KENANGA ANNUAL REPORT 2020

53 ANNUAL REPORT 2020 // KENANGA INVESTMENT BANK BERHAD 4. Training Programmes Attended by Members of Shariah Committee The training programmes attended by the Shariah Committee members during the Financial Year Ended 31 December 2020 are provided below. Title of Training Programme Attended By 1. Pricing Policy of Takaful Products - FWD Takaful Dr. Ghazali Jaapar ( “DGJ” ) 2. Takaful Products Development - FWD Takaful DGJ 3. Cyber Security and Risk Management in Technology Dr. Mohd Fuad Md Sawari ( “DFS” ) 4. Takaful Operational Framework Operational Policies DFS 5. Certified Shariah Adviser Certification: Legal Regulatory Framework Dr. Mohammad Firdaus Mohammad Hatta ( “DMF” ) 6. Certified Shariah Adviser Certification: Introduction to Commercial Law DMF 7. Workshop on Registration of Financial Services Industry Terminologies DMF 8. Malaysian Postgraduate Workshop Series DMF Succession Plan 1. Board and Board Committee The Board had, in October 2015, formalised the Board Succession Planning Framework ( “Framework” ) which entails the guiding principles for effective succession planning, as well as, the detailed procedure in ensuring a smooth transition in the Board’s process and functioning as existing Directors leave and new ones come on board. This Framework is reviewed on an annual basis to ensure its alignment with the latest development in the relevant regulatory requirements, if necessary. 2. Senior Management In July 2015, the Board had, upon the NRC’s recommendation, approved the Talent and Succession Management Framework and Methodology for the Group, which aims at ensuring ready successors for leadership positions capable of driving business growth and achieving the Group’s strategic business plan, ensuring a pool of qualified and competent staff prepared and ready to fill up critical positions within the Group as and when required; and ensuring effective development, engagement and retention of high potential employees. Non-Executive Directors’ Remuneration Framework The Company aims to set remuneration levels which are sufficient to attract and retain the Directors and Senior Management needed to operate the Company successfully, taking into consideration all relevant factors including the functions, workload and responsibilities involved, but without excessively overpaying to achieve its goal. With regard to the level of remuneration of the GMD and Senior Management personnel, it is determined by the NRC after giving due consideration to compensation levels of comparable positions of other similar companies in Malaysia. The NRC carries out the annual review of the overall remuneration policy for Directors, the GMD and Senior Management whereupon recommendations are submitted to the Board for approval. The NRC also reviews annually the performance of the GMD, Chief Executive Officers of the subsidiaries of the Company, as well as, Senior Management and make appropriate recommendations to the Board for approval accordingly. The remuneration of GMD and Senior Management are made up of two (2) components i.e. fixed basic salary and a variable component comprising the annual discretionary performance bonus and share awards under the Employees’ Share Scheme. The share awards will only be vested upon the GMD and Senior Management meeting the agreed Key Performance Indicators. Details of such share awards are set out in Note 55 of the Financial Statements section of this Annual Report. For the Financial Year Ended 31 December 2020, the Directors and Shariah Committee Members are paid the following annual fee and meeting allowance for each meeting of the Board, Board Committee or Shariah Committee that they have attended, respectively: Fees Financial Year Ended 31 December 2020 Chairman of the Board RM520,000.00 (1) Deputy Chairman of the Board RM390,000.00 Director RM270,000.00 Chairman of AC/ NRC/ GBRC/ GBDITC RM40,000.00 Chairman of Shariah Committee (2) RM71,900.00 Member of AC/ NRC/ GBRC/ GBDITC RM30,000.00 Member of Shariah Committee (3) RM45,000.00 RM50,500.00 RM42,500.00