Board Mandate
The Board of Directors has a set of formal mandates that clearly outline its broad and significant responsibilities. These include appointing and developing management, strategic planning, monitoring financial performance, ensuring accurate financial reporting, risk management, oversight of policies and procedures, communications and reporting, and ensuring compliance with relevant laws and regulations.
The Board, along with Al Sulaymanyias’ management, is accountable to the shareholders and is committed to preserving and enhancing the company’s underlying value. Each member’s roles are clearly defined, with specific duties assigned to the Chief Executive Officer (CEO), General Director, Chairman, and individual committees.
To ensure that the company’s corporate governance practices align with its objectives, the company regularly assesses its governance processes and practices. The Chairman leads the management team and is responsible for developing a long-term corporate strategy that aligns with the company’s goals and objectives.
The Board follows clear and comprehensive guidelines to carry out its corporate governance responsibilities. These guidelines include reviewing, questioning, validating, and approving the strategies of each operating segment of the Company. By adhering to these guidelines, the Board ensures that the company’s governance practices are effective and consistent, and that the company operates in a manner that is transparent, accountable, and in the best interests of all stakeholders.
Code of Conduct and Business Principles
At Al Sulaymanyia, we are deeply committed to maintaining the highest standards of respect and integrity in all our business relationships and activities. Our ethical standards apply to every aspect of our business dealings, both internally and externally. We believe that our commitment to ethical conduct is vital to building and maintaining strong relationships with our customers, suppliers, competitors, and investors.
As a Board, we hold ourselves and our employees to the highest ethical standards. We believe that our directors, officers, and employees should always act ethically and with integrity, both in their professional and personal lives. To ensure that our CEO, General Director and executive officers meet these standards, we take all necessary steps to assure ourselves of their ethics and integrity. We also establish appropriate ethical conduct procedures to ensure that every member of our team follows our ethical standards.
Our Code of Business Conduct Policy is a comprehensive guide that outlines the expected standards of business conduct for all our employees. This policy sets the framework for our employees’ actions, which are framed by our Code of Conduct, Business Principles, and Values. Every year, every employee reaffirms their adherence to the policy in writing during their performance review. We believe that our commitment to ethical conduct is not a one-time event, but a continuous process that requires our ongoing attention and commitment.