Basic Aplication of Good Corporate Governance BRI’s implementation of governance is based on compliance with applicable regulations, stakeholder aspirations and the Company’s needs. Apart from that, BRI also implements corporate governance referring to best practices applicable in the financial industry. Several regulations that form the basis of guidelines for implementing good corporate governance at BRI include: 1. Republic of Indonesia Law No. 7 of 1992 dated March 25, 1992 on Banking as amended by Republic of Indonesia Law No. 10 of 1998. 2. Law Number 8 of 1995 dated November 10, 1995 concerning Capital Markets. 3. Republic of Indonesia Law No. 28 of 1999, dated May 19, 1999, concerning the Implementation of a Clean and Free State from Corruption, Collusion, and Nepotism. 4. Republic of Indonesia Law No. 19 of 2003 dated June 19, 2023 on State-Owned Enterprises. 5. Republic of Indonesia Law No. 40 of 2007 dated August 16, 2007 on Limited Liabilities Companies. 6. Law Number 27 of 2022 dated October 17, 2022 concerning Personal Data Protection. 7. Government Regulation No. 21 of 1992 dated April 29, 1992 on Legal Entity Adjustment of Bank Rakyat lndonesia to become a Company (Persero). 8. Bank Indonesia Regulation Number 23/6/PBI/2021 dated July 1, 2021 concerning Payment Service Providers. 9. OJK Regulation (POJK) No.18/ POJK.03/2014 dated November 18, 2014 on Integrated Governance Practices for Financial Conglomerates. Stages of GCG Implementation In order to ensure the achievement of Excellent GCG at BRI, the implementation of BRI’s GCG is carried out through 3 (three) stages, namely formulation, implementation and monitoring and evaluation which are carried out continuously and sustainably. 1. Help the Company achieve its vision and mission, strive for significant performance. 2. Provide guidelines to all employees on carrying out duties and responsibilities following their job description. 3. Enhance the shareholders’ and stakeholders’ confidence that the Bank management and oversight are professionally implemented. 4. Support the establishment of policies and decisions made by management based on the principles of good corporate governance. 5. Realizing the creation of good corporate citizen. Framework GCG GCG Excellence Improvement 1. Formulation • GCG Commitment • GCG structure • GCG Infrastructure • Systems, Policies • and GCG Procedures 3. Monitoring • GCG Assessment • GCG monitoring • Performance evaluation • RBB evaluation 2. Implementation • GCG Awareness • Company Culture • Code of Ethics • Supporting Organs • GCG Tools PT Bank Rakyat Indonesia (Persero) Tbk. Annual Report 2023 444
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