Corporate governance refers to the system of rules, practices, processes, and relationships through which organisations are directed and controlled. In the banking and financial sector, effective corporate governance is particularly important because financial institutions manage public funds, handle large-scale investments, and influence economic stability. International committees on corporate governance have played a significant role in developing principles that promote transparency, accountability, ethical conduct, and responsible management. Among these, the King Committee of South Africa (1994) and the Greenbury Committee (1995) provided important recommendations that influenced corporate governance practices globally. The King Committee of South Africa was established in 1994 under the leadership of Mervyn King by the Institute of Directors in South Africa. The committee was formed to improve corporate governance standards in South African companies after the country’s transition to democracy. The report, known as the King Report on Corporate Governance, introduced a broader approach to governance by emphasising not only financial performance but also ethical leadership, social responsibility, and stakeholder interests. The major recommendations of the King Committee (1994) were as follows: The committee recommended that companies should adopt a balanced approach to corporate governance by considering the interests of all stakeholders, including shareholders, employees, customers, suppliers, communities, and the environment. It rejected the narrow view that companies should focus only on shareholder wealth maximisation and promoted a stakeholder-oriented approach. The King Committee emphasised the importance of an effective and independent board of directors. It recommended that the board should provide strategic direction, monitor management performance, and ensure accountability. The board should consist of a balance between executive and non-executive directors to maintain objectivity in decision-making. The committee recommended the separation of the roles of chairman and chief executive officer. According to the report, one person should not hold both positions because concentration of power could weaken board independence and reduce effective oversight. The King Committee stressed the need for independent directors on the board. Non-executive directors should have sufficient skills, experience, and independence to provide unbiased judgement and protect stakeholder interests. The report recommended the establishment of board committees, particularly audit committees, to strengthen internal control and financial reporting systems. The audit committee should consist mainly of independent non-executive directors and should oversee financial statements, internal audits, risk management, and relationships with external auditors. Risk management was identified as a key element of good governance. The committee