Governance
Philosophy
The complex, diversified and rapidly changing nature of the operating environment in the investment sector makes it imperative for institutions to ensure efficient and effective governance arrangements to enable transparent, efficient and effective decision-making. Corporate governance is a set of systems, organizational structure, policies and mechanism through which institutional activities and processes are directed, managed and controlled. Sidra Capital Holding has developed and adopted the highest level of good corporate governance rules.
BOD Responsibilities
The role of the board of directors in the company represents the balance point that works to achieve the goals of the shareholders and follow-up of the executive management of the company. As the board seeks to achieve the company’s strategic goals by making sure that the executive management carries out the tasks entrusted to it to the fullest extent, and that it works to enhance the ability of the company’s competitiveness, achieving high growth rates, and working on what contributes to maximizing profits, and that executive management decisions and procedures are always in the interest of shareholders.
Committees & Charters
Executive committee It is a committee emanating from the Board of Directors of Sidra Capital Holding Company, formed from among the members of the Board to support them in assuming tasks and consider urgent matters that cannot be postponed until the next board meeting. Taking into consideration the limits of the powers that the Board approved for the Committee within the approved authority guide for the company. The Audit Committee It is a committee formed by the Board of Directors of Sidra Capital Holding Company. The committee is responsible for assisting the Board of Directors in fulfilling its obligations in terms of overseeing the quality and integrity of financial reports and accounting standards in addition to internal audit and oversight, the governance framework and the overall framework of corporate governance of the company, in addition the relationship of the company with the external auditors. Fraud committee It is a committee of the Board of Directors of Sidra Capital Holding Company. The committee is responsible for facilitating transparent, comprehensive and independent oversight of fraud investigation in line with the laws and regulations in force in the State of Kuwait. By establishing a mechanism for identifying, investigating, reporting, and procedures for potential fraudulent activities and / or suspected discovery within the company, in line with the corporate values ​​and ethical codes of conduct for Sidra Capital, this regulation aims to communicate a zero-tolerance approach to fraud. Rewards and Nominations Committee It is a committee emanating from the Board of Directors of Sidra Capital Holding Company. The committee is responsible for submitting recommendations for accepting the nomination and re-nomination for members of the Board of Directors and the executive management, and the committee is responsible for setting a clear policy for the mechanism for determining the remunerations of members of the Board of Directors and the executive management according to the company’s long-term strategic goals. Risk Committee A committee emanating from the Board of Directors of Sidra Capital Holding Company.
The committee aims to support the Board in effectively overseeing the performance of the company in relation to risk management and the Risk Committee assists the Board of Directors in fulfilling their supervisory responsibilities for risk management practices in Sidra Capital. By putting value and addition to protect the company’s operations through effective risk management systems, and to submit recommendations to the Board of Directors and report exposure to risks. Investment committee It is a committee made up of members of the executive management and chaired by the Group CEO. The committee aims to perform duties in terms of supervision, acquisition, sale and capital expenditures for investments that support the company’s mission, values ​​and strategic goals.