Committees of Board of Directors

The board of directors shall carry out its tasks with the support of Three main committees and the responsibilities and duties of each committee and the powers thereof shall be vested by the board of directors.

 

 

Risk management and Internal Audit Committee

The existence of risk management and internal audit committee is one of the main features of application of good governance rules as this committee works to establish the compliance culture in the company through ensuring the integrity and correctness of financial reports as well as checking the sufficiency and efficiency of the applicable corporate internal control systems.
It also promotes the corporate efficient performance by understanding and analyzing the volume of risks ahead of the company’s business to eliminate them as much as possible to realize the corporate vision in accordance with the approved policies and standards.
Furthermore, the committee has the right based on the powers vested into it by the board to access and review all information, data, reports, records and correspondences related to the company’s business or other matters which the committee deems important to review to ensure efficient performance of the risk and internal audit works in accordance with the corporate objectives and to submit comments and recommendations of risk and internal audit works to the board of directors and executive management on regular basis.

Committee Members

Mr/ Yousef Eissa Al-Othman

Chairman
Mr/ Marzouq Fijhan Al Mutairi

Member
Mr/ Abdulrahman Abdul Aziz Al–Babtain

Member

 

 

Nomination and Remuneration Committee

The goal of nomination and remuneration committee is to promote efficiency and performance through participation in the selection of qualified members of the board of directors and senior executives to achieve the corporate vision in accordance with the approved policies and standards, develop policies of remunerations of board members and senior executives of the company. The committee also provides recommendations to the board of directors regarding the requirements of appropriate skills of board members to realize the corporate objectives and protect the interests of shareholders and investors with higher efficiency at reasonable cost.
The committee has the unrestricted right to access and review all information, data, reports, records and correspondences related to nominations to the board membership or appointment of senior executives of the company as well as the particulars related to the remunerations of the board chairman and members and senior executives or other matters which the committee deem important to review as falling within its powers and provide regular recommendations to the executive management and board of directors. The board of directors shall take all necessary measures for the committee to perform its tasks.

 

Committee Members

 

Mr/ Yousef Eissa Al-Othman

Chairman
Mr/ Anwar Abdulaziz Al Usaimi

Member
Mr/ Marzouq Fijhan Al Mutairi

Member

 

 

The Board Executive Committee

The Board Executive Committee at Salhia Real Estate Co. that is affiliated with the Board of Directors, was established as an added value to operational activities, and to enhance the effectiveness of the managerial and executive bodies, where the board executive committee is considered as an assisting tool for the Board of Directors in fulfilling its duties towards the activities specified in the committee charter.

 

The charter of the Board Executive Committee has comprised  a number of duties and responsibilities that is administered by the committee for managing financial and accounts-related affairs, human resources and managerial affairs, investment management, real-estate and construction management within Salhia, and the committee calls for meeting at least once every quarter and when necessary, and it is allowed to meet with any of the executive personnel within the company to discuss corporate affairs and challenges, in addition to presenting and discussing the information pertaining to the duties and responsibilities of the committee

 

Committee Members

 

Mr/ Ghazi Fahed Alnafisi

Chairman
Mr/ Anwar Abdulaziz Al Usaimi

Member
Mr/ Abdulaziz Ghazi Alnafisi

Member