Corporate Governance in Banks: Regulatory Expectations and the Future Agenda
On 24 September, the Armenian Institute of Directors brought together representatives of the Central Bank of Armenia, Armenian bank board members and AIOD members for a professional discussion on the evolving role and effectiveness of bank boards.
The meeting was designed as an open dialogue between the regulator and the board community, focusing on three main areas:
- developments in the regulatory and supervisory framework related to board composition, independence and collective competencies;
- evolving supervisory expectations regarding board effectiveness;
- practical challenges faced by boards and possible regulatory, supervisory and professional mechanisms that could support more effective governance.
The discussion went beyond formal requirements and addressed questions such as the meaning of independence in practice, the role of board self-assessment, effective challenge of management, shareholder engagement in strategy, and the distinction between formal compliance and genuine board effectiveness.
What made the discussion especially valuable was the openness with which participants shared practical insights, experiences and different perspectives from their own boardrooms.
For the Armenian Institute of Directors, creating such platforms for dialogue is an important part of its mission to strengthen the professional community of directors and contribute to the continued development of corporate governance practices in Armenia.
We thank our colleagues Vahan Avetisyan (Director of the Financial Supervision and Licensing Directorate) and Karen Babayan (Director of the Financial Stability and Regulation Directorate) from the Central Bank of Armenia for their openness to the initiative and all participants for an active and candid discussion.
We hope this meeting will become part of a continuing dialogue between the regulator and the board community.
