Audit Committee:

Responsibilities of Audit Committee:

• Assist the Board of Directors in fulfilling its overall responsibilities for the financial reporting process
• Review the systems of internal control and risk management
• Monitor the effectiveness of the internal audit function
• Review the Company’s process for monitoring compliance with laws and regulations
• Review the independence and performance of the external auditors
• To make recommendations to the board on the appointment of external auditors and recommend their remuneration and terms of engagement

Remuneration Committee:

The Remuneration Committee of RPFL will consist of two independent non executive directors.

Responsibilities of Remuneration Committee:

• Review and recommend policies on remuneration of the Executive Staff to the Board of Directors
• Review and recommend specific remuneration package for the Executive Directors

Risk Management Committee:

Board of Directors of RPFL admire that the “Risk” is the most important factor controlled and managed in the proposed finance company. In order to facilitate this task effectively and efficiently the board will take necessary steps to appoint a separate team for the risk management of RPFL.

Risk management committee will comprise of the following officials of the company.

• One Non Executive Independent Director
• CEO
• Head of Finance
• Head of Risk Management
• Head of Deposits
• Head of Collection and Recoveries

Responsibilities of Risk Management Committee:

• Assess all risks relating to Credit, Market, Liquidity, and Operational and Strategic risk
• Review the adequacy & effectiveness of all management level committees
• Submit a risk assessment report to the Board of Directors
• Ensure the compliance with laws, regulations, directions, rules, regulatory guidelines, internal controls and approved policies on all areas of business operations.