Strategy

Group’s Strategy

‎In Al Faris Holding Group, we are committed to applying the best practices, and accomplish our work in an efficient, professional, transparent and honest way with high ethical principles in our work environment. The Board of Directors, with the help of the executive management committee and internal auditing team, is responsible for ensuring the application of institutional governance in all works, activities and procedures. Institutional governance consists of the following:

Code of Conduct‎

All management team and staff comply with the code of conduct that includes the general principles

All management team and staff comply with the code of conduct that includes the general principles of business, commitment, privacy and confidentiality.

Risk Management ‎

Risk management is responsible for evaluating all risks related to business and investments ‎

Risk management is responsible for evaluating all risks related to business and investments and developing the appropriate plans in order to avoid any loss or damage in any of the affiliates or subsidiaries. ‎ ‎

Framework of Internal Control‎

The system of internal control in Al Faris Holding Group plays a key role to ensure the ability ‎

The system of internal control in Al Faris Holding Group plays a key role to ensure the ability of the Board and management to accomplish the business goals of the company and to maintain its assets as well. ‎

Group Internal Audit

The team of internal audit supports shareholders, Board of Directors and executive management

The team of internal audit supports shareholders, Board of Directors and executive management in fulfilling their responsibilities concerning the follow up and development of the Group’s business through the processes of independent auditing and consultations that aim to evaluate and promote the system of internal audit. The team submits its reports to the Board of Directors and shareholders too. ‎

‎Executive Management Committee

Executive Management Committee studies all investments to ensure the balance between returns

Executive Management Committee studies all investments to ensure the balance between returns and risks, in addition to evaluating the internal controls to ensure objectivity, independence, effectiveness and cost-effectiveness and making recommendations to approve appropriate required improvements. The committee consists of managing director, deputy managing director, executive officers of the company and heads of legal and financial affairs departments. ‎

Board of Directors ‎

The Board of Directors carries out its responsibilities based upon the directions of the Chairman.

‎The Board of Directors carries out its responsibilities based upon the directions of the Chairman. The Board of Directors reviews and approves the general strategy of works of the group, supervises all works and activities, approves the suitable controls and works on unifying and fitting all goals and objectives within the Group. ‎

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