• Corporate Governance
  • Board Committees

Board Committees

Committees of the Board of Directors

The Board of Directors has established specialized committees to assist in performing the main functions and responsibilities entrusted to it. The Board approves the Charters governing the work of those committees as they specify the terms, authorities, functions, rights and responsibilities of the committees and the method they are supervised by the Board. The committees are formed pursuant to a resolution issued by the Board which appoints the members and specifies the committee chairman and the time the committee should start performing its functions.

Risk Management Committee

The basic function of the committee is to support the Board in exercising effective supervision of the performance of the Executive Management with regard to risk management, including, without limitation, strategic risks, market risks, compliance risks and operating risks. The Risk Management Committee develop and review the policies and procedures related to all matters pertaining to risk management in line with the Company’s risk appetite.

Risk Management Committee Members:

Ahmad Mohammad Boodai Chairman
Abdulrahman Mohammad Al-khannah Member
Tareq Ibrahim Al-Mansour Member

Audit Committee

The Committee is responsible for assisting the Board in performing its obligations with regards to supervising the quality and soundness of accounting practices, Internal Audit, Sharia'a Audit, the overall governance and financial reporting frameworks, and the relation with the external auditors

Audit Committee Members:

Abdulrahman Mohammad Al-khannah Chairman
Ahmad Mohammad Boodai Member
Tareq Ibrahim Al-Mansour Member

Nominations and Remunerations Committee

The Nominations and Remunerations Committee is responsible for submitting recommendations concerning the nomination and re-nomination of members of the Board and the Executive management. The Committee is also responsible for documenting a clear policy that governs the mechanism of assessing the remuneration of the members of the Board and of the Executive Management in light of the long term strategic objectives of the Company. In addition, the Committee approves the succession plan of the Company Management in emergency events or in the event where a position becomes vacant in an unexpected manner. Furthermore, the Committee supervises the training plan for the members of the Board and developing their skills related to the Company’s business.

Nominations and Remuneration Committee Members:

Khalid Sultan ben Essa Chairman
Ahmad Mohammad Boodai Member
Nawaf Hussain Marafi Member
Abdulrahman Mohammad Al-khannah Member

Executive Committee

The Executive Committee consists of members of the Board and has no standing duties / responsibilities. However, the Board is the body concerned with authorizing the Committee to perform a specific assignment whenever needed. The Committee meets to execute / take decisions related to the assignment entrusted to it by the Board and ensures that the results and the main decisions taken are reported to the Board to keep the Board informed at all times of the results of the assignments entrusted to the Committee.

Executive Committee Members: 

Nawaf Hussain Marafi Chairman
Ahmad Mohammad Boodai Member
Tareq Ibrahim Al-Mansour Member