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AFGHANISTANINTERNATIONAL BANK(AIB)RELATED PARTY POLICY ANDPROCEDURES MANUALApproved in July, 2012Last Reviewed in August 2017
AFGHANISTAN INTERNATIONAL BANKRELATED PARTY POLICY AND PROCEDURES MANUALTABLE OF Updating the Manualiiiiiiiiiiiii1DEFINITIONS12RELATED PARTY POLICY43IDENTIFICATION OF RELATED PARTIES54APPROVAL OF RELATED PARTY TRANSACTIONS65RECORDING AND REPORTING OF RELATED PARTYAND RELATED PARTIES TRANSACTIONS8FORMSIRelated Parties Declaration FormIIRelated Parties Identification FormIIIMaster List of Related PartiesIVRelated Parties Reporting FormVTemplate for Board Reporting1011121415Revision History16INTRODUCTIONA.OBJECTIVEThe objective of this Manual is to: Document in detail the policy and practices of the Bank with respect to related parties. Use the documentation as a basis for internal initiatives for system improvement andstrengthening of internal controls. Develop a base document ensure the related party policy is being fully implemented andfollowed.i
AFGHANISTAN INTERNATIONAL BANKRELATED PARTY POLICY AND PROCEDURES MANUALB.SCOPEThis document prescribes the policy and procedures for identification, reporting and monitoring ofrelated parties and related party transactions. This manual is subject to the Banking Law ofAfghanistan and regulations or other guidance by the Da Afghanistan Bank.C.APPLICABILITYThis document is intended to provide guidance to all employees of the Bank.D.CLARIFICATIONSRequests for clarifications of or explanations on the content presented in this Manual should beaddressed to the Chief Risk Officer (CRO).E.RESPONSIBILITYThe Board of Supervisors in discharge of their oversight responsibilities established, administer andinterpret this Policy. The Audit Committee is responsible for reviewing and ensuring compliance withthis policy and procedures set forth herein.This document is to be treated as confidential. No part of this Manual may be photocopied or takenout of office premises. All Manual holders are required to return the Manual intact to CRO onseparation from the Bank.ii
AFGHANISTAN INTERNATIONAL BANKRELATED PARTY POLICY AND PROCEDURES MANUALF.UPDATING THE MANUALThe Bank may need to update this Manual to reflect changes in policies or procedures as may bedecided from time to time and/ or to comply with changes in regulations issued by the Central Bank- Da Afghanistan Bank (DAB).Revisions shall be incorporated in the following manner:(a) Responsibility for arranging revisions is assigned to the CRO (or in his absence hisdeputy).(b) Any changes proposed to be made should be drafted and forwarded to CRO with acopy of the relevant section proposed to be modified.(c) CRO should review the proposals and invite comments from relevant functional heads/management board.(d) Based on comments received, CRO should prepare a revised draft of the procedure(s),highlighting the proposed changes.(e) The revised draft should be circulated to concerned functional heads/ managementboard for concurrence as to text and date of effectiveness.(f) The revised concurred draft should be presented to the Audit Committee for theirconsideration with respect to applicability and onward recommendation to the RiskCommittee and eventually to the Board for approval.(g) Following the above approval process, the CRO should:i.arrange preparation of revised copies for circulationii.arrange for circulation of the revised section(s) to all manual-holders as well asstaff in possession of the Manual. The revised section(s) should specifically bearthe date from which the changes will be effective and revision history should beupdated to give effect to the revisioniii.recall all superseded pagesiv.destroy all superseded copiesv.retain his superseded copies as permanent recordiii
AFGHANISTAN INTERNATIONAL BANKRELATED PARTY POLICY AND PROCEDURES MANUALCHAPTER 1:1.1DEFINITIONSThe following terms are used in this Manual with the meanings specified:Bank, unless otherwise stated, refers to Afghanistan International Bank.Board, unless otherwise stated, refers to the Board of Supervisors of the Bank.Qualifying holding means having, alone or acting in concert with one or more other persons, thebeneficial ownership of at least 5% of any category of voting shares or capital of an enterprise; or theability to exert a significant influence over the management or policies of an enterprise.Related Person A related person includes where the interests of two or more persons or a group ofpersons are so interrelated that they could be considered as a single unit, and one or more of thesepersons are a related person, then they are all considered related persons.Accordingly the following are considered among the related parties of AIB:--Members of the Board of Supervisors and Management Board of the BankAny person having a qualifying holding in the bank, and close relatives of this personEnterprises in which AIB may have a 20% participationKey management personnel of AIB: Audit committee members Internal audit function and Independent audit function Risk committee members Credit committee members Compliance function Department heads Other key personnelClose relative of the above are also considered as related party as well.Close Relative” of a person includes parents, spouse, son, daughter, sister, brother, and other relativesof the person, up to the second degree.A related party transaction is a transaction between a bank and an existing related person or aperson who becomes a related person by reason of the conclusion of the transaction, wheretransaction includes:- on-balance sheet exposure- off-balance sheet exposure- claims and dealings as well such as service contracts, assets purchases and sales, constructioncontracts, lease agreements, etc.- derivative transactions,borrowings; and- write-offspage 1 of 21
AFGHANISTAN INTERNATIONAL BANKRELATED PARTY POLICY AND PROCEDURES MANUALCompensation includes all employee benefits* including employee benefits in the nature of sharebased payments†. Employee benefits are all forms of consideration paid, payable or provided by theBank, or on behalf of the Bank, in exchange for services rendered to the Bank. Compensationincludes:(a)short-term employee benefits, such as wages, salaries and social securitycontributions, paid annual leave and paid sick leave, profit-sharing and bonuses (ifpayable within twelve months of the end of the period) and non-monetary benefits(such as medical care, housing, cars and free or subsidised goods or services) forcurrent employees;(b)post-employment benefits such as pensions, other retirement benefits, postemployment life insurance and post-employment medical care;(c)other long-term employee benefits, including long-service leave or sabbatical leave,other long-service benefits, long-term disability benefits and, if they are not payablewholly within twelve months after the end of the period, profit-sharing, bonuses anddeferred compensation;(d)termination benefits; and(e)share-based payment.Control is the power to govern the financial and operating policies of the Bank so as to obtainbenefits from its activities.Joint control is the contractually agreed sharing of control over an economic activity.Key management personnel are those persons having authority and responsibility for planning,directing and controlling the activities of the Bank, directly or indirectly, including any director of theBank.Significant influence is the power to participate in the financial and operating policy decisions ofthe Bank, but is not control over those policies. Significant influence may be gained by shareownership, statute or agreement.AssociateAn associate is an entity, including an unincorporated entity such as partnership, over which theinvestor has significant influence and that is neither a subsidiary nor an interest in a joint ventureJoint ventureA joint venture is a contractual arrangement whereby two or more parties undertake an economicactivity that is subject to joint control.1.2*In considering each possible related party relationship, attention is directed to the substanceof the relationship and not merely the legal form.Employee benefits are all forms of consideration given by the Bank in exchange for services rendered by employees.A transaction in which the Bank receives goods or services as consideration for equity instruments of the Bank (includingshare or share options), or acquires goods or services by incurring liabilities to the supplier of those goods or services foramounts that are based on the price of the Bank’s shares or other equity instruments of the Bank.page 2 of 21†
AFGHANISTAN INTERNATIONAL BANKRELATED PARTY POLICY AND PROCEDURES MANUAL1.3Any term, word or expression used herein but not defined in this Manual or the InternationalFinancial Reporting Standards shall be assigned the meaning as under the Banking Law ofAfghanistan and/or the related regulation issued by Da Afghanistan Bank.*****page 3 of 21
AFGHANISTAN INTERNATIONAL BANKRELATED PARTY POLICY AND PROCEDURES MANUALCHAPTER 2:RELATED PARTY POLICY2.1It is the policy of the Board of Supervisors of the Bank that all transactions with the relatedparties shall be subject to advance approval or ratification by a majority of the Board inaccordance with the procedures set forth below, to be administered by the ManagementBoard of the Bank and reviewed by the Audit Committee of the Bank.2.2The followings are exceptions to the above in 2.1:a. Deposits in the Bank made by its Related Persons in the normal course of business.b. Making deposits in the Bank that is a member of the same group, in the ordinarycourse of correspondent business, subject to Asset Classification and ProvisioningRegulation in any future directives issued by Da Afghanistan Bank.c. Granting credit fully secured by a deposit account, subject to satisfying the coveragerequirements mentioned in paragraph 2.6 below, and in accordance to the AssetClassification and Provisioning Regulation and in any future directives that may beissued by Da Afghanistan Bank.d. Granting credit fully secured by obligations of, or guaranteed as to principal andinterest by, a central government or central bank whose long-term rating is not lowerthan “A” or an equivalent level by an internationally-recognized rating agency whoseratings are approved for use by Da Afghanistan Banke. Selling a loan to a related person of the bank without recourse.2.3a. All transactions with related parties shall be carried out on arm’s length basis, on sameterms and conditions as the Bank generally offers to, or generally obtains from persons notbeing a related party. This includes the interest rate, term, acceptable collateral and level ofrisk and this also includes selling of any bank asset to a related party or purchasing assetsfrom a related party. The decision on a related person’s transaction should be made onlyafter necessary information as reasonable required is received and it is reviewed as any othercustomer.b. The Bank is prohibited from granting credit in cases where the credit is used for thefollowing purposes:(a) In order to pay bank related person’s debt or obligation;(b) In order to purchase bank related person’s assets;(c) In order to invest in bank related person’s trade;2.4It prevent any conflict of interest, a Board of Supervisors member that might be connected tothe related party transaction subject to approval, is not allowed to vote for this transaction2.5The Bank’s Board of Supervisors has the overall responsibility for the Bank’s implementationof and compliance with this Policy and the procedures set forth below.2.6AIB will not extend credit to a related party on an unsecured against collateral, andwhich must provide the following level of prescribed coverage:(a) 100% cash coverage, assuming no currency mismatch between that of the exposureand the collateral.(b) A minimum 20% margin for different currency, and depending on the fluctuation rate,unless it is well proven that the currency of the collateral is more stable, e.g. exposurein AFs and collateral in USD.page 4 of 21
AFGHANISTAN INTERNATIONAL BANKRELATED PARTY POLICY AND PROCEDURES MANUAL(c) Guaranteed by Central Governments Central Banks claims whose long term ratingis A or equivalent, by rating agencies acceptable by DAB, and where the marketvalue of the collateral must be a minimum of 100% of the exposure amount;(d) If all other cases, the liquid market value or liquidation value of the collateral mustbe a minimum 120% of the credit amount;2.7If credit has been disbursed to a related person in breach Policy, such credits must berepaid immediately.2.8Supervisory board members and management board members who approved a relatedparty transaction in breach of this Policy and /or the related Banking Law and DABregulation, are liable to criminal prosecution for fraud perpetrated on the bank andresponsible individually for refunding the full amount of principal, interest and other relatedcharges of credit extended.2.9AIB will deduct from its regulatory capital the full amount of any unsecured creditexposure to a related person.CHAPTER 3:IDENTIFICATION OF RELATED PARTIES3.1Declaration by shareholders and directors3.1.1Each shareholder and director shall identify his/her related parties (as defined in ‘Definitions’above) by completing the “Related Parties Declaration Form” (see Form I). The form isrequired to be submitted annually to the Bank with the CRO, through the Board Secretary,latest by December 31 each year or within seven (7) days of becoming a shareholder ordirector, whichever is earlier. The shareholders and the directors shall notify the Bank of anyupdates to the information in case of any change therein within seven (7) days of the change,CRO shall report to the board quarterly on non-compliance with reporting requirement.3.1.2Shareholders/directors have an obligation to disclose to the Board any interest they may havein any matter or transaction coming before the Board or in any matter or transaction in whichthe Bank may have an interest. Any interested director/ shareholder shall not have the rightto vote in respect of that matter or transaction under approval.3.2Disclosure by key management personnel and other employees3.2.1Members of key management personnel and other employees mentioned and/or defined inChapter one of this policy, have legal obligation to disclose to the Bank any interest they mayhave in any matter or transaction in which they may have an interest. Any interested membershall not be involved in the decision making, processing, implementation, or affecting by anymeans, in respect of that matter or transaction.3.2.2CRO will circulate to the key management personnel the “Related Parties Identification Form”(see Form II) on semi-annual basis latest by June 30th and December 31st. Such form isrequired to be completed and returned within seven (7) days of receipt from CRO. CRO shallreport to the board quarterly on non-compliance with reporting requirement.3.2.3Key management personnel and other employees are also required to immediately, report tothe CRO about a change in status of related party/ or a related party transaction with theBank in which he/ she or his/ her related party(ies) may be involved.page 5 of 21
AFGHANISTAN INTERNATIONAL BANKRELATED PARTY POLICY AND PROCEDURES MANUALCHAPTER 4:APPROVAL OF RELATED PARTY TRANSACTIONS4.1The Management Board of the Bank has the required to review, assess, and, recommend tothe Board of Directors a related party transaction.4.2In determining whether to recommend or not recommend a related party transaction, theManagement Board shall require sufficient information and documentation to makethemselves satisfied in making an informed decision.4.3In connection with approving or ratifying a related party transaction, the Management Boardshall, in its judgment, consider any or all of the following factors to the extent pertinent, orsuch other factors as the Management Board may deem appropriate under thecircumstances:(a)the position within or relationship of the related party with the Bank;(b)the materiality of the related party transaction to the related party and to the Bank,including the value involved (the Management Board may define a materiality limitto be approved by the Board);(c)the business purpose for and reasonableness of the related party transaction(including the anticipated profit or loss, if known), taken in the context of thealternatives available to the Bank;(d)whether the related party transaction is carried out on an arms-length basis (onterms that the Bank offers generally to, or obtains generally from, persons whoare not related parties;(e)whether the related party transaction is in the ordinary course of the Bank’sbusiness;(f)the effect of the related party transaction on the Bank’s financial condition,business and operations, including any additional conditions or controls thatshould be applied to such related party transaction;(g)whether the related party transaction involves products or services to be providedby or to the Bank to or from a related party, which products or services are uniqueor otherwise not readily available from alternative sources; and(h)the overall business relationship of the applicable related party and the Bank,including benefits realized, or anticipated, from other contracts, transactions orrelationships.4.4If a member of the Management Board and/or the Board of Supervisors, and /or the keymanager or head is a related party with respect to a particular transaction, the vote of suchmember shall be obligated to abstain from discussion and not be counted in determiningwhether the transaction is approved or ratified. The decision of the members eligible to votewill be by simple majority with Chairman having two votes in the case of a tie.4.3The Board of Supervisors is obliged, in its meeting minutes, to(a) Specify the key terms and conditions of a related party transaction(b) Confirm that the related party transaction is entered into on an arm’s lengthbasis; and(c) Affirm that it is in the reasonable best interest of the bank to enter into therelated party transaction;page 6 of 21
AFGHANISTAN INTERNATIONAL BANKRELATED PARTY POLICY AND PROCEDURES MANUAL(d)Identify the members of the Board approving the transaction.4.4AIB’s Board of Supervisors is the only body authorized to write-off a related party exposure,which must be properly motivated and recorded.4.5Where the Bank had entered into a related party transaction, such transaction shall bepresented to the Audit Committee in its next meeting to be noted and opined as to whetherthe transaction is in compliance with policy and procedures. The Audit Committee mayrecommend corrective action if considered necessary to the management. Transactionsconsidered to be non-compliant by the Audit Committee and any difference opinion betweenthe Audit Committee and Management shall be reported to the board and shareholders.4.7A member of AIB’s Management Board and/or Board of Supervisors shall not participate inthe consideration of approval of an transaction between the bank and(a) Himself(b) His close relatives(c) An enterprise in which he or any of his close relatives has a qualifying holding, orserves as a member of the board of supervisors, management board, or equivalentbody.CHAPTER 5:5.15.2Limitations and Maximum Exposure Allowed of RelatedPersons ExposureAIB must stick in all times to the following limits in relation exposures to related persons:(a) 5% of the regulatory capital of the bank, for related person or group of connectedrelated person.(b) 25% of the regulatory capital of the bank, for the aggregate of total exposures ofrelated persons.AIB will require prior supervisory approval from DAB for any large exposure, i.e. exceeding10% of the regulatory capital, it wishes to undertake.5.3Outstanding credits and/or exposures in excess to the aforementioned limits, should bededucted from the qualifying regulatory capital components.5.4It should be well known, by the virtue of DAB directions, that AIB will be prohibited fromentering into new related party transactions in the following cases:(a) While it is in breach of the regulatory capital adequacy requirement(b) In the event that a related party transaction would result into a breach of the regulatorycapital adequacy requirement5.5AIB is prohibited from performing any of the following transactions with a related person:(a) A transaction on terms which are more advantageous than a correspondingtransaction it enters into with a non-related person, e.g. in credit assessment, tenor,interest rates, fees, amortization schedules and requirement for collateral.(b) Selling an asset for less than its liquid market value or fair value to a related person.(c) Purchasing sub-standard quality goods or assets from a related person;page 7 of 21
AFGHANISTAN INTERNATIONAL BANKRELATED PARTY POLICY AND PROCEDURES MANUAL(d) Accepting as a collateral assets which are sub-standard or quality goods or assetsand do not constitute qualifying collateral.The followings are deemed to be low-quality assets:(a) Assets which are classified Sub-standard, Doubtful and Loss pursuant to AIB’sstandards or a Afghanistan Bank’s regulation and recent supervisory report;(b) Assets which do not generate a consistent and regular income or benefit for the bank;(c) Assets which are overdue more than thirty days;(d) Assets in relation to which the expiry date has been extended and/or repaymentconditions have been re-scheduled on more favourable terms to the client, due tounfavourable financial condition of the debtor.page 8 of 21
AFGHANISTAN INTERNATIONAL BANKRELATED PARTY POLICY AND PROCEDURES MANUALCHAPTER 6:RECORDING AND REPORTING OF RELATED PARTIESAND RELATED PARTY TRANSACTIONS6.1The delegated responsibility for recording and reporting related parties and related partytransactions rests with the Chief Risk Officer (CRO). CRO is responsible for coordinating withrespective departments for compilation of related parties and related party transactions (forexample: the operations department and credit administration department).6.2RECORDING6.2.1Compliance Department shall be responsible for maintaining of records relating to all formsreceived from shareholders, directors and key management personnel and any updatestherein as received from concerned party with respect to Related Party Transactions.6.3.2Compliance Department shall compile the information collected pursuant to the proceduresdescribed above and create and maintain a Master List of Related Parties on formatprescribed in Form III. Such master list (and any updates thereof) shall be distributed toappropriate senior management of the Bank. The recipients of the master list shall utilize theinformation contained therein, in connection with their respective business units, departmentsand areas of responsibility, to assist in effective implementation of this Policy.6.4REPORTING6.4.1The Master List of Related Parties shall be presented to the Audit and Risk Committee at theend of each quarter and to the Board on an annual basis.6.4.2On a monthly basis, each department will submit to CRO, the information regarding relatedparty transactions on format prescribed in “Related Parties Reporting Form” (see Form IV).Such form is required to be completed and returned to CRO within seven (7) days of end ofeach month. On receipt of forms, CRO shall compile all information for reporting purposes.6.4.3CRO shall be responsible for reporting to the Audit Committee, at the end of each quarter,transactions and balances including nature/ comments thereon in respect of all related partiestransactions entered into as of the period end. Template for Audit Committee Reporting (seeForm V) shall be used for reporting related party balances and transactions to the Board.6.4.4The Bank’s annual and interim financial statements are prepared in accordance withInternational Financial Reporting Standards (IFRS). Accordingly, related party disclosure inthe financial statements will be in compliance with IFRS. The applicable IFRS on relatedparties is the International Accounting Standard – 24: Related Party Disclosures (IAS 24).Form IV (Related Parties Reporting Form) and form V (Template for Audit CommitteeReporting) contains the required information for ensuring the Bank’s compliance with IAS 24.Information compiled through form IV and form V shall be used for the preparation of relatedparty disclosure in the annual and interim financial statements.5.4.5Bank must report on a quarterly basis information on related person transactions and exposures toDa Afghanistan Bank. The report must contain the following:(a) Regarding related person credits – a listing of individualI.Related person credits to which the bank is committed as at the end of the latestquarterII.Related person credits which the bank extended during the latest quarterIII.Related party credits outstanding as at the end of the latest quarterIV.Related party credits classification (individually) (Watch; Sub-standard; Doubtful;page 9 of 21
AFGHANISTAN INTERNATIONAL BANKRELATED PARTY POLICY AND PROCEDURES MANUALand Loss)Related party credits provisions (Provisions raised in respect of each of therelated person credits)VI.Related party credits write-offs (individually; with full explanation of motivation ofwrite off)(b) Related person’s name, outstanding amount, maturity date, and other importantdebt deal's terms and conditions must be reported.(c)6.4.5 The policy on related party transaction shall be put on the bank website and a web link shallbe provided in the annual report.V.page 10 of 21
AFGHANISTAN INTERNATIONAL BANKRELATED PARTY POLICY AND PROCEDURES MANUALFORM IRELATED PARTIES DECLARATION FORM(to be completed by shareholders and directors)Refer chapter 3: Declaration by shareholders and directors (3.1.1)NAMENATIONALITYRELATIONSHIP WITH THE BANKRELATED PARTIES:(for definition of related party, please refer to AIB Related Party Policy and Procedures Manual)INDIVIDUAL'S CLOSE FAMILY MEMBERS(for definition of close family member, refer AIB Related Party Policy and Procedures Manual)NameRelationship with the family member123456789101112NAME OF THE ENTITIES IN WHICH THE INDIVIDUAL HAS INTEREST (control or significant influence)(for definition of control and significant influence, refer AIB Related Party Policy and Procedures Manual)NameRelationshipEffective date of relationship12345678910DECLARATIONI, hereby confirm that the above information is correct and completeto the best of my knowledge and belief and that I am aware of the definition of the related party and relatedparty transaction as defined in the AIB Related Party Policy and Procedures Manual. I further acknowledge myresponsibility to notify the Bank of any updates to the above information as soon as possible.Signature:Date:page 11 of 21
AFGHANISTAN INTERNATIONAL BANKRELATED PARTY POLICY AND PROCEDURES MANUALFORM IIRELATED PARTIES IDENTIFICATION FORM(to be completed by key management personnel)Refer chapter 3: Disclosure by key management personnel (3.2.2)NAMENATIONALITYRELATIONSHIP WITH THE BANK (Refer to the Related Party Definition)RELATED PARTIES:(for definition of related party, please refer AIB Related Party Policy and Procedures Manual)INDIVIDUAL'S CLOSE FAMILY MEMBERS(for definition of close family member, refer AIB Related Party Policy and Procedures Manual)NameRelationship with the family member123456789101112NAME OF THE ENTITIES IN WHICH THE INDIVIDUAL HAS INTEREST (control or significant influence)(for definition of control and significant influence, refer AIB Related Party Policy and Procedures Manual)NameRelationshipEffective date of relationship12345678910DECLARATIONI, hereby confirm that the above information is correct and complete to the bestof my knowledge and belief and that I am aware of the definition of the related party and related party transaction asdefined in the AIB Related Party Policy and Procedures Manual. I further acknowledge that I am required to report to theBank of any updates to the above information as soon as possible.Signature:Date:page 12 of 21
AFGHANISTAN INTERNATIONAL BANKRELATED PARTY POLICY AND PROCEDURES MANUALForm III page 1 of 2FORM IIIMASTER LIST OF RELATED PARTIES(to be compiled by CRO)Refer chapter 5: Recording and reporting of related parties and related party transactions (5.3.2)AFGHANISTAN INTERNATIONAL BANKINFORMATION UPDATED AS OFA. SHAREHOLDERS/ DIRECTORSNAMERELATIONSHIP12345678910B. KEY MANAGEMENT PERSONNEL or Members of the Same Group or EnterpriseNAMEDESIGNATION12345678910C. CLOSE FAMILY MEMBER OF THE INDIVIDUAL (referred in A and B 4151617181920page 13 of 21
AFGHANISTAN INTERNATIONAL BANKRELATED PARTY POLICY AND PROCEDURES MANUALForm III page 2 of 2ENTITIES IN WHICH INDIVIDUALS (referred in A and B above) HAS INTEREST (control or significant influence)NAMEINDIVIDUALRELATIONSHIPEFFECTIVE DATEOF RELATIONSHIP123456789101112131415Prepared by:Reviewed by:Date:page 14 of 21
AFGHANISTAN INTERNATIONAL BANKRELATED PARTY POLICY AND PROCEDURES MANUALFORM IVRELATED PARTIES REPORTING FORM(to be completed by each department on monthly basis)Refer chapter 5: Recording and reporting of related parties and related party transactions (5.4.2)AFGHANISTAN INTERNATIONAL BANKRELATED PARTIES BALANCES AND TRANSACTIONSThe following information is required in respect of each related party:BALANCESLoans and advancesRelated party 1Related party 2Related party 3Related party nName of the related partyOpening balanceDisbursementsRepaymentsExchange gain/ (loss)Closing balanceClassificationProvision amountInterest rate (%) p.aDisbursement dateTenureCollateralValue of col
Bank, or on behalf of the Bank, in exchange for services rendered to the Bank. Compensation includes: (a) short-term employee benefits, such as wages, salaries and social security contributions, paid annual leave and paid sick leave, profit-sharing and bonuses (if payable within twelve months of the end of the period) and non-monetary benefits .
