NIB Bank

Being aware of our responsibilities under the Code of Corporate Governance issued by the Securities and Exchange Commission of Pakistan, the following statements are made with regard to the corporate and financial reporting framework to meet with the requirements of Code:

• The financial statements prepared by the management of the Bank present fairly its state of affairs, the result of its operations, cash flows and changes in equity.
• Proper books of accounts have been maintained.
• Accounting policies have been consistently applied in the preparation of financial statements and accounting estimates are based on reasonable and prudent assessments.
• International Accounting Standards, as applicable in Pakistan, have been followed in the preparation of financial statements.
• There are no doubts upon the Bank’s ability to continue as a going concern.
• There has been no material departure from the best practices of corporate governance as detailed in the listing regulations of the stock exchanges of Pakistan.
• There are no statutory payments on account of taxes, duties, levies and charges which are outstanding, except as disclosed in the financial statements.