Committees of the Board of Directors

Audit Committee

The Audit Committee supervises the business of the Company and verifies the integrity and accuracy of Financial Statements, reports and internal control systems. It also approves the annual Internal Audit Plan and reviews financial and accounting policies. The Committee appoints a Director-General for internal audit and recommends to the General Assembly the appointment of the External Auditor, follows-up on its work, and examines the Financial Statements and reports submitted by the Auditor. The tasks of the Committee include reviewing the directives of the regulatory bodies and ensuring that the Company takes the necessary measures.

The Committee consists of five members:

Risk Management Committee

The Committee is responsible for risk management and information security , including recommending to the Board the adoption of policies for risk management in the Company, and giving consideration to the General Risk Management function’s recommendations on business risk analysis, including risks relating to services and products provided by the Company and capital investment. The Committee will also study the risks of information technology systems and ensure the adequacy of the security of such systems to conduct business, manage the mechanisms of dealing with listed securities including deposit, registry, settlement, and publishing related information. In addition the Committee studies the Business Continuity Plan and analyzes its impact on the Company's business.

The Committee consists of five members:

Investment committee

The Committee supervises the Management of the Company's capital investments, reviews the approved investment policy, ensures its adequacy and follows up on any corrective actions. In addition, it considers the investment strategy and studies and evaluates investment proposals submitted by the Department, and takes decisions thereon. The Committee also appoints investment managers, monitors their performance, determines their fees and completion of their duties.

The Committee consists of four members:

Nomination and remuneration committee

The Committee undertakes the tasks related to the human capital of the Company and monitors the human resources strategy and related policies. The Committee should establish and evaluate performance criteria for the Executive Director and ensure that there is a long-term succession plan for the Executive Director and Executive Management and oversee implementation. The Committee also considers the organizational structure of the company and evaluates the competencies and qualifications of Executive Management and development.

The Committee is also responsible for considering the performance of the Board and its members and recommending the appointment of independent members of the committees emanating from the Board.

The Committee consists of four members:

Regulatory policy and oversight committee

The Committee oversees the functions of the Regulatory Oversight and Authorization Division which is the executive arm having direct responsibility for regulatory and supervisory activities. The Committee's tasks are consistent with the Transition and Activation of Responsibilities (TAR) Programme which aims at implementing the regulatory and supervisory powers and functions of trading. These functions are carried out in accordance with the provisions of the Capital Market Law, which includes several aspects such as listing securities, in the market. Based on the TAR Programme outputs, the CMA Capital Market Authority continues to regulate the offering of securities while trading, the listing of securities and details regarding the timing and format of disclosure mechanisms are handled by Tadawul.

Among the tasks of the Committee is to study the draft regulations and rules of the market and amendments to same, and to supervise the communication and coordination between Tadawul and the Capital Market Authority in matters relating to market regulations. Its responsibilities include studying the Management's recommendations regarding listing applications, suspending and cancelling them, approving the listing decisions in the main market, the parallel market (NOMU) and the debt markets, supervising listing applications and requests to move from the parallel market to the main market. It also approves the issued capital and applications for increasing the capital of the listed companies

The Committee consists of five members: