Following internationally accepted principles of corporate governance, ArmSwissBank's governance system has a range of regulatory checks and balances. With a focus on collective decision-making, we have established specialized committees and project teams covering areas such as audit, credit, investment, assets and liabilities and budgeting. We adhere to the following key principles of good governance, which are also reflected in our charter and various board-approved documents:

• A clear division of roles and responsibilities.
• Constructive co-operation between the shareholder, the board, executive management and internal and external auditors.
• A strong internal control system, ensuring continuous risk monitoring.
• Collective decision-making in the most risk-bearing areas.
• Continual application of the "four eyes" principle, so that transactions and risk-bearing operations must be approved by at least two people.
• Robust reporting, monitoring and information systems.
• High corporate ethical values.
• A clearly defined strategic plan.

These principles have been reflected in the charter and number of documents approved by the Board.