AnnualReport

ANNUAL REPORT

2016

2. Risk Management Committee

The Risk Management Committee has been re-composed of three members according to the board

of directors’ decree issued on 25 April 2016 for a three years period.

3. Nominations and Remunerations Committee:

The Nominations and Remunerations Committee was re-composed of three members according to

the board of directors’ decree issued on 25 April 2016 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 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 an external entity qualified to prepare periodical

(quarterly) 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 including:

- Ritim Istanbul Project.

- Oman Project.

- MUs Project – Dubai Land – U.A.E

- Sharq Land Project.

- Morina Land Project –Abu Dhabi

Committee Meetings

1/2016 2/2016 3/2016 4/2016

Member

classifi

-cation

Non

executive

100% 0%

100%

Non

executive

Independent

Attendance

Percentage

Absence

Percentage

Mr. Abdulrahman

Mohamed Al Shared

Committee

chairman

Committee

member

Committee

member

Mr. Mohamed Khaled

Al Othman

Mrs. Rasha Abdulla

Al Qannai