Annual report eng.2019

OF ACHIEVEMENTS 2. Risk Management Committee The Risk Management Committee has been re-composed of three members according to the board of directors’ decree issued on 13 May 2019 for a three years period. Committee members Committee duties Post - Prepare and review the Risk Management Unit’s strategies and work methodology and submit them to the board of directors, ensure the execution of such strategies and policies and that they are suitable with the nature and size of the Company’s activities. - Ensure the availability of the sufficient resources and systems for risk management. - Evaluate the systems and mechanisms for determining, measuring and following up the various types of risks to which the Company may be exposed, in order to determine their shortcomings. - Assist the board of directors to identify and evaluate the acceptable level of risks in the Company, ensure that the Company does not exceed this level of risks following its approval by the board of directors. - Review of the transactions and dealings with the related parties and submit suitable recommendations in this respect to the board of directors. - Review the organizational structure of the Risk Management Unit and lay down the recommendations in this respect and submit them to the board of directors. It has been recommended to mandate the tasks of the Risks management to Boubyan Consulting to prepare periodical reports concerned with the management and assessment of the Company risks. -To ensure that the entity in charge of management has full understanding of the risks surrounding the Company. - Prepare reports on the nature of risks to which the Company is exposed and submit such reports to the Company board of directors. Committee Meetings 1/19 2/19 3/19 4/19 Member classification Non executive Non executive Non executive Independent Mr. Abdulrahman Mohamed Al Shared Committee chairman Committee member Committee member Previously Committee member New Mr. Mohamed Khaled Al Othman Mrs. Rasha Abdulla Al Qenaei Mr. Eid Abdallah Al Rasheedi