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Good Corporate Governance (GCG)

BCA Syariah always maintains its financial performance so that it is always healthy, prudent and solid.

BCAS is committed to consistently implementing Good Corporate Governance (GCG) in its business operations. BCAS believes that the application of GCG aligns with the efforts to achieve long-term business goals and provides a competitive advantage in facing competition, ultimately creating added value for shareholders, the national banking industry, the national economy, and other stakeholders.

Objectives of GCG Implementation

  1. Encourage the management of BCAS in accordance with the 5 (five) basic principles of GCG: Transparency, Accountability, Responsibility, Professionalism, and Fairness.
  2. Comprehensively and structurally implement the five basic principles of GCG across the three aspects of Governance:
    • Governance Structure, with the aim of strengthening and complementing the Bank's governance structure and infrastructure.
    • Governance Process to ensure that the implementation of GCG produces outputs while considering the principles of significance or materiality.
    • Governance Outcome, which includes achieving good and quality performance results as expected by BCAS stakeholders.
  3. Realize the effective, efficient, and independent functioning of the company's organs, namely the General Meeting of Shareholders, Board of Commissioners, Board of Directors, and Sharia Supervisory Board.
  4. Promote the professional management of BCAS in accordance with applicable laws and based on high ethical standards (Code of Conduct).
  5. Optimize the company's value for shareholders while considering other stakeholders.
  6. Promote awareness and implementation of corporate social responsibility (CSR) driven by corporate values resulting from the comprehensive and sustainable application of GCG.
  7. In the implementation of Integrated Governance in the parent company, PT Bank Central Asia, Tbk as the Ultimate Entity, the arrangement of responsibilities and duties of the Board of Commissioners and the Sharia Supervisory Board of BCAS is needed to be part of the Integrated Governance Committee in the Ultimate Entity.

Legal Basis

  1. Law Number 40 of 2008 concerning Limited Liability Companies

  2. Law Number 21 of 2008 concerning Sharia Banking

  3. Financial Services Authority Regulation Number 17 of 2023 concerning Implementation of Governance for Commercial Banks

  4. Republic of Indonesia Financial Services Authority Regulation Number 2 of 2024 concerning the Implementation of Sharia Governance for Sharia Commercial Banks and Sharia Business Units

  5. Assessment of GCG implementation in accordance with Financial Services Authority Regulation Number 8/POJK.03/2014 and Financial Services Authority Circular Letter Number 10/SEOJK.03/2014 concerning Assessment of the Soundness Level of Sharia Commercial Banks and Sharia Business Units

  6. Financial Services Authority Circular Letter Number 39.SEOJK.03/2016 concerning Fit and Proper Test for Prospective Controlling Shareholders, Prospective Members of the Board of Directors and Prospective Members of the Board of Commissioners of Banks

  7. Financial Services Authority Regulation Number 34/POJK.03/2018 concerning Reassessment for Main Parties of Financial Services Institutions

Basic Principles

In order to achieve business continuity, the Bank consistently applies GCG principles in every aspect of its business:

  1. Transparency, which involves openness in disclosing material and relevant information and transparency in the decision-making process.
  2. Accountability, which ensures clarity in the functions and implementation of accountability of the Bank's organs, allowing effective management and transparent and reasonable accountability.
  3. Responsibility, which involves the Bank's compliance with applicable laws and principles of sound banking practices.
  4. Independency, which represents the competence to manage the Bank objectively, without influence or pressure from any party, and a high commitment to developing the company.
  5. Fairness, which emphasizes justice and equal treatment of the rights of stakeholders based on agreements and applicable laws and regulations.