Menu

Indexed search

 

The Board of Directors has six committees composed of members of the Board and others with the necessary expertise and specialist knowledge relevant to the function of each committee. Each of these committees shall have approved rules defining their powers and working procedures.

Executive committee

The Executive Committee is responsible for studying the Company's business plan and projects, managing its strategies and following up on its implementation. In addition it makes recommendations to the Board on adopting the policies of the Company and on entering into investment projects or acquisition of companies related to its work or the development of its current activities in line with its strategic plan. The Committee's responsibilities also include the Board's recommendation for the annual budget.
The Committee consists of five members-

Name of member Position First meeting
28.01.2018
Second meeting
19.02.2018
Third meeting
11.12.2018
Ms. Sarah Al-Suhaimi Committee President
Mr. Tariq Al-Sudairy Member
Mr. Rayan Fayez Member Excused
Mr. Hashem Alhekail Member Not a member Not a member
Mr. Abdullah Bin Nasser Al Dawood Member Not a member Not a member
Mr. Abdulaziz Bin Saleh Al Furaih Member Term expired
Dr. Khaled Bin Hussein Al Bayari Member Term expired

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:

Name of member Position First meeting
07.01.2018
Second meeting
27.03.2018
Third meeting
22.05.2018
Fourth meeting
16.07.2018
Fifth meeting
17.10.2018
Sixth meeting
19.11.2018
His Excellency
Mr. Suhail Abanmi
Committee President Excused
Dr. Abdulrahman Bin Ibrahim AlHumaid Independent member
Mr. Abdullah Bin Abdulrahman AlShwer Independent member Excused
Mr. Abdul Rahman Mohammed AlOdan Independent member
Mr. Hashem Alhekail Member Not a member Not a member Not a member Not a member
Mr. Abdulaziz Bin Saleh Al Furaih Former Chairman
of the Committee
Term expired Term expired

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:

Name of member Position First meeting
01.04.2018
Second meeting
19.04.2018
Third meeting
02.08.2018
Fourth meeting
09.12.2018
Mr. Abdulaziz Bin Hassan Chairman of the Committee Not a member Not a member Not a member
Mr. Abdullah Bin Nasser Al Dawood Member Not a member Not a member Not a member
Dr. Yahya Bin Ali AlJabr Independent member
Dr. Ibrahim Bin Abdul Rahman AlKadi Independent member
Mr. Jaser Bin Abdulkareem AlJaser Independent member
Mr. Ali Al-Gwaiz Former Chairman of the Committee Term expired
Mr. Rayan Fayez Member Term expired

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:

Name of member Position First meeting
26.02.2018
Second meeting
29.04.2018
Third meeting
08.08.2018
Fourth meeting
26.11.2018
Mr. Tariq Al-Sudairy Committee
President
Mr. Abdulrahman Al- Mofadhi Member Excused
Mr. Ali Al-Gwaiz Member Not a member Not a member Not a member
Mr. Abdulaziz Bin Hassan Member Term expired

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:

Name of member Position First meeting
19.02.2018
Second meeting
05.08.2018
Third meeting
11.12.2018
Ms. Sarah Al- Suhaimi Committee
Chairman
Mr. Ali Al-Gwaiz Member
Mr. Rayan Fayez Member Not a member Not a member Excused
Mr. Bandar Bin Abdul Rahman Bin Muqrin Member
Dr. Khaled Bin Hussein Al Biyari Member Term Expired

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:

Name of member Position First meeting 10.01.2018 Second meeting 07.03.2018 Third meeting 19.03.2018 Fourth meeting 18.04.2018 Fifth meeting 23.04.2018 Sixth meeting 30.04.2018 Seventh meeting 07.05.2018 Eighth meeting 14.05.2018 Ninth meeting 04.06.2018 Tenth meeting 12.08.2018 Eleventh meeting 20.09.2018 Twelfth meeting 09.10.2018 Thirteenth meeting 19.11.2018 Fourteenth meeting 31.12.2018
Dr. Abdullah Bin
Hassan Al Abdulqader
Chairman of the Committee – Independent Member
Mr. Abdulaziz Bin Hassan Member Excused Excused Excused
Dr. Najim Bin Abdullah AlZaid Member
Eng. Khalid Bin Abdullah Al Hassan Executive member Excused
Dr. Abdulrahman Bin Abdul Mohsen
Al Khalaf
Independent Member
Close