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ANNUAL REPORT
2016
E
leventh Rule
The Company has also provided to members of the board of directors and the executive management train-
ing programs related to the Company’s operations and the role of members of the board of directors and the
executive management in order to develop their skills and experiences and keep in line with the develop-
ments in a manner which assists them to perform the tasks entrusted to them. Such training courses included
the following for example:
- Finance for Non-Finance Executives.
- Managing for Success
- Master Class in KPIs
- HR Strategy
- Shift your Leadership Brilliance
- Decision Making Strategies Under Risk and Uncertainty
• 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 indi-
cators (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 personnel., whereby it laid down the key performance
indicators (KPIs) for the evaluation of the board of directors as a whole, 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 (semi annual and annual) 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 en-
hance 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.
Focusing on the significance of social responsibility
• Establish equilibrium between the objectives of the Company, objectives of the community, and the
programs and mechanisms used in the social work field
The corporate governance framework stipulates the continuous obligation of the Company to act ethically ac-
cording 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 Company
was keen to increase the percentage of employment of national staff. The Company has also contributed in the
conservation of the environment against environmental damages and pollution by adopting the recycling of
wastes in the Company premises and towers by collecting wastes of the same type in preparation for recycling
them. Further, the Company participates periodically in raising cultural and economic awareness in the society
by issuing a periodical economic report. The board of directors has adopted the execution of the social respon-
sibility initiative and laid down a full plan for the social responsibility activities. The executive management
launched a social responsibility initiative to encourage youth to put forth their ideas and develop their skills.
The Company board of directors has recommended to obtain the approval of the general assembly to allocate a
percentage of the realized profits for the purpose of directing it for the social services and projects.The Company
is keen to raise the awareness of its personnel of the social responsibility objectives carried out by the Company,
which contributes in raising the Company performance standard and observing all the applicable laws and
regulations, as well as comply with them.
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