Governance

The Bank, led by the Board of Directors, works to promote the continued existence of an effective, advanced and sustainable governance system, formulate strategic objectives and transform them into appropriate work programs, and work to achieve them while adhering to the standards of transparency, disclosure and justice, to achieve the bank’s strategy, vision, mission and sustainable development, as governance - as a concept of the bank - is rules and procedures for leading and directing the bank, including mechanisms that regulate the relationship between the Board of Directors, executive management, shareholders and stakeholders, as these rules and procedures are applied to facilitate the process of Making decisions and achieving justice and transparency in financial transactions and the business environment to create growing value for the bank and protect the rights of shareholders, investors and stakeholders.

The Bank’s governance is based on fair treatment based on equality between the interests of different parties.

The Bank’s governance is based on fair treatment based on equality between the interests of different parties such as shareholders, investors and other stakeholders from management, customers, suppliers, regulators and other relevant government agencies, and for the community, taking into account the three dimensions of sustainability (socio-environmental and economic).

The Board of Directors and Executive Management are constantly emphasizing the importance of adhering to governance controls as an effective means to develop the concepts of transparency, integrity, control and high professional performance. This report confirms the extent of the bank’s commitment to the provisions and principles of corporate governance in accordance with the laws, regulations, requirements and instructions of the regulatory and regulatory authorities such as the Saudi Central Bank (SAMA) and the Capital Market Authority (CMA), and accordingly, the bank’s governance documents and updates have been approved, and the most prominent of what has been done in this regard during the year 2 202AD is the update of many of the Documents to comply with the updates of the regulations and instructions, and their approval, whether from the Board of Directors or from the General Assembly as required by the laws and regulations for approval, such as updating the Audit Committee Regulations, the policy of rules and controls for nomination and appointment in the Board of Directors and its committees, the replacement policy for the members of the Board of Directors and its committees, b. The recommendation of the Board of Directors to the General Assembly, and the Board of Directors also approved the formation of a new committee of executive management committees The “Information Technology Committee”, and the adoption of its bylaws, in accordance with the requirements of the Information Technology Framework issued by the Saudi Central Bank and in accordance with the conditions of formation, membership, tasks and responsibilities specified in the framework and the relevant documents and controls.

The Board of Directors and its committees are constantly working to follow up on the executive management to ensure its permanent and effective commitment to the implementation of these regulations and policies.