The Board of Directors has established the following specialized committees in providing support and recommendations to assist the Board in performing its duties, which have been formed and approved.
Audit and Risk Management Committee.
The Audit Committee and Risk Committee has been merged into one committee since 2014 aims to ensure the safety, integrity of the financial reports of the company, verify the adequacy and effectiveness of internal control system in the company and instill a culture of commitment within the company and develop Strategies, policies and Regulations of Risk Management and consistent with the company's tendency to take risks. Audit and Risk Management Committee consists of four members from the non-Executive Board members, The Committee is chaired by an independent member. The Chairman or Executive members of Board should not be a member of the Committee. As shown below:
- 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.
The objective of this committee is to prepare recommendations for nominations for the positions of directors and executive management and to make recommendations for policies and regulations for the award of compensation and rewards. 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.
The Committee seeks to verify the Company’s compliance with the requirements of the Corporate Governance Regulations, the effectiveness of applicable corporate governance laws, the protection of shareholders’ rights and the disclosure of information to meet the needs of stakeholders and to report annually to the Board of Directors on the applicable corporate governance system. The committee consists of five executive and non-executive directors 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