The Committee comprises of three non-executive directors. Its terms of reference include:

• To review and determine on a regular basis remuneration policies and conditions of service for employees of the Group.
• To monitor adherence to approved People and Culture policies of the Group.
• To determine the remuneration levels and conditions of service of all employees falling under the executive grade of the Group.
• To receive for consideration and approval if deemed appropriate, proposals of reviews of salaries and conditions of services for employees of the Group.
• To receive information from management on a regular basis on the prevailing salaries and conditions of service of employees in the financial services sector generally, for purposes of comparison with the Group’s own salaries and conditions of service.