Page 9 - CGR-2022-EN

64 ANNUAL REPORT 2022

• The Company governance framework, approved by the board of directors, reflects the current tasks and
responsibilities of the chairman for 2022 in line with the corporate governance rules, summarized in the following;
1) Ensure the board’s discussion of all fundamental maters efficiently and in the proper time.
2) Support and assist the executive management and almost daily coordination with the CEO to follow up the
operations of the holding company and subsidiary companies.
3) Represent the Company towards third parties, as stipulated under the Company articles of association.
4) Encourage all members of the board of directors to participate completely and efficiently in transacting the Board
affairs to ensure the Board’s undertaking of actions in favour of the Company.
5) Ensure actual communication with the shareholders and submit their opinions to the board of directors.
6) Encourage constructive relations and efficient participation between each of the board and the executive
management.
7) Create a culture encouraging constructive criticism on the issues on which there is a disagreement in views
between the board members.

• The Company has a qualified executive management team with a high standard of competence. The corporate
governance framework reflects the current tasks and responsibilities of the executive management, with which it
complies, in light of the powers and authorities granted and approved by the board of directors. achievements of
the current executive management during the year 2022 are the following Summarized in the following:

1) Execute all the Company internal policies, rules and regulations, as approved by the board of directors.
2) Execute the annual strategy and plan approved by the board of directors.
3) Prepare periodical reports (financial and non financial) in connection with the progress made in the Company’s
business, present such reports to the board of directors including feasibility studies, financial and technical reports on
the company's current and emerging projects and activities, including:
-Sky Court
-Q-Point
- Ritim Istanbul mall Project – Turkey.
- Oman Residence Project Zone 1 & Zone 2 – Sultanate of Oman.
- Q-line Project R10 – UAE.
- Mazaya Clinic 2 ( Subah Al Salem )– Kuwait.
- Mazaya Clinic 3 (Bnaid AlQar) -Kuwait
- Mazaya Towers – Kuwait
- Clover Center Jabriya – Kuwait
- Mazaya logistics – Kingdom of Bahrain
- Sky Gardens – UAE
- Indigo – UAE
- Almaather Towers – KSA
- AlOlayya Tower – KSA
- Mazaya Clinic 4 Hawally – Kuwait
- Mazaya Clinic 5 Jabriya – Kuwait
- Mazaya Clinic 6 Samiyah – Kuwait
- Mazaya Clinic 7 Jahraa – Kuwait.
- Mazaya Clinc 8 (Sabah Al Salem) – Kuwait
- Third-party property management
- Jeleeb Al-Shuyoukh complex
- Al Riqee property
- The medical operational activities through the medical subsidiary company.
- Swap of plots owned by one of the subsidiaries with new plots that could be developed in the state of Dubai.
• Lay down an integrated accounting system which keeps records, registers and accounts that reflect in detail
and accurately the financial statements and income accounts, which permit preserving the Company’s assets and
preparation of the financial statements according to the international accounting standards approved by the Capital
Markets Authority. The advanced accounting system (Microsoft D365 F&O) provides the ability to issue consolidated
financial statements at the company and subsidiary level with high efficiency and quality.
• Manage daily work and direction of the activity, in addition to the management of the Company resources in the
optimum manner, gratify profits and reduce costs, in line with the Company goals and strategy.
• Efficient participation in the building and development of ethical values culture in the Company.
• Lay down internal control systems and risks management, and ensure the efficiency and sufficiency of such
systems, and concern for compliance with the risks appetite approved by the board of directors.