Supervisory Board

The Supervisory Board plays a major role in corporate governance system of the Development Bank by conducting  the general management  of the entity’s  operation except issues  which are within the competence of the General Shareholders’ Meeting by virtue of legislation  and the Articles of Association of the Development Bank.

The head of the Supervisory Board of the Development Bank is the Prime Minister of the Republic of Belarus by virtue of his position. This peculiarity is  stipulated by the Decree of the President of the Republic of Belarus dd January 24, 2013 No45 and applies only for the Development Bank.

The Supervisory Board includes the representatives of the state and independent directors. The presence of independent directors participating in governing  of the Development Bank  allows the Supervisory Board to  form the objective opinion in respect of the issues under discussion and contributes to  strengthening of counter-parties’, partners’ and clients’  confidence.  The independent directors  have  knowledge and  practical experience in various  areas of economy, which allows the Development Bank to efficiently promote its activities within the frames of its strategic tasks.

Qualitative composition of the Supervisory Board is formed subject to  comprehensive knowledge and experience  of its members which  allows to  conduct the efficient governance, including also  taking respective  decisions  which is important when the candidates are selected to the Supervisory Board of the Development Bank. The structure  of the Supervisory Board has an optimal balance of the representatives of shareholders and independent directors, which corresponds to the best international practice.

For further  deep consideration  of issues and in order to form  objective  and independent  decisions the Supervisory Board of the Development Bank has created 4 committees.

The activities of the Supervisory Board and the procedures  regulating its work are governed by the Articles of Association of the Development Bank and local regulatory legal acts  of the Development Bank.