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العربية
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العربية

Board Committees

Audit Committee

Head of Committee :

Bader Alrabiah

Committee Members :

Anwer Alhunaidi

Tasks :

  • Review financial statements before submission to the Board of Directors and provide suggestions and recommendations.
  • Recommend to the Board of Directors the appointment or re- appointment of external auditors or their replacement in addition to determining their fees.
  • Follow-up the work of the external auditors to assure that auditing is the only service they are providing for the company
  • Study the applied accounting policies and provide the Board of Directors with suggestions and recommendations thereon.
  • Assess the efficiency of the internal control systems applied within the company and prepare a report containing the Committee's opinions and recommendations.
  • Review audit plans proposed by the internal auditor and provide comments.

No. of Meetings :

4

Risk Committee :

Head of Committee :

.

Committee Members :

Bader Alrabiah

Anwer Alhunaidi

Tasks :

  • Prepare and review strategies and risk management policies prior to obtaining the Board of Directors' approval, follow up on their implementation and make sure that they are suitable for the size and nature of company activity.
  • Ensure the availability of adequate resources and systems to manage the risks.
  • Assist the Board of Directors to identify and assess the acceptable levels of risk at the company, and make sure not to exceed these levels after being approved by the Board of Directors.
  • Review the Risk Management Dept. organizational structure and provide recommendations thereon prior to obtaining Board of Directors' approval.
  • Ensure the independence of the risk management Dept. staff from activities that might expose the Company to risk.
  • Prepare periodic reports on the nature of risks faced by the company and obtain the Board of Directors' approval thereon.
  • Review the issues raised by the Audit Committee that are related or might affect the Risk Management Dept. in the company.

No. of Meetings :

4

Nominations & Remuneration Committee:

Head of Committee :

Abdullah Bou-Qammaz

Committee Members :

Hamad AlSaad

Anwer Alhunaidi

Tasks :

  • To recommend the nomination and re-nomination of the Board of Directors, Executive Management and Board Committees, taking into account the rules of integrity and efficiency contained within CMA instructions, the number of attendance and effective participation.
  • Develop a clear policy to reward Board members and senior executives.
  • Identify the different segments of rewards
  • Annual review of the remuneration policy and assessment of its effectiveness in attracting manpower and achieving goals.
  • Prepare annual report detailing all the bonuses granted to Board members and Executive Management

No. of Meetings :

1