Corporate Governance Policies

A list of policies created and designed to ensure good governance practices and to indicate the Company’s commitment to the highest ethical standards.

The Company recognizes the importance of its responsibilities towards its Stakeholders. The purpose of this Policy is to identify key Stakeholders and to establish principles regarding the relationship between the Company and its Stakeholders.
The Company understands the importance of meeting the expectations of its Stakeholders and envisages the kind of open, honest communication that fosters trust and cooperation.

The Company is committed to the highest standards of ethics, as well as to full compliance with both the letter and the spirit of all applicable Saudi securities rules and regulations issued by the Capital Market Authority. To that end, the Conpany’s board of directors has adopted this Policy, with respect to the trading of Company’s securities by a Restricted Person.
This Policy covers trading by all directors, senior executives and employees of the Company (including any senior executives and employees on secondment from other entities.

The purpose of this Policy is to regulate the nomination of the directors of the Company, the members of the committees, and the senior executives.

Renumeration

The purpose of this Policy is to regulate the renumeration of the directors of the Company, the members of the committees, and the senior executives.

Whistleblowing

The Company is committed to conducting its business with honesty and integrity, and it expects all staff to maintain high standards. However, all organizations face the risk of things going wrong from time to time, or of unknowingly harbouring illegal or unethical conduct. A culture of openness and accountability is essential in order to prevent such situations occurring or to address them when they do occur.

This Policy supports the establishment of a transparent, ethical, and compliance culture at the Company and aims to inform all of the Personnel and other Stakeholders of their responsibilities to report any actual or suspected non-compliance, impropriety, misconduct, malpractice or wrongdoing, or a breach of the Company’s policies.

Risk Management

The purpose of this Policy is to set out the rules for risk management in the Company, and defines the framework within which the Board and Executive Management monitor and manage the Company’s risk.

This Policy establishes minimum standards and takes precedence over any conflicting document or statement.

This Policy aims to ensure the Company’s compliance with the applicable laws, regulations and rules and is intended to implement and supplement the relevant provisions of the Company’s Bylaws. In case of conflict between this Policy and the Bylaws, the Bylaws shall prevail.

The Company aims to contribute to socially responsible activities and socially worthy causes. The purpose of this Policy is to set out the Company’s philosophy for delineating its responsibility as a good citizen, and the guidelines and mechanisms for the Company’s social responsibility activities and contributions, with the aim of striking a balance between the Company’s objectives and those of the local community, for developing the social and economic conditions of the local community.

 

Conflict of Interest and Business Ethics

The purpose of this Policy is the ensure 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 the applicable legal requirements; and are not influenced by undue personal interests when making business judgements and decisions on behalf of the Company.

This Policy sets forth the Company’s guidelines and procedures governing the identification, disclosure, review, and approval of comflicts 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.

Anti-bribery / Anti-corruption

Sets out the rules, procedures and controls related to complying with anti-corruption and anti-bribery laws worldwide.

      
Anti-money Laundering

Sets out the rules, procedures and controls related to compliance with anti-money laundering laws and with expectations for “know your customer” requirements.

     

Sanctions and Trade Controls

Sets out the rules, procedures and controls related to compliance with applicable economic sanctions and international trade controls.

     

3rd party Compliance

Sets out the rules, procedures and controls related to the Company’s expectations for third parties performing services for or on its behalf.

     

Hedging

This Policy is designed to reduce exchange rate risk exposure and minimize foreign currency losses.
 

Marketing Credit

The purpose of the Policy is to ensure that the proper procedure is followed to establish effective credit risk control in respect of granting credit lines to customers, and to optimize the Company’s cash flow in a secured manner.

     

Cash Management

This Policy governs the Company’s cash management control procedures and defines the basic framework by which the Company funds are to be managed.

     

Disclosure Controls and Procedures

This Policy sets out the rules, procedures and controls related to disclosure, pursuant to the disclosure requirements under relevant laws, regulations, and instructions.

The Company shall comply with applicable disclosure rules, requirements, and procedures under the relevant laws, regulations, regulations and rules, and this Policy.

     

Dividend Distribution

This Policy establishes a set of actions aimed to determine the parameters to distribute earnings among shareholders along with associated payment procedures and terms.

 

​ESG Sustainability

QHSES​​   ​

Antitrust

This Policy sits the rules, procedures and controls of compliance with all applicable antitrust laws and regulations in any jurisdiction the Company operates and conducts its business.