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Board Policy

Board of Directors

The company is managed by an effective and integrated board, which is committed to its responsibilities to fulfill its functions and is collectively responsible for promoting the long-term success of the company by managing and supervising its affairs. Managers are also responsible for ensuring that the board of directors takes decisions with full objectivity when fulfilling the company's functions.

Board of Directors Formation

The Board is made up of non-executive members elected by the General Assembly and are always keen on the independence of the procedures and decisions made. The board also includes many board members to make room for them to form the required number of board committees. The process of electing and renewing members is carried out in accordance with the rules and regulations in force. Any changes in the number of members of the board of directors of the company must be appropriately highlighted through subsequent amendments to the Articles of Association in a manner that is appropriate to the applicable rules, regulations and instructions. Each member of the Board of Directors is elected for a period of three years. The board shall hold a meeting at the end of this period and may request the reappointment of members whose term terminated.

Board of Director’s Qualifications

The Board members have the appropriate qualifications and experience to suit their positions and functions. They are fully aware of the role they are required to play in terms of governance and responsibility to make objective decisions on company-specific matters and statements. Each board member should not to commit to obligations beyond his/her delegated authorities under his membership and not intervene with the duties and responsibilities of a member of the Board of Directors.

The Board's induction program

The Board adopts an official program to introduce and learn about the company's operations and activities. The Board of Directors is unanimously responsible for the company, including the tasks of acknowledging and overseeing the company's strategic objectives, risk management strategy and internal audit department.