About KMEFIC
Committees
The Board of Directors has established the following specialized committees which provide support and recommendations to support the Board in carrying out its tasks, the composition of the Board committees and the adoption of its charters and powers.
The Audit Committee
The Committee aims to ensure the honesty and integrity of the financial reports of the Company, verifies the adequacy and effectiveness of the internal control systems applicable to the Company and creates a culture of commitment within the Company. The Audit Committee consists of three members of the Non -Executive Board members. Committee membership is held by an independent member and the Chairman of the Board should not be a member of the Committee. As shown below:
Mr. Malek Al-Ajeel
(Independent)
Chairman of the Committee
Mr. Ahmed Al-Bahar
(Non-executive Member)
Member
Ms. Altaf Al-Thekair
(Non-executive Member)
Member
Risk Management Committee
The Committee aims to ensure the honesty and integrity of the financial reports of the Company, verifies the adequacy and effectiveness of the internal control systems applicable to the Company and creates a culture of commitment within the Company. The Risk Committee consists of three members of the following Board members. Committee membership is held by an independent member and the Chairman of the Board should not be a member of the Committee. As shown below:
Mr. Ahmed Al-Bahar
(Non-executive Member)
Chairman of the Committee
Ms. Altaf Al-Thekair
(Non-executive Member)
Member
Mr. Asser Abou Heba
(Executive member)
Member
The Nomination and Remuneration Committee
The Committee aims to prepare recommendations on nominations for Board members and executive management as well as provide recommendations for policies and regulations governing compensation and bonuses. Members of the Committee include three members of the Board members. Membership of the Committee should be held by at least one independent member and the Committee is chaired by a non-Executive Board member. As shown below:
Mr. Hamad Al-Thekair
(Non-executive member)
Chairman of the Committee
Mr. Malek Al-Ajeel
(Independent)
Member
Mr. Ahmed Al-Bahar
(Non-executive member)
Member