The bank has consistently complied with the laws, regulations, requirements, and instructions set forth by these authorities, as evidenced by the issuance of its governance documents and regular updates. One of the significant events in 2023 AD was the revision of various documents to align with updated regulations and instructions.

These revisions were approved by either the Board of Directors or the General Assembly, as required by the rules and regulations for approval. For instance, the remuneration policy for the Board of Directors, its committees, and senior management was updated based on the Board of Directors’ recommendation to the Assembly.

The Board of Directors has approved updates to the Governance Manual and its appendix. Furthermore, a new executive management committee, the “Anti-Fraud Committee,” has been formed, and its rules have been implemented in accordance with the directives from the Central Bank of Saudi Arabia and the applicable documents and controls. The Board of Directors and its committees conscientiously oversee the executive management and its committees to ensure their continuous and effective compliance with the guidelines set forth in those documents, including regulations and policies.