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File: Corporate Governance Pdf 161785 | Corporate Governance Manual
i corporate governance cg manual confidential page 1 of 26 confidential i corporate governance manual i corporate governance cg manual confidential page 2 of 26 i corporate governance manual table ...

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              I Corporate Governance (CG) Manual 
                                  Confidential 
                                 Page 1 of 26 
     Confidential 
     
    I Corporate Governance Manual 
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
              I Corporate Governance (CG) Manual 
     
                      
                                  Confidential 
                                 Page 2 of 26 
     
          I Corporate Governance Manual 
           
          Table of Contents 
            Table of Contents ................................................................................................................................................................. 3 
            Table of Abbreviations ......................................................................................................................................................... 4 
            1.   Introduction .................................................................................................................................................................... 5 
                 1.1.  Document Authorization Control Sheet .................................................................................................................. 5 
                 1.2.  Document Approval Record .................................................................................................................................... 5 
                 1.3.  Review, Update & Maintenance ............................................................................................................................. 5 
            2.   Purpose of the Manual .................................................................................................................................................. 6 
            3.   Principles........................................................................................................................................................................ 7 
                 3.1.  Leadership from the Top ......................................................................................................................................... 7 
                 3.2.  Ethical Business Practice ....................................................................................................................................... 7 
                 3.3.  Principle of Accountability & Responsibility ............................................................................................................ 8 
                 3.4.  Shareholders & Stakeholders Rights ...................................................................................................................... 8 
                 3.5.  Conflicts of Interest ................................................................................................................................................. 9 
                 3.6.  Transparency & Disclosure ..................................................................................................................................... 9 
                 3.7.  Social Responsibility ............................................................................................................................................... 9 
                 3.8.  Remuneration & Compensation of Board / Board Committee Members and Senior Executives ........................ 10 
                 3.9.  Code of Conduct Policy ........................................................................................................................................ 10 
            4.   Legal and Regulatory Framework .............................................................................................................................. 10 
            5.   Corporate Governance Structure .............................................................................................................................. 12 
                 5.1.  Organizational Structure ....................................................................................................................................... 12 
                 5.2.  General Approval Hierarchy ................................................................................................................................. 12 
            6.   The General Assembly ................................................................................................................................................ 13 
            7.   The Board and its Committees .................................................................................................................................. 14 
                 7.1.  Board .................................................................................................................................................................... 14 
                 7.2.  Board Committees ................................................................................................................................................ 14 
                 7.3.  Delegation of Authority Manual ............................................................................................................................. 18 
            8.   Management and Management Committees ............................................................................................................ 20 
                 8.1.  The MD&CEO ....................................................................................................................................................... 20 
                 8.2.  Management Committees ..................................................................................................................................... 20 
            9.   Shariah Governance .................................................................................................................................................... 21 
            9.1  Shariah Committee: ..................................................................................................................................................... 21 
            10.  Code of Ethics & Conflict of Interest ......................................................................................................................... 21 
            11.  Related Parties Transactions Policy ......................................................................................................................... 22 
            12.  Systems & Controls .................................................................................................................................................... 23 
                 12.1. Control Functions .................................................................................................................................................. 23 
                 12.2. Other Systems and Controls ................................................................................................................................. 24 
                 12.3. Segregation of Duties ........................................................................................................................................... 25 
                 12.4. Policy Management .............................................................................................................................................. 25 
            13.  Subsidiaries ................................................................................................................................................................. 26 
           
                                                   
                                                                               Confidential 
                                                                            Page 3 of 26 
           
       I Corporate Governance Manual 
        
       Table of Abbreviations 
           S. No.    Abbreviation                                       Expansion  
             1           AML          Anti-Money Laundry 
             2            AC          Audit Committee 
             3           BRC          Board Risk Committee 
             4            CG          Corporate Governance 
             5           CGD          Corporate Governance Division 
             6           CMA          Capital Market Authority 
             7            CTF         Combating Terrorist Financing 
             8            DoA         Delegation of Authority Manual 
             9            EC          Executive Committee 
             10          LGG          Legal and Governance Group 
             11       MD & CEO        Managing Director & Chief Executive Officer 
             12           MC          Ministry of Commerce  
             13           RPs         Related Parties 
             14          SAMA         Saudi Central Bank 
             15          NRC          Nomination and Remuneration Committee 
             16          PPU          Policies & Procedures Unit 
             17          PPC          Policies & Procedures Committee 
                                        
                                                          Confidential 
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...I corporate governance cg manual confidential page of table contents abbreviations introduction document authorization control sheet approval record review update maintenance purpose the principles leadership from top ethical business practice principle accountability responsibility shareholders stakeholders rights conflicts interest transparency disclosure social remuneration compensation board committee members and senior executives code conduct policy legal regulatory framework structure organizational general hierarchy assembly its committees delegation authority management md ceo shariah ethics conflict related parties transactions systems controls functions other segregation duties subsidiaries s no abbreviation expansion aml anti money laundry ac audit brc risk cgd division cma capital market ctf combating terrorist financing doa ec executive lgg group managing director chief officer mc ministry commerce rps sama saudi central bank nrc nomination ppu policies procedures unit ppc...

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