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BMK  

The Board's committees carry out their various tasks, which complement each other and contribute to supporting the company in carrying out its administrative and supervisory duties:

 

1- Executive and Investment Committee:

The committee has the following responsibilities:

  • Providing recommendations to the Board of Directors on various topics, such as strategic plans and comprehensive business plans, and overseeing their implementation.
  • It is mandated to study and develop the company's plans and estimated budgets, formulate the company's general policy, monitor performance and achievements in line with previously drawn plans, and submit reports to the Board on operational and strategic matters.

  • It is responsible to the Board of Directors for developing and monitoring the direct investment strategy, with regard to the overall performance of the funds.
  • Reviewing and evaluating the company's investment policies and strategies, and recommending promising investment opportunities for the company.

 

Members of the Executive and Investment Committee:
  • Mr. Khalid bin Ahmed Rashid Al Dosari - Chairman of the Committee.
  • Mr. Mohammed bin Ahmed Rashid Al Dosari - Member.
  • Mr. Abdulrahman bin Ali Abdulrahman Al-Dawood – Member.

 

2- Audit and Risk Committee:

The committee is responsible for the following:

  • Responsible for reviewing and monitoring the risks to which the company is exposed, its risk management strategy, and related controls.
  • The committee manages the company's capital requirements by ensuring that it maintains an appropriate level of capital and liquidity in line with its activities, in addition to the internal capital adequacy assessment process.
  • Overseeing the disaster recovery plan and business continuity plan.
  • The committee reviews processes related to risk and compliance, assesses the impact of legal changes, verifies the implementation of accountability procedures on management, and reports on any procedures/transactions that involve high risks in accordance with internal policies and rules issued by regulatory authorities.
  • Nominating the names of certified public accountants licensed to audit corporate accounts who have the ability to perform this work efficiently and effectively.
  • The committee oversees the company's internal control activities to ensure compliance with the policies established by the Board of Directors and submits reports and recommendations to the Board. To achieve this, the committee sets standards to ensure the effectiveness of internal control systems and proposes corrective actions.
  • The committee must take reasonable measures to ensure that the operations, products, and services of the various departments are compliant with the rules and regulations of the Capital Market Authority. The committee must also review and discuss the audited annual financial statements and the results of external audits prior to the annual general meeting of shareholders and before submitting these statements to regulatory authorities.

     

Members of the Audit and Risk Committee:
  • Mr. Oras Nader Siam - Chairman of the Committee
  • Mr. Mohammed Abdullah Al-Bazie - Member
  • Mr. Wael Suleiman Al-Wakeel - Member

 

3- Remuneration and Nomination Committee:

The committee is responsible for the following:

  • The committee identifies the strengths and weaknesses of the Board of Directors and proposes solutions to address them in the best interests of the company.
  • The committee is responsible for all matters related to human resources, including reviewing human resources management systems and organizational charts to identify areas for improvement.
  • The committee is responsible for reviewing compliance with the Capital Market Authority's requirements regarding vacant positions and Saudization rates.
  • The committee recommends nominations for membership in the Board of Directors. The committee must ensure that no one who has been previously convicted of any crime involving moral turpitude or dishonesty is nominated.
  • The committee must establish clear policies for the remuneration of Board members and senior executives, using performance-related criteria to determine such remuneration.

 

Members of the Remuneration and Nomination Committee:
  • Mr. Mohammed bin Ahmed Rashid Al Dosari - Chairman of the Committee.
  • Mr. Nasser Ali Nasser Al Misnad - Member.
  • Mr. Abdulrahman bin Ali Abdulrahman Al Dawood - Member.