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People's Leasing & Finance PLC — The Trusted Leader
A comprehensive corporate governance framework, including well-defined governance structures, provides the foundation for People's Leasing to meet its statutory and regulatory requirements and to promote accountability across the organisation.
In accordance with Section 9 of the Listing Rules of the Colombo Stock Exchange on Corporate Governance, the Company is committed to transparency regarding its policies and discloses the existence of the policies below.
Sets out the composition, role, authority and responsibilities of the Board of Directors, forming part of the Company's Corporate Governance Charter.
Outlines the establishment, operation and constitution or reconstitution of Board Sub-Committees, in compliance with the Listing Rules of the Colombo Stock Exchange and the directions of the Central Bank of Sri Lanka.
Board Sub-Committees assist the Board in carrying out its responsibilities by providing specialised recommendations. The Board does not delegate matters to a Sub-Committee to an extent that would hinder its ability to discharge its functions as a whole.
Each Committee operates under Board-approved Terms of Reference that clearly define its scope, authority, duties and quorum requirements.
Governs the selection, appointment, re-election and continuation in office of members of the Board of Directors.
The Board HR & Remuneration Committee recommends the remuneration payable to Executive, Non-Executive and Independent Directors, including the Managing Director. Remuneration for Non-Executive Directors follows non-discriminatory pay practices to safeguard their independence.
The Committee may engage external reference or expertise to assess the relevance of remuneration levels applicable to Directors and the Managing Director.
Covers the Internal Code of Business Conduct and Ethics for all Directors and employees, including policies on trading in the Company's listed securities.
A robust ESG policy integrates environmental, social and governance considerations into business operations and strategy, in response to stakeholder expectations and local and global sustainability requirements — including the UN Sustainable Development Goals by 2030.
By embedding sustainable practices into its financing strategies and key operations, the policy aims to create long-term value for customers, stakeholders and the community, balancing financial objectives with environmental and social responsibility.
Allows stakeholders to anonymously report potential instances of improper or illegal conduct, or unethical practices within the Company. Anyone aware of such conduct is encouraged to report it to the Board Audit Committee promptly.
Complaints are directed to the Chairman of the Board Audit Committee by email or letter, with or without disclosing the whistleblower's identity.
Once received, the Audit Committee initiates a thorough and timely investigation — referring the matter to the Chief Internal Auditor or an appropriate officer where relevant, with scope and timeframes outlined in writing. All reported events, or the absence thereof, are reported to the Board Audit Committee quarterly.
