Corporate Governance

Corporate Governance is a set of procedures and processes according to which an organization is directed and controlled. The corporate governance structure specifies the distribution of rights and responsibilities among the different participants in the organization – such as the board, managers, shareholders and other stakeholders – and lays down the rules and procedures for decision-making.

Our objective is to create a safe environment for stakeholders through adherence to laws & regulations. Corporate governance principles require all board members, executive management and employees to show integrity and honesty in all their dealings with the company and with third parties.

BOARD COMMITTEES

The Board of Directors shall oversee, direct, and monitor the management of the business to protect the interest of stakeholders in terms of corporate governance, compliance with laws and regulations, and maintenance of internal, financial, accounting and reporting controls.

It consists of a wide range of skills and experience that ensures the following :

Audit Commitee

The purpose of the Audit Committee is to assist the Board of Directors in the oversight of:

  1. The integrity of the financial statements of the Company,
  2. The adequacy and the effectiveness of the internal control systems implemented,
  3. The performance of the Company’s internal audit function,
  4. The Company’s compliance with legal and regulatory requirements.

Committees’ Members

  • Mr. Fahad Al-Shamlan ( Head of the Committee )
  • Bader Jassim Al-Hajiri ( Member )
  • Saleh Mohammad Al-Tunaib ( Member )

Risk Management Commitee

This committee is formed to assist the Board of Directors in fulfilling its oversight responsibilities with regard to the risk appetite of company, the risk management & compliance framework and the governance structure that supports it.

Committees’ Members

  • Bader Jassim Al-Hajiri ( Head of the Committee )
  • Mr. Fahad Al-Shamlan ( Member )
  • Rami Habli ( Member )

Nomination & Remuneration Commitee

The purpose of the Nomination & Remuneration Committee of the company is to identify, screen and recommend to the board of directors of the Company appropriate candidates to serve as directors and Executive management of the Company, to oversee the process for evaluating the performance of the Board and to develop, recommend to the Board and monitor nomination guidelines for the Company. In addition to that, preparing the compensations & remunerations policies & regulations.

Committees’ Members

  • Talal Bader Al-Bahar ( Head of the Committee )
  • Bader Jassim Al-Hajiri ( Member )
  • Saleh Mohammad Al-Tunaib ( Member )