Page 70 - 2023 Auunal Report - EN

ANNUAL REPORT 2023 69

governance rules and the most prominent violations of the Capital Markets Authority in order to develop their skills and
expertise and keeping them updated with the latest developments to help them to perform their assigned responsibilities.
• Performance evaluation of members of the board of directors and executive management:
The Company laid down systems and mechanism for performance evaluation of members of the board of directors and
the executive management on periodical basis, through a number of key performance indicators (KPIs), connected with
the extent of achieving the strategic objectives of the Company, the quality of risk management, and sufficiency of the
internal control systems. Such procedures are written clearly and characterized by transparency and disclosed to all per-
sonnel, whereby it laid down the key performance indicators (KPIs) for the evaluation of each board member separately,
the contribution of each member of the board of directors and each of its committees, as well as the key performance
indicators (KPIs) to evaluate the executive management and all the Company personnel, on periodical basis, in order to
indicate and determine the weaknesses and strengths and propose addressing them in a manner conforming with the
interest of the Company.

• Institutional value creation among the Company personnel
The board of directors creates values in the Company on the short, medium and long term, by laying down and providing
the mechanisms and procedures to achieve the Company strategic objectives, as well as enhance the performance rates
to efficiently contribute in creating the institutional values among personnel and motivate them to work continuously in
order to preserve the financial integrity of the Company.

Eleventh Rule

Focusing on the significance of social responsibility

• Develop a policy that ensures achieving a balance between each of the company's goals and the goals of society.
The company has a policy aimed to achieve a balance between the objectives of the company and the objectives that the
community seeks to achieve as per the framework of corporate governance, which includes the enhancement of the so-
cial and economic conditions of the community in which it operates in accordance with the corporate governance rules.

• Programs and mechanisms that highlight the company's efforts and role in the social work field.
The corporate governance framework stipulates the continuous obligation of the Company to act ethically according to
the requirements of the laws and general customs, and sustainable contribution by the Company to achieve social and
economic development by attracting national manpower and enhance the quality of living conditions for the workers
and their families in the local community and the society as a whole. The social responsibility has become one of the
main pillars within the policies of "Al Mazaya Holding" and its annual practices, and as a belief in the social responsi-
bility, the company supported the persons in need from the society members and the employees and their relatives by
participating in paying the costs of their medication and study expenses for their family members as well as providing
settlement of some of their financial obligations. And based on our societal responsibility during the current circumstanc-
es that people in Gaza are going through as a result of the Israeli aggression on the occupied Palestinian territories, Al
Mazaya Holding Company was keen to support the afflicted families in Gaza and contributed with the aim of providing
relief and medical supplies, fuel and support to our brothers by participating in a donation campaign through Kuwait Red
Crescent Society and Al-Safa Humanitarian Charitable Society.

The approval of the General Assembly has been taken to allocate a special amount to be utilized towards social services
and projects. The Company is keen to educate its employees on the social responsibility objectives of the company,
which contributes to the improvement of the performance of the company and respects all applicable laws and regula-
tions and abide by them.

The company also highlights all its efforts in the field of social work, through press releases and presentations on the
social networking sites of the company.