OUR LEADERSHIP TEAMS
Leadership
Company Structure
Corporate Governance
CIB Kenya is committed to maintaining the highest standards of corporate governance, in line with the Central Bank of Kenya (CBK) guidelines and international best practices. The Bank’s governance structure is designed to ensure accountability, transparency, and effective oversight across all levels of the organization.
Board of Directors and Subcommittees
The Board of Directors of CIB Kenya has established various subcommittees to assist in executing its oversight responsibilities efficiently. Each committee operates under specific terms of reference and reports regularly to the Board.
Board Audit Committee (BAC)
Mandated by CBK, this committee oversees the Bank’s financial reporting, internal controls, and compliance with statutory obligations. It meets quarterly and plays a vital role in ensuring financial integrity.
Board Risk Management Committee (BRMC)
Responsible for oversight of the Bank’s risk management framework, this committee ensures the adequacy of risk assessment and mitigation processes covering all risk categories, including credit, market, operational, and cyber security.
Board Credit Committee (BCC)
Tasked with monitoring credit risk, the BCC oversees the lending policy, reviews credit portfolio quality, and ensures alignment with the Bank’s risk appetite and regulatory compliance.
Board Nomination & Human Resources Committee (BNHRC)
This committee ensures an optimal board composition, promotes diversity and skill mix, and oversees compensation structures in line with performance and governance expectations.
Board Responsibilities
The Board of Directors has the ultimate responsibility for guiding CIB Kenya’s strategic direction, overseeing management, and ensuring robust internal controls. Key responsibilities include:
Approving strategic plans and monitoring execution.
Ensuring compliance with legal and regulatory requirements.
Overseeing internal and external audit processes.
Monitoring risk management and internal control systems.
Ensuring transparency, accountability, and ethical standards.
Engaging with internal control functions and acting on assurance findings.
Shareholding Structure
CIB Kenya Limited (formerly Mayfair-CIB Bank) is a fully owned subsidiary of Commercial International Bank (CIB) Egypt
TIMELINE
April 2020
CIB Egypt acquired a 51% stake in Mayfair Bank Limited.
TIMELINE
January 2023
it acquired the remaining 49%, establishing CIB Kenya as CIB Egypt’s first fully owned regional subsidiary.
Executive Committees
CIB Kenya’s executive governance is supported by a robust committee structure designed to ensure efficient strategy implementation and risk oversight:
Executive Committee (ExCo)
Oversees daily operations and execution of Board-approved strategies.
Asset Liability Management Committee (ALCO)
Manages liquidity, market, and interest rate risks, including investment risk.
Executive Credit Committee (ECC)
Reviews and approves credit facilities as per the Credit Risk Management Policy.
Management Credit Committee (MCC)
Oversees the overall credit function to support growth and regulatory compliance.
Non-Financial Risk and Compliance Committee (NFRCC)
Monitors operational, reputational, compliance, cyber, ESG, and other non-financial risks.
Information Technology Steering Committee (ITSC)
Aligns IT strategies with business objectives and oversees IT governance.
Data Protection Committee (DPC)
Ensures data protection compliance and risk mitigation.
IFRS9 Model Risk Committee
Ensures compliance with IFRS 9 and mitigates model-related financial and regulatory risks.
Environmental, Social and Governance Committee (ESGC)
Drives ESG strategy and integration into the Bank’s operations.
Tender Award Committee (TAC)
Oversees procurement and ensures compliance with procurement policy and governance.
