A. The Guidelines set the principles for corporate Governance and ensure adoption of sound corporate governance practices for banks and financial institutions.

B. The Guidelines specify responsibility in setting the targets and objectives means of achieving them, as appropriate for scope and size of their business activities.

C. In some instances, certain requirements in the guidelines may not be applicator for all banks and all financial institutions. In such circumstances, the bank or financial institution will be subject to the “comply or explain” principle.