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Corporate Governance
Good corporate governance is to conduct the affairs of Al Fahim Group in a manner that is consistent with best practice, legal requirements, ethics and the core values.
The concept of corporate governance can be thought of as:
The system by which organizations are directed and controlled. By definition corporate governance encompasses all processes, customs, policies, laws and even includes people and institutions which affect the way a corporation is administered, directed or controlled.
Accordingly in 2008, we formalized and aligned Al Fahim’s Corporate Governance framework to the UAE Securities and Commodities Authority (ESCA - Decision No. R/32, Corporate Governance Regulations for Joint-Stock Companies and Institutional Discipline Criteria) Regulations and implemented all material requirements ahead of the 2010 deadline, 2 years ahead of schedule.
The key elements driving corporate governance in Al Fahim are accountability, transparency and integrity and the key dimensions are as follows:
1. Commitment >
2. An Effective Board of Directors >
3. Effective Management Controls >
4. Committees >
5. Group Risk and Internal Audit Function >
6. Disclosure and Transparency >
7. Harmonious owner relations >
8. Code of Conduct >
9. Etisal Al Nazahah Ethics Hotline >
The concept of corporate governance can be thought of as:
The system by which organizations are directed and controlled. By definition corporate governance encompasses all processes, customs, policies, laws and even includes people and institutions which affect the way a corporation is administered, directed or controlled.
Accordingly in 2008, we formalized and aligned Al Fahim’s Corporate Governance framework to the UAE Securities and Commodities Authority (ESCA - Decision No. R/32, Corporate Governance Regulations for Joint-Stock Companies and Institutional Discipline Criteria) Regulations and implemented all material requirements ahead of the 2010 deadline, 2 years ahead of schedule.
The key elements driving corporate governance in Al Fahim are accountability, transparency and integrity and the key dimensions are as follows:
1. Commitment >
2. An Effective Board of Directors >
3. Effective Management Controls >
4. Committees >
5. Group Risk and Internal Audit Function >
6. Disclosure and Transparency >
7. Harmonious owner relations >
8. Code of Conduct >
9. Etisal Al Nazahah Ethics Hotline >
