The Company has the following committees in place:
The Audit Committee, the Nomination and Remuneration Committee, the Risk Management Committee, and the Investment Committee. The Regulatory Policy and Oversight Committee was terminated on the 31 May 2021 after the commencement of the Saudi Exchange Company.
A charter for each committee has been adopted, which sets out its role and responsibilities, powers and delegations, and how to conduct meetings for the purposes of exercising the duties of each committee and enabling each committee to properly perform its tasks.
Audit Committee
Pursuant to Article 101 of the Companies Law, and in compliance with the Corporate Governance Regulations, the Audit Committee has been formed by a resolution of the General Assembly dated 24/07/1441H (corresponding to 19/03/2020G). The Extraordinary General Assembly has approved the revised charter of the Audit Committee during its meeting held on 09/01/1443H (corresponding to 17/08/2021G).
In accordance with the Audit Committee’s Charter, the Audit committee shall consist of three to five members from among the shareholders or third parties, and shall not include any executive directors or senior executives. The Chairperson may not be a member of the Audit Committee, and any person who works or has worked in the Company’s Finance Department, the Executive Management or for the Company’s external auditor during the preceding two years may not be a member of the Audit Committee. The Audit Committee shall include at least one independent member and a member with experience in financial and accounting matters. The Audit Committee shall meet according to an approved annual schedule, with at least four (4) meetings per year.
The responsibilities of the Audit Committee are summarized as follows:
- Financial Statements
- Examining the interim, quarterly and annual financial statements submitted by the auditor and providing its recommendation to the Board of Directors and to the Ordinary General Assembly.
- Considering the Company‘s applicable accounting policies and providing opinions and recommendations to the Board of Directors thereon.
- Internal Audit
- Overseeing the Internal Audit Department and ensuring its independence in the performance of its tasks, and verifying that there are no restrictions or negative impact on its work.
- Examining the Company’s internal and financial control system and disclosure and information technology systems, ensuring their adequacy for the conduct of the Company’s business, and submitting a recommendation to the Board in this regard.
- Compliance
- Reviewing the findings of the reports of monitoring authorities, and ensuring that the Company has taken the necessary measures thereabout.
- Ensuring compliance of the Company and its employees with relevant laws and regulations and recommending the appropriate measures in case of non-compliance.
- Ensuring the effectiveness of procedures followed by the Company to guard against claims, legal proceedings, and risks of non-compliance with relevant laws and regulations.
- Reviewing proposed contracts and transactions between the Company and Related Parties and expressing the Committees opinion thereabout to the Board.
- Regularly Examining the report of the chief of the Compliance Division and taking decisions thereabout.
- Reporting to the Board any issues in connection with what it deems necessary to take action on, and providing recommendations as to the steps that should be taken.
RESULTS OF ANNUAL INTERNAL AUDIT PROCEDURES
- Committee Governance
- Review the Committee Charter;
- Ensured Confirmation of Independence;
- Declared Potential Conflicts (where applicable).
-
Compliance Reports
- Reviewed all Code of Conduct Violations Cases presented to AC.
-
Financial Statements
- Reviewed Financial Policies;
- Reviewed Financial Auditors Selection Proposals.
- Endorsed the Consolidated Financial Statements for Saudi Tadawul Group Holding Company.
-
Internal Audit Governance
- Ensured that Internal Audit Governance documents (charters, policies) are updated and relevant.
- Reviewed and Approved Internal Audit Divisional KPIs and Performance Assessment.
-
Internal Audit Operations
- The Internal Audit Division carried out planned audits in accordance with the Internal Audit plan and changes required during the year, as approved by the Saudi Tadawul Group Holding Company Audit Committee to evaluate, objectively and independently, the adequacy and effectiveness Of Internal Control Systems.
- Internal Audit Department reports functionally to Audit Committee and administratively to the Chief Executive Officer of Saudi Tadawul Group Holding Company. In carrying out its duties, Internal Audit ensured its independence and objectivity. The Internal Audit Division operates in accordance with International Internal Auditing Standards (IIA Standards). As part of its mandate, during the year, Audit Committee reviewed/approved following, but not limited to, deliverables/outputs:
- Reviewed and Approved Annual Risk Assessment
- Reviewed and Approved Internal Audit Plan;
- Reviewed Internal Audit Progress Reports; and
- Reviewed Resolution Progress of Observations
- Furthermore, Internal Audit maintains an internal quality assurance and improvement program, covering all aspects of the internal audit activities, to evaluate and continuously improve these activities.
- Internal Audit Division regularly issued audit progress reports to the Audit Committee during the year covering the audit plan progress, audit activities/outcome and overall update/ view on internal controls effectiveness and related subjects. The Internal Audit continued its significant progress made in closing and verifying audit findings along with strengthening the follow-up/closure process.
Audit Committee Opinion
The Audit Committee oversees the Internal Audit work, which periodically reviews the adequacy and effectiveness of the internal control system, to provide a continuous assessment of the internal control system and its effectiveness. The Committee also reviews the External Auditor's reports and management letter, which might include any lack of internal control noted by the External Auditor as part of his internal controls assessment.
Based on the above, the Audit Committee believes that the internal control system within Saudi Tadawul Group Holding Company is appropriately designed and effectively serves organizational objectives, operational efficiency, financial reporting reliability and regulatory compliance without any material deficiency or material weakness.
The Audit Committee also extends its sincere thanks to the Board of Directors for its support to the Committee to fulfill its roles and responsibilities and the Executive Management for providing all the data requested to perform the duties of the Committee.
Audit Committee members
The Audit Committee consists of the following members:
| Name of member | Position |
| Mr. Yazeed Abdulrahman Al-Humaid | Committee Chairman |
| Mr. Hashem Othman Al-Hekail | Member |
| Dr. Abdullah Abdulrahman Al-Shuwayer | Independent Member |
| Mr. Omar Mohammed Al Hoshan | Independent Member |
| Mr. Abdulrahman Mohammed Al-Odan | Independent Member |
Mr. Yazeed Abdulrahman Al-Humaid
Chairman
Kindly Refer to the Board of Directors Biographies.
Mr. Hashem Othman Al-Hekail
Member
Kindly Refer to the Board of Directors Biographies.
Dr. Abdullah Abdulrahman Al-Shuwayer
Independent Member
Dr. Al-Shuwayer is currently the CEO of Ashmore Investment Saudi Arabia, after serving as the Chief Executive and Secretary General of the Higher Education Fund (HEF), the investment arm for 26 public Saudi universities, where he was responsible for managing its multi-asset-class, multi-market investment portfolio. Prior to this, Dr. Al-Shuwayer worked at multiple private and public entities such as the Ministry of Education in Saudi Arabia where he was a senior advisor in areas related to investment and financial affairs. He served as Chairman and member of the Advisory Committee at the Capital Markets Authority (CMA). In addition to these posts, Dr. Al-Shuwayer has served as a board director in companies in such sectors as technology, agriculture, hospitality, and real estate. He has also served as a fund board member for investment funds in the US and Saudi Arabia. He also worked as the Chairman of Finance department and a faculty member at King Saud University, and a lecturer in finance and investment department at University of Wisconsin.
Dr. Al-Shuwayer holds a Ph.D. in Finance from the University of Wisconsin, MBA in Finance from the John Neff College of Business at the University of Toledo, BA in Finance from King Saud University, and is a CFA Charterholder. He has also completed multiple executive education programs at Harvard, INSEAD, IMD, and LBS.
Mr. Omar Mohammed Al Hoshan
Independent Member
Mr. Omar Al Hoshan is a Certified Public Accountant, and is the founder and Managing Partner of AlHoshan Russell Bedford CPA & Consultants in Saudi Arabia.
Mr. Omar has contributed to many of the top 100 companies in Saudi Arabia and GCC countries in the areas of Accounting, Auditing, Financial Planning, Business Performance Measurement, Business Restructuring, Corporate Governance, Regulatory Compliance, Risk Assessment, HR, Financial & Business Solutions and Technology.
Mr. Omar is instrumental in the Business Improvement initiatives in the Kingdom of Saudi Arabia and served on numerous Boards and Committees, including Tadawul, Alawwal Invest, SIRC, AbuNayyan Holding, Cruise Saudi Arabia, MEDGULF, and SAMBA Financial Group.
In addition, Mr. Omar is a regular contributor to The World Bank's Annual Project "Doing Business”.
With strong cross-functional expertise in Finance, Organization Performance, Aviation, and Technology, Mr. Omar has a keen interest in improving performance from all aspects of an organization. As such, Mr. Omar has been invited to speak at various local and international functions.
Mr. Abdulrahman Mohammed Al-Odan
Independent Member
Mr. Abdulrahman Al-Odan is a Board member of Tawuniya Insurance from 2020G. He is also the Owner and Manager of Kemet Corporation, A.N. Alodan Construction Company and Security House Trading. Mr. Abdulrahman is a member of the Constitutional Committee of Small and Medium Enterprises from 2020G, and a Board member of SNB starting from 2020G.
Mr. Al-Odan held several positions in Riyad Bank such as, IT Consultant, Information Technology Vice CEO, Transformation and Performance Improvement Program Executive Director, Solutions and Systems Department Director and the Development Program for Treasury, Investment and Trade Finance Systems Director in 2000G.
Mr. Abdulrahman also worked as the Manager of Systems Reengineering for the United Saudi Bank. He was also the Owner and a General Manager for Madar Communications Company, and Computer Operations Department Director and a System Programmer at Saudi Central Bank (SAMA), as well as working at Saudi Aramco as a System Analyst.
Mr. Al-Odan hold a Master degree in Computer Science from Florida Institute of Technology, USA -1985G- and a Bachelor’s Degree in Computer Science from Jacksonville University, USA.
Audit Committee meeting attendance
| Name of member | Position | 23 March 2021 | 7 June 2021 | 9 August 2021 | 25 October 2021 |
| Mr. Yazeed Abdulrahman Al-Humaid | Committee Chairman |
 (*)
|
(*)
|
(*)
|
(*)
|
|
Mr. Hashem Othman Al-Hekail |
Member |
 (*)
|
(*)
|
(*)
|
(*)
|
| Dr. Abdullah Abdulrahman Al-Shuwayer | Independent Member |
(*)
|
(*)
|
(*)
|
(*)
|
| Mr. Omar Mohammed Al Hoshan | Independent Member |
(*)
|
(*)
|
(*)
|
(*)
|
| Mr. Abdulrahman Mohammed Al-Odan | Independent Member |
(*)
|
(*)
|
(*)
|
(*)
|
(*) - Attended through communication means
Risk Management Committee
The Risk Management Committee was reformed pursuant to the Board of Directors' Resolution dated 03/01/1443H (corresponding to 11/08/2021G). The Board of Directors approved the charter of the Risk Management Committee on 29/12/1442H (corresponding to 08/08/2021G).
Pursuant to the charter of the Risk Management Committee, the Committee consists of three to five members. The responsibilities of the Risk Management Committee include, but are not limited to, the following:
- Supervising the work of the Company’s Risk and Security Department; evaluating the measures, policies and strategies for monitoring and managing risks; evaluating the mechanisms to address such risks as well as the methods for analyzing and recording them; ensuring the adequacy of such methods for the Company’s business; following up on corrective measures; making the necessary recommendations to the Board; reviewing and evaluating the Company’s Information Security Policy. Ensuring the verification of any risk incident as requested by
the Board. - Approve the evaluation criteria of the Risks and Security Department based on the proposal of the CEO of the Company and in accordance with the Company's relevant policies.
Risk Management Committee Members:
The Risk Management Committee consists of the following members:
Members of the Risk Management Committee – until 11 August 2021
| Name of member | Position |
| Mr. Yousef Abdullah Al-Benyan | Committee Chairman |
| Mr. Sabti Sulaiman Al-Sabti | Member |
| Mr. Xavier Rolet | Member |
| Dr. Yahya Ali Al-Jabr | Independent Member |
From 12 August 2021 until present:
| Name | Position |
| Ms. Rania Mahmoud Abdulwahab Nashar | Chairperson – Non-Executive |
| Mr. Xavier Rolet | Member – Non-Executive |
| Dr. Yahya Ali Ahmed Al-Jabr | Independent Member |
Ms. Rania Mahmoud Nashar
Chairperson
Kindly Refer to the Board of Directors Biographies.
Mr. Xavier Rolet
Member
Kindly Refer to the Board of Directors Biographies.
Dr. Yahya Ali Al-Jabr
Member
Dr. Yahya Al-Jaber is a member of Risk Management Committee at Saudi Tadawul Holding Group. He is an Associate Professor of Accounting and served as the Deputy Secretary General, Saudi Organization for Certified Public Accountants (SOCPA).
Dr. Yahya Al-Jaber obtained a Bachelor’s in Accounting from King Saud University and a Master’s degree in Accounting from University of Miami. In addition to a Ph.D. in Accounting from University of Melbourne. He is also Certified a Public Accountant by the Saudi Organization for Certified Public Accountants (SOCPA), Certified Management Accountant (CMA) and Certified in Financial Management (CFM) by the US Institute of Management Accountants.
Risk Management Committee Meeting Attendance
Number of meetings for the period until 11 August 2021: 2 meetings
| Name of member | Position | 16 March 2021 | 21 June 2021 |
| Mr. Yousef Abdullah Al-Benyan | Committee Chairman |
(*)
|
(*)
|
| Mr. Sabti Sulaiman Al-Sabti | Member |
(*)
|
(*)
|
| Mr. Xavier Rolet | Member |
(*)
|
(*)
|
| Dr. Yahya Ali Al-Jabr | Independent Member |
(*)
|
(*)
|
(*) - Attended through communication means
Number of meetings from 12 August 2021: 1 meeting
| Name of member | Position | 23 November 2021 |
| Ms. Rania Mahmoud Nashar | Committee Chairperson |
(*)
|
| Mr. Xavier Rolet | Member |
(*)
|
| Dr. Yahya Ali Al-Jabr | Independent Member |
(*)
|
(*) - Attended through communication means
Nomination and Remuneration Committee
The Nomination and Remuneration Committee was reformed pursuant to the Board of Directors' Resolution dated 03/01/1443H (corresponding to 11/08/2021G). The Board approved the charter of the Nomination and Remuneration Committee on 29/12/1442H (corresponding to 08/08/2021G), which was approved by Extraordinary General Assembly during its meeting held on 09/01/1443H (corresponding to 17/08/2021G).
Pursuant to the charter of the Nomination and Remuneration Committee, the committee consists of three to five members, including at least one independent member. The Chairman of the Board of Directors shall not be the Chairman of the Nomination and Remuneration Committee. The members and Chairman of the committee shall be appointed and dismissed by the Board of Directors.
The responsibilities of the Nomination and Remuneration Committee include, but are not limited to, the following:
- Evaluating the strengths and weaknesses of the Board and its committees, as well as Executive Management and its performance in developing and implementing plans to identify and enhance the competencies of the Directors by recommending the necessary actions.
- Assessing the organizational structure of the Company and make the necessary recommendations to the Board.
- Proposing clear policies and criteria for membership in the Board of Directors, Executive Management and the Company's representatives in the Subsidiaries.
- Making recommendations to the Board of Directors to nominate and re-nominate Directors in accordance with the approved policies and standards.
- Verifying on an annual basis that the Chairperson, Directors and those holding any other important administrative positions have no conflict of interest, verifying whether a Director is a member of the Board of Directors of another company and verifying the independence of the independent Directors and members of the Board Committees.
- Reviewing the compensation, retirement plan and incentive policies and plans for employees.
- Setting performance standards for the Company's CEO, evaluate him/her based on such standards, and submit recommendations to the Board.
The Extraordinary General Assembly during its meeting held on 09/01/1443H (corresponding to 17/08/2021G). approved the Nomination and Remuneration Committee Charter including the Evaluating the strengths and weaknesses of the Board and its committees, as well as Executive Management and its performance in developing and implementing plans to identify and enhance the competencies of the Directors by recommending the necessary actions.
Members of the Nomination and Remuneration Committee
The Nomination and Remuneration Committee consists of the following members:
Until 11 August 2021
| Name of member | Position |
| Mrs. Sarah Jammaz Al-Suhaimi | Committee Chairperson |
| Ms. Rania Mahmoud Nashar | Member |
| Mr. Mark Makepeace | Member |
| Mr. Bandar Abdulrahman bin Mogrin | Member |
From 12 August 2021 until present
| Name | Position |
| Mr. Youssef Abdullah Al-Benyan | Chairman – Independent |
| Mr. Mark Stephen Makepeace | Member – Non-Executive |
| Mr. Bandar Abdulrahman bin Mogrin |
External member (Non-Director – Non-Executive) |
Mr. Youssef Abdullah Al-Benyan
Chairman
Kindly Refer to the Board of Directors Biographies.
Mr. Mark Stephen Makepeace
Member
Kindly refer to the Board of Directors Biographies.
Mr. Bandar Abdulrahman bin Mogrin
Member
Mr. Bander bin Mogrin has 16 years of experience in Shared Services, participated in many conferences in the Middle East, such as the "Opportunities in the Age of Globalization" conference, For the years of 2018 and 2019, he established several initiatives & the most important of which is the Leadership Visions Initiative for Human Capital.
Mr. Bander bin Mogrin is the Chief Operation Officer at the Public Investment Fund (PIF) and the Vice Chairman of the Board of Directors at the Saudi Real Estate Company (SRECO) and the Electronic Games Infrastructure Company, Board member and the Chairman of Nominations and Remunerations Committee at King Abdullah Financial District Management and Development Company (KAFD) and the Saudi Company for Development and Technical Investment (Taqnia). Furthermore, He is a Board Member Gulf International Bank Bahrain and Saudi Arabia (GIB) and Jasara Company.
He is also the Chairman of Nominations and Remunerations Committee of the Electronic Games Infrastructure Company, and a Nominations and Remunerations Committee Member in many different companies such as, Saudi Tadawul Holding Group, Neom Company, the Royal Court Decision Support Center (DSC), Qiddiya Company, the National Center for Privatization (NCP), Jasara Company, Gulf International Bank of Bahrain and Saudi Arabia (GIB), Noon Investments Company, Saudi Real Estate Company (SRECO) Nomination Remuneration and Governance Committee Member at the (NRGC) Saudi Arabian Military Industries company. In addition to his membership of Human Capital & compensation Committee at Sanabil Investment.
Prior to that Mr. Bander bin Mogrin served two years in Saudi Telecom Company as a Planning and Development manager then as a Business Development Manager. Mr. Bander bin Mogrin was also the Head of Human Resources at Jadwa Investment and the General Manager, Human Resources and Support Services Department of National Commercial Bank Capital. In addition to his membership of the Nominations and Remunerations Committee at the Downtown Development Company in Riyadh.
He obtained a Bachelor’s Degree in a Double Major in Human Resources and Business Administration – Eastern Washington University-2000.
Committee meeting attendance
Committee meetings until 11 August 2021: 3 meetings
| Name of member | Position | 19 January 2021 | 18 March 2021 | 28 July 2021 |
|
Mrs. Sarah Jammaz Al-Suhaimi |
Committee Chairperson |
(*)
|
(*)
|
(*)
|
| Ms. Rania Mahmoud Nashar | Member |
(*)
|
(*)
|
(*)
|
| Mr. Mark Makepeace | Member |
(*)
|
(*)
|
(*)
|
| Mr. Bandar Abdulrahman bin Mogrin | Member |
(*)
|
(*)
|
(*)
|
(*) - Attended through communication means
Committee meetings from 12 August 2021: 2 meetings
| Name of member | Position | 29 August 2021 | 30 November 2021 |
| Mr. Youssef Abdullah Al-Benyan | Chairman – Independent |
(*)
|
(*)
|
| Mr. Mark Stephen Makepeace | Member – Non-Executive |
(*)
|
(*)
|
| Mr. Bandar Abdulrahman bin Mogrin |
External member (Non-director – Non-Executive) |
(*)
|
(*)
|
(*) - Attended through communication means
Regulatory Policy and Oversight Committee
The Committee was established by the Board resolution No. 06-01-2020 dated 05 February 2020 and continued until 31 May 2021. The RPOC comprises four (4) members, including three independent external members who do not hold any positions within the Group.
Regulatory Policy and Oversight Committee members
The committee consists of four members:
| Name of member | Position |
| Dr. Abdullah Hassan Al- Abdulqader | Committee Chairman – Independent |
| Dr. Abdulrahman Abdul Mohsen Al-Khalaf | Independent member |
| Dr. Naijm Abdullah Al-Zaid | Independent member |
| Eng. Khalid Abdullah Al-Hussan | Executive member |
Dr. Abdullah Hassan Al- Abdulqader
Chairman
Dr. Alabdulqader is one of the expertise in Saudi Arabia in many different fields such as, governance, risk management, banking system, IT strategies and internal audit management. Dr. Abdulqader gained this experience through a long successful career. He succeeded in transferring his academic output to the financial and banking institutions, regulators and private sector companies, which made a paradigm shift in many different areas of oversight.
After he had his Ph.D. in Business Administration from University of Colorado boulder, Dr. Abdullah started his career for nearly two decades as a Professor in King Fahad University of Petroleum and Minerals in many different areas of Administrative Science and Information System, he made his way through several management positions and degrees in the University until he reached Professorship and Vice-dean position.
Dr. Abdullah was appointed by a Royal Order for the first session of the Capital Market Authority, which was a foundation period where he participated in recognition of the Corporate Governance Regulations which formed the core of the market. After that, he worked on enhancing the governance regionally by working as the CEO of GCC Board Directors Institute.
After the first session of the board of the Capital Market Authority ended, He worked in many different Boards of directors and Committees in several major companies working in Investment, telecommunication and financial services, in addition of being the Chairman of some of the Audit Committees in these companies. He is also a founding member and the Chairman of the Regulatory Policies and Oversight Committee in Saudi Exchange Company.
Dr. Abdulrahman Abdul Mohsen Al-Khalaf
Member
Dr. Abdulrahman Al-Khalaf is a member of the Regulatory and Oversight Committee at Saudi Exchange Company, the Securities Depository Center Company “Edaa”, the Securities clearing Center Company “Muqassa”. He also worked as a deputy governor of technical affairs at the Central Bank and a Vice President of Cash Management and Investment department and the Chairman of the Monetary Union Unit of Gulf Cooperation Council. In addition to representing the Secretariat General of the Gulf Cooperation Council to the Financial Committee of Anti-Money laundering and Terrorist Financing. Dr. Abdulrahman started his career as an Accounting Teaching Assistants in at King Saud University. He was also the Chairman of the Board of Directors of Najm Company for Insurance Services, the Vice-chairman of Al-Eqtessad Company and the Vice-Chairman of Saudi Economic Association. Furthermore, Dr. Abdulrahman al-Khalaf is a member in the Board of Directors and the Chairman of Investment Committee of the Council Health Insurance, and a board member of the Ministry of Investment, Real Estate Development Fund and the Capital Market Authority Board along with being the Chairman of several Committees in the CMA such as, the Financial Committee of MENA Anti-Money laundering and Counter Terrorist Financing, Training and Scholarship Committee at the CMA and the Economic Saudis program of the institute of Banking. He was also a member of the Editorial Council in the AlEqtisadiah Saudi Journal. In addition to working as an Advisor to the Ministry of Human Resources and Social Development, the Steering Committee of the National Security Center and an Advisor to the Minster of Housing.
Dr. Al-Khalaf hold a BA in Economics from King Saud University and a Master degree in Economics from University of Cincinnati and a Ph.D. in Economics from University of Kentucky.
Dr. Naijm Abdullah Al-Zaid
Member
Dr. Al Zaid is the Founding and Managing Partner of ZS&R Law Firm in association with Hogan Lovells. He is the Board Vice Chairman and the Chairman of the Risk and Compliance at the Saudi Electricity Company and a member of the Regulatory Policies and Oversight Committee at Saudi Exchange, the Securities Depository Center Company “Edaa” and the Securities Clearing Center Company “Muqassa”. Further, he is a Governance Committee member at Saudi International Petrochemical Company, a Governance Committee member at Arabian Centres Company. Dr. Al Zaid is a Board member and the Chairman of Risk Committee member at Gulf International Bank (Saudi Arabia – Bahrain) and a member of Nomination and Remuneration Committee at Gulf International Bank (Bahrain). He also served as the Vice Chairman of the Mediterranean & Gulf Cooperative Insurance & Reinsurance Company and as a board member of the National Centre for Privatization & PPP and Audit and Risk Committee at Diriyah Development Authority. Prior to founding ZS&R, Dr. Al Zaid was the Chief Governance and Legal Officer at Al Rajhi Bank Group, a Counsel at the Islamic Development Bank Group and had previously served as the Commissioner and a board member of the Saudi Capital Market Authority, appointed by Royal Order.
Dr. Al Zaid holds a Doctor of Juridical Science from the George Washington University Law School, USA, a Master of Laws from the University of Minnesota Law School, USA, a High Diploma in Law from the Institute of Public Administration, Saudi Arabia and a BA in Islamic Jurisprudence & Law from Umm AlQura University, Saudi Arabia. Dr. Al Zaid career extends to more than 23 years. Further, he successfully completed the Harvard Law School Leadership Program and the London Business School Management Development Program.
Eng. Khalid Abdullah Al-Hussan
Member
Kindly Refer to the Board of Directors Biographies.
Committee meetings
Number of meetings: 2 meetings
| Name of member | Position | 26 January 2021 | 7 April 2021 |
| Dr. Abdullah Hassan Al- Abdulqader | Committee Chairman – Independent |
(*)
|
(*)
|
| Dr. Abdulrahman Abdul Mohsen Al-Khalaf | Independent member |
(*)
|
(*)
|
| Dr. Naijm Abdullah Al-Zaid | Independent member |
(*)
|
(*)
|
| Eng. Khalid Abdullah Al-Hussan | Executive member |
(*)
|
(*)
|
(*) - Attended through communication means
Investment committee
The Board of Directors has formed the Investment Committee during its meeting held on 03/01/1443H (corresponding to 11/08/2021G). The charter of the Investment Committee was approved on
11/10/2021G.
The Committee shall assume the following duties and responsibilities in accordance with the Investment Policy and the authority matrix approved by the Board:
- Recommending the adoption of the necessary work policies for the Management to the Board.
- Assessing the investment strategy and make decisions thereon.
- Supervising the investments of the Group and its Subsidiaries and the approved measures, policies and strategies for investment; ensure their adequacy and make the necessary decisions in this regard; follow up on related procedures and make the necessary recommendations to the Board.
- Examining and evaluating the investment offers proposed by Management, and make decisions thereon.
- Appointing external investment managers, monitoring their performance, approving their fees and terminating their service.
- Examining the periodic reports prepared by Management and making decisions thereon.
- Developing an annual report on the activities of the committee, details of investment strategies, performance, and recommendations regarding the tasks assigned thereto, and submit the same to the Board.
Investment Committee Members
The Investment Committee consists of the following members:
| Name | Position |
| Mrs. Sarah Jammaz Al-Suhaimi | Chairperson – Independent |
| Mr. Sabti Sulaiman Al-Sabti | Member – Non-Executive |
| Eng. Khalid Abdullah Al-Hussan | Member – Executive |
Mrs. Sarah Jammaz Al-Suhaimi
Chairperson
Kindly refer to the Board of Directors Biographies.
Mr. Sabti Sulaiman Al-Sabti
Member
Kindly refer to the Board of Directors Biographies.
Eng. Khalid Abdullah Al-Hussan
Member
Kindly refer to the Board of Directors Biographies.
Committee meetings
Number of meetings: 1 meeting
| Name of member | Position | 27 December 2021 |
| Mrs. Sarah Jammaz Al-Suhaimi | Chairperson – Independent |
(*)
|
| Mr. Sabti Sulaiman Al-Sabti | Member – Non-Executive |
(*)
|
| Eng. Khalid Abdullah Al-Hussan | Member – Executive |
(*)
|
(*) – Attended through communication means