The Executive Committee supervises all business operations of the Bank and makes swift decisions on matters and issues related to the Bank. It reviews, follows up, and approves key financial, non-financial, commercial, investment, and operational decisions within its authorities and reports any significant matters to the Board of Directors through the Committee Chair for resolution.
The Audit Committee is responsible for reviewing financial reports before presenting them to the Board to ensure their integrity and transparency. It oversees the internal audit function to ensure its effectiveness and alignment with the approved strategy and reviews reports from regulatory bodies to verify compliance. The committee submits recommendations to the Board regarding improvements in internal controls and risk management and follows up on the performance of the internal audit department and the Bank’s relationship with the external auditor to ensure independence and transparency.
The committee is responsible for setting nomination and remuneration policies for Board and committee members and senior executives, overseeing succession planning, evaluating Board performance, and approving incentives in compliance with the Saudi Central Bank and Capital Market Authority regulations. It also approves the nomination or appointment of the Bank’s representatives in the boards of subsidiaries and affiliates within its authority.
The committee is responsible for setting and approving the risk management framework and policies, determining the risk appetite level, and monitoring the Bank’s adherence to approved strategies and plans. This includes credit, market, liquidity, operational, reputational, cyber, and technology risks.
Anees Ahmed Moumina (Chairman of the Committee)
Haitham Rashid Alshaikh Mubarak (Member)
E Ahmed Abdulaziz Alhakbani (Member)
Ms. Maram Mohammed Alnumay (Member)
Saad Saleh ALAboodi (Member)
The committee oversees the implementation of the governance framework, reviews and updates policies related to professional conduct and corporate social responsibility to reflect the Bank’s values, and monitors the Bank’s compliance with regulatory laws and regulations. It also approves strategies and programs related to governance, sustainability, and social responsibility and submits the necessary recommendations to the Board.
Saad Abdulaziz Alkroud (Chairman of the Committee)
E Ahmed Abdulaziz Alhakbani (Member)
Ms. Maha Suliman Alnuhait (Member)
The committee provides Shariah opinions on all Bank transactions and ensures compliance with Shariah rulings. It works to develop Shariah performance while preserving the identity of Islamic banking, sets and develops Shariah standards and policies, and is committed to preparing the annual Shariah report for shareholders. The committee must promptly notify the Board of any material non-compliance cases.
