

The board of the Philosophy of HSBC Bank Oman has Sound decision-making mechanisms.

Their all strategies are linked with the evaluation of performance.

HSBC Bank Oman has strong human resource development.

Duties & nominations of Board of Directors

The present board of the HSBC Bank Oman is contains on the seven members and these all seven members are working as independent and non-executives.

The term of the board is started for the time period of the three years in 2015 on 30th March and the election for the nest board was held on the 29 March 2018.

If there would be any vacancy raised in the HSBC Bank Oman it will be filled momentarily by the board till the announcement of the election of the next (AGM) Annual General Meeting.

This board meets the all requirements which are by the laws of the all commercial companies and company ordinance.

Core competency & characteristics of Board of Directors

HSBC Bank Oman is committed to making sure the all the seven directors will hold the following characteristics which are;

For their personal and professional dealing they will perform according to the high ethical integrity and standards.

They show high wisdom and intelligence that can be used for making the sound decisions.

They must have to skills and abilities to understanding and reading the financial statements of the HSBC Bank Oman

They must have potential for contributing in the effective stewardship of HSBC Bank Oman

They must have ability to performing the high standard in the long term pressure

They must have capacity to approach many other cooperatively, assertively and responsibly

They have capacity to consulting and activating the employees of HSBC Bank Oman for reaching their higher standards of the management (About Hsbc Co, 2018).