Corporate Governance
Petro Rabigh is committed to having efficient and effective corporate governance principles and practices and believes in the importance of enhancing the Company’s value addition, regulatory and ethical compliance, business excellence and sustainable performance. Petro Rabigh has developed a corporate governance framework which sets out Board oversight and Management direction.
Management is responsible for the governance processes, their workings, and their results. The governance- operating model assists the Board and Management in fulfilling their governance roles. It enables the Board and the Executive Leadership to organize the governance structure and the mechanisms by which governance is implemented to achieve the Company’s vision and mission.
Saudi Arabia Corporate Governance Standard
In the beginning of the year 2012, the Capital Market Authority issued a resolution to gradually apply corporate governance standards and requirements on all companies in the Saudi capital market, whether they were listed companies or licensed Authorised Persons. This is part of CMA's efforts to raise the quality, transparency and disclosure levels in the securities business sector in order to create a suitable investing environment. Petro Rabigh is committed to ensure adherence and compliance with CMA Corporate Governance Standards through the Company’s Governance & Compliance Frameworks.
| Internal Audit
Internal Audit plays critical assurance and advisory roles to the Company’s Board and Management. It is responsible for the independent evaluation of the adequacy and effectiveness of internal controls in the Company and for investigating any breach of its ethical standards. | General Auditor
The General Auditor Hotline provides a secure and confidential method for anyone to report suspected fraud, unethical conduct, or business irregularities related to Petro Rabigh business. Petro Rabigh provides several channels (mail, email or fax) for raising these concerns. Please use the channel below that is most comfortable for you. PO Box 101, Rabigh 21911, Building 200
Kingdom Of Saudi Arabia
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Business Ethics and Code of Ethics
The Business Ethics and Code of Ethics ensures that the Company’s Directors, Officers, and Employees act ethically and honestly at all times and act in the best interest of the Company, comply with applicable legal requirements, and are not influenced by undue personal interests when making business judgments and decisions on behalf of the Company. This Policy sets forth the Company’s policies and procedures governing the identification, disclosure, review, and approval of conflicts of interest and potential conflicts of interest, whether direct or indirect, in the transactions or contracts concluded for the Company by its Directors, Officers, and Employees, as well as setting out guidelines for professional conduct and code of business ethics.
