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Corporate governance framework

Sound corporate governance is an important and mandatory component of creating and preserving shareholder value, ensuring that our team's actions, behaviors, and procedures adhere to ethical and legal principles, and achieving constructive disclosure and transparency for stakeholders.

Bayt Al Mal Al Khaleeji Financial's corporate governance framework is based on a code of professional conduct and an internal control framework that eliminates conflicts of interest and enforces compliance, a succession plan, operational policies and procedures, internal controls, risk management, internal and external audits, effective communication, and disclosure and transparency in business.

Bayt Al Mal Al Khaleeji Financial is committed to adopting the regulations issued by the Saudi Capital Market Authority and the Sharia Supervisory Board. The company also places great importance on the adoption of its policies and procedures, transparency, accountability, compliance with laws and regulatory requirements, and the principles of fairness and social responsibility.

Corporate governance is based on the following aspects:

Managing and overseeing operations.
Promoting responsible and ethical decision-making.
Timely and Balanced Disclosure.
Recognizing the Legitimate Rights of All Stakeholders.
Identifying and Mitigating Risks.
Encouraging Better Performance, Fair and Responsible Incentives and Compensation.

Bayt Al Mal Al Khaleeji Financial maintains a Code of Professional Conduct that defines the behavior of its Board of Directors, Executive Management, and employees to ensure that all actions and behaviors are within the framework of the company's core governance. The company does not enter into any contract that might involve any material interest of its Board of Directors, Managing Director, Chief Executive Officer, Chief Financial Officer, or any of its partners.

Compliance:

Bayt Al Mal Al Khaleeji Financial has comprehensive policies and procedures in place to ensure full compliance with the relevant rules issued by the Capital Market Authority of the Kingdom of Saudi Arabia and the laws and regulations issued by regulatory authorities in all countries in which the company operates. The Compliance Committee is responsible for ensuring compliance with all applicable laws and legal and administrative requirements.

Ethical Conduct, Integrity, and Independence:

All employees of Bayt Al Mal Al Khaleeji Financial are responsible for reporting any actual or suspected money laundering violations to the Compliance Department. Bayt Al Mal Al Khaleeji Financial's policy is to allow employees to submit confidential reports of any breach of the Code of Conduct. The purpose of this policy is to encourage employees to report any malpractice by their supervisors or colleagues, to play an active role in daily operations, to increase employee engagement, to maintain a professional work environment, and to measure employee awareness of laws and regulations.

Safeguards Against Anti-Money Laundering and Counter-Terrorism Financing:

The company applies the "Know Your Customer" procedures issued by the Capital Market Authority as a basis for identifying its customers, verifying their sources of funds, continuously monitoring investments, and submitting the required reports to regulatory authorities. The company also conducts additional studies on its customers to ensure that all required conditions are met.

Communications and Public Relations:

The company is committed to a policy of providing complete and accurate reports on the company's core activities, including organizational structure, performance, and investment activities. The best way to ensure this information is quickly and widely available is through the company's constantly updated website, where you can access all of this information, including financial performance reports and investment reports.

Social Responsibility:

As a financial institution committed to the provisions and principles of Islamic Sharia, we recognize our ongoing commitment and responsibility as citizens and contributing to the benefit of society. One of the main pillars of Bayt Al Mal Al Khaleeji Capital's corporate social responsibility policy is supporting the development of future generations, including sponsoring a number of educational initiatives and supporting educational institutions that nurture outstanding students.

Corporate Governance and Management:

Our Board of Directors, committee members, and management team are distinguished by their diverse experience, each with a proven track record of accomplishments and a keen understanding of the conditions and requirements of the local and Gulf financial markets.
The management team was carefully selected, and each has a defined curriculum to ensure their continuous development.
Our organizational structure features flexible leadership and a hierarchical structure that reinforces the principle of leadership within the company.