Corporate Governance

Corporate Governance Statement:

The Board of Directors of A’Sharqiya investment Holding Co. SAOG is committed to the highest standards of Corporate Governance. The company is committed to raising the benchmark even further so as to set a leading example of the spirit of the Code of Corporate Governance laid out by the Capital Market Authority (CMA) which has been recently released. This commitment is reflected in the fact the company is competing for the first time to achieve a respected position in the CMA Corporate Governance Excellence Award in the Investment Sector for the biennial year 2017.

The Board of directors (BOD):

The BOD is responsible for overseeing the long-term interests of shareholders and other key stakeholders.

Audit Committee

The Audit Committee is entrusted with compliance to the corporate governance code stipulated by the Capital Market Authority (CMA). This mainly involves review of financial statements before submission to the Board, review of internal audit plans and reports, assessment of internal controls, assessment of risk management policies and evaluation of related party transactions and acting as medium of communication between the Board and internal auditor and statutory auditor. The audit committee is also responsible for recommending the appointment or reappointment of statutory auditor to the Board. The audit committee submits its recommendations and findings on these matters to the Board.

Investment Committee:

The Investment Committee (IC) which comprises of certain members of the board has been set up to oversee the adherence to the investment policies and guidelines set out in the Investment Policy manual. The investment recommendations of the management have to be approved by the IC and for investment size beyond the scope of the IC; it is referred to the board for approval. The IC is required to meet a minimum of two times in a year.