Board Audit Committee

The functions of the Board Audit Committee include, but are not limited to:

  • Review and discuss quarterly and annual financial statements with the executive management and external auditor of the company and ensuring their integrity and transparency, and to analyze the company's financials before submission to the Board of Directors.
  • Monitor External Auditors’ operations and to ensure that they are not providing any other service to the company except those required by the audit.
  • Set the company’s annual audit plan as well as the appointment or dismissal of the head of the Internal Audit department and its evaluation at least annually.
  • Review the Company's policies and practices regarding internal controls and risk management and to ensure their adequacy and effectiveness.
Committee Composition:
  • Abdul Aziz Khalid Al Abdul Razzaq - Chairman of the Committee
  • Abdul Latif Faisal Al-Khaled - Member of the Committee
  • Fawaz Abdulaziz Al Roudan- Independent Member 


Board Risk Committee

The functions of the Risk Committee are, but not limited to:
  • Oversee the company’s strategies, policies & procedures developed by the management
  • Identify, assess, measure and manage key risks which include an overview of the company's strategic risks, credit and operating risk, compliance risk, interest rates, liquidity risk, investment and finance risk, market risk, reputational risk, emerging risks, etc., as well as capital management, planning and evaluation processes.
  • Receive reports from the management regarding compliance with its risk appetite.
  • Prepares and reviews risk management strategies and policies prior to their approval by the Board of Directors and ensures that they are adequate the nature and size of the company's activities.
  • Evaluate the systems and mechanisms to identify and monitor the various risks that the company may face in order to identify weaknesses in this regard.

Committee Composition :

  • Fawaz Abdulaziz Al Roudan- Chairman of the Committee (Independent Member)
  • Abdul Aziz Khalid Al Abdul Razzaq – Member of the Committee
  • Abdul Latif Faisal Al-Khaled - Member of the Committee


Board Nomination and Remuneration Committee

The functions of the Nomination and Remuneration Committee are, but not limited to:
  • Preparing an annual report that contains overall remunerations in detail that are granted to the Board members and the Executive Management, whether it is payments or benefits or advantages, whatever its nature or name.
  • Ensure independence of the independent member.
  • Determining the various remunerations that will be granted to Executive Management, such as fixed remunerations, performance remunerations and remunerations in the form of shares and end of service remunerations.
  • Establishing a clear policy for the remuneration of the Board members and the Executive Management accompanied with an annual review of the requirements for the appropriate skills, in order to attract applicants seeking to fill executive positions as needed.
  • Recommend nominations and reappointment to the Board of Directors and Executive Management
Committee Composition :
  • Fawaz Abdulaziz Al Roudan- Chairman of the Committee (Independent Member)
  • Bader Ghanim Al-Ghanim- Member of the Committee
  • Abdul Aziz Khalid Al Abdul Razzaq – Member of the Committee