The Board of Directors has established the following specialized committees to offer recommendations and assist the members in performing their duties. The responsibilities and authority of each committee have been defined and agreed upon.
Audit and Risk Management Committee.
In 2014, the Audit and Risk Management Committees were merged into a single committee charged with ensuring the accuracy and integrity of the company's financial reports, verifying the effectiveness of internal control systems, and promoting a culture of discipline and commitment commensurate with the company's risk-taking strategy. The Committee is composed of four members of the Board of Directors as follows:
- Mr. Bader Meshari Al Homaizi (Independent non-executive): Chairman
- Mr. Ahmad Khalid Ahmad Al Homaizi (Non-executive): Member
- Mr. Emad Ahmad Al-Houti (Non-executive): Member
- Mr. Ma’rouf Abdulrahman Al Ma’rouf (Non-executive): Member
Nomination and Remuneration Committee.
This committee recommends nominees for the Board of Directors and other executive management positions; it also makes recommendations for policies and regulations governing compensation and bonuses. The committee consists of five executive and non-executive members of the Board, as described below:
- Mr. Ahmad Khalid Ahmad Al Homaizi (Non-executive): Chairman
- Mr. Raad Khalaf Al Abdullah (Executive): Member
- Mr. Bader Meshari Al Homaizi (Independent non-executive: Member
- Mr. Sulaiman Abdulrahman Al Ma’rouf (CEO): Member
- Mr. Mousa Ahmad Al Ma’rouf (Executive): Member
Corporate Governance Committee.
This committee monitors the compliance with, and effectiveness of, relevant corporate governance regulations; the protection of shareholders’ rights; and the disclosure of information to meet the needs of stakeholders. It reports annually to the Board of Directors regarding the applicable corporate governance systems. The committee consists of five executive and non-executive members of the Board, as shown below:
- Mr. Abdulrahman Mousa Al Ma’rouf - Chairman of BOD - non-Executive: Chairman
- Mr. Raad Khalaf Al Abdullah - Executive: Member
- Mr. Bader meshari Al Homaizi - Independent non-executive: Member
- Mr. Sulaiman Abdulrahman Al Ma’rouf - CEO: Member
- Mr. Abdulrahman Ahmad Al Ma’rouf - Executive: Member