Page 11 - Corporate Governance Eng.

2. Risk Management Committee
The Risk Management Committee is formed of three members according to the board of directors’ decree issued
on 13 May 2019 for a three years period.

Committee Meetings
Committee members Post Member
classification
1/2020 2/2020 3/2020 4/2020 5/2020
Mr. Abdulrahman Committee Non
Mohamed Al Shared chairman executive

Mr. Mohamed Khaled Committee Independent
Al Othman member

Mr. Eid Abdallah Al Committee Non
Rasheedi member executive

- 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,
Committee duties 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 where the effects and risks resulting from the Covid 19
pandemic were taken into consideration, and a comprehensive special report was made on all
risks that the company might be exposed to and submitted to the Board of Directors.