Board Committee

Committees of Board of Directors:

"Effective committees assisting the board of directors and protecting the rights of the holder of interests"

The board of directors formed the committees generated from it, and it has been considered the instructions, and rules of governance issued from the stock exchange authority upon forming the committees of board of directors. The committees of board of directors shall include the executive committee, risks committee, auditing committee, nomination and rewards committee and the following are such committees.

Internal Audit Committee:

Committee Members:

  • Mr. Bader Mohammed Al-Qattan - Head of Committee / Independent
  • Mr. Abdullah Hamad Al-Tarkeet - Committee Member / Non-executive
  • Mr. Wael Yousef Al-Saqabi - Committee Member / Non-executive

The committee shall undertake many duties including:

  • To review the periodic financial statements before presenting them to the board of directors, and showing the view, and recommendation for them to the board of directors, in purpose of guaranteeing the justice, and transparency of the financial statements and reports.
  • To study the accounting subjects, and understanding their effects on the financial statements.
  • Evaluating the extent of efficiency and effectiveness of the internal controlling systems applied inside the company, and preparing a report including the view and recommendations of the committee in this regard.
  • To review the results of the internal auditing reports, and controlling authorities.
  • To follow up the works of the internal auditor.

Risk Management Committee

Committee Members:

  • Mr. Abdullah Hamad Al-Tarkeet - Head of Committee / Non-executive
  • Mr. Bader Mohammed Al-Qattan - Committee Member / Independent
  • Mr. Wael Yousef Al-Saqabi - Committee Member / Independent

The committee shall undertake many duties including:

  • To prepare and review the strategies, and policies of the risks management, and trend of risks, before approving them by the board of directors, and make sure to execute these strategies, and policies, and that they shall be conforming with the nature and size of the company's activities.
  • To guarantee the availability of materials, and systems enough for management of risks.
  • To make sure that the employees of risks management have the full understanding to the risks surrounding the company, and to increase the awareness of laborers with the culture of risks and their understanding to the same.

Nominations and Rewards Committee:

Committee Members:

  • Mr. Wael Yousef Al-Saqabi - Head of Committee / Non-executive
  • Mr. Abdullah Hamad Al-Tarkeet -Committee Member / Non-executive
  • Mr. Bader Mohammed Al-Qattan - Committee Member / Independent

The committee shall undertake many duties including:

  • To recommend the nominations, and re-nomination of the members of board of directors, and the executive management.
  • To put a clear policy to the rewards of members of board of directors, and the executive management.
  • To determine the required needs of the suitable skills for membership of board of directors , and to review such needs annually.