076
SAUDI TADAWUL GROUP077
ANNUAL REPORT 2021
SAUDI TADAWUL GROUP ANNUAL REPORT 2021 GOVERNANCE GOVERNANCE
Highlights of the Group
006
Chairperson’s statement
014
CEO’s review
016
The IPO
019
A hand on the tiller
023
Operation review
038
Governance
068
Financial statements
119
Supplementary
182
Highlights of the Group
006
Chairperson’s statement
014
CEO’s review
016
The IPO
019
A hand on the tiller
023
Operation review
038
Governance068
Financial statements
119
Supplementary 182 Mr. Youssef Abdullah Mohammed Al-Benyan
Member – Independent
Current Positions y Non-Executive Director, SABIC Agri-Nutrients Company, a Saudi Listed Joint Stock Company.
y Vice Chairman, Saudi Basic Industries Corporation (SABIC), a Saudi Listed Joint Stock Company.
y Investment Committee Member, Saudi Basic Industries Corporation (SABIC), a Saudi Listed Joint Stock Company.
y Non-Executive Chairman, SABIC Investment and Local Content Development Company (Nusaned Investment), a Saudi Closed Joint Stock Company.
y Non-Executive Director, Saudi Information Technology Company (SITE), a Saudi Closed Joint Stock Company.
y Remuneration and Nomination Committee Chairman, Saudi Information Technology Company (SITE), a Saudi Closed Joint Stock Company.
y CEO, Saudi Basic Industries Corporation (SABIC), a Saudi Listed Joint Stock Company.
Previous Positions y Non-Executive Chairman, Yanbu National Petrochemical Company (Yansab), a Saudi Listed Joint Stock Company.
y Non-Executive Chairman, Saudi Iron and Steel Company, a Saudi Limited Liability Company.
y Director, Power and Water Utility Company for Jubail and Yanbu (Marafiq), a Saudi Closed Joint Stock Company.
y Chairman, Saudi Yanbu Petrochemical Company (YANPET), a Saudi Listed Joint Stock Company.
y Chairman, Al-Jubail Petrochemical Company (Kenya), a Saudi Limited Liability Company.
y Executive Vice President of Corporate Finance, Saudi Basic Industries Corporation (SABIC), a Saudi Listed Joint Stock Company.
y Executive Vice President of Petrochemicals, Saudi Basic Industries Corporation (SABIC), a Saudi Listed Joint Stock Company.
078
SAUDI TADAWUL GROUP079
ANNUAL REPORT 2021
SAUDI TADAWUL GROUP ANNUAL REPORT 2021 GOVERNANCE GOVERNANCE
Highlights of the Group
006
Chairperson’s statement
014
CEO’s review
016
The IPO
019
A hand on the tiller
023
Operation review
038
Governance
068
Financial statements
119
Supplementary information
182
Highlights of the Group
006
Chairperson’s statement
014
CEO’s review
016
The IPO
019
A hand on the tiller
023
Operation review
038
Governance068
Financial statements
119
Supplementary information
182 Previous Positions y Non-Executive Director, Arab Federation of Exchanges, a non-profit Arab federation of capital
markets in Lebanon.
y Audit Committee Member, Tadawul Real Estate Company, a Saudi Limited Liability Company.
y Regulatory Policy and Oversight Committee Member, Saudi Tadawul Group (formerly known as Saudi Stock Exchange (Tadawul), a Saudi Listed Joint Stock Company.
y Advisory Committee Member, Capital Markets Authority (CMA), a Saudi Government entity.
y Acting Executive Director, Saudi Tadawul Group (formerly known as Saudi Stock Exchange (Tadawul), a Saudi Listed Joint Stock Joint Stock Company.
y Chief of Markets, the Company Saudi Tadawul Group (formerly known as Saudi Stock Exchange (Tadawul), a Saudi Listed Joint Stock Company.
y Chief of Assets and Deposit, the Company Saudi Tadawul Group (formerly known as Saudi Stock Exchange (Tadawul), a Saudi Listed Joint Stock Company.
y Chief of Strategy, the Company Saudi Tadawul Group (formerly known as Saudi Stock Exchange (Tadawul), a Saudi Listed Joint Stock Company.
y General Manager of Strategy, Company for Cooperative Insurance (Tawuniya), a Saudi Listed Joint Stock Company.
Ms. Rania Mahmoud Abdulwahab Nashar
Member - Non-executive (a representative of Public Investment Fund “PIF”)
Current Positions y Non-Executive Director, Saudi Telecom Company (STC) a Saudi Listed Joint Stock Company.
y Director, The National Center for Performance Measurement (Adaa), a Saudi government entity.
y Director, Saudi Space Commission, a Saudi government entity.
y Director, Saudi Polo Federation, a Saudi sport federation.
y Risk Committee Chairman, Saudi Telecom Company (STC), a Saudi Listed Joint Stock Company.
y Remuneration and Nomination Committee Member, Saudi Telecom Company (STC), a Saudi Listed Joint Stock Company.
y Audit Committee Chairman, The National Center for Performance Measurement (Adaa), a Saudi government entity.
y Head of Compliance and Governance, Public Investment Fund (PIF), a Saudi government fund.
y Audit Committee Chairman, Future Investment Initiative Institute, a Saudi non-profit civil institution.
y Executive Committee Member, Saudi Space Commission, a Saudi government entity.
y Remuneration and Nomination Committee Member, Saudi Space Commission, a Saudi government entity.
y Audit Committee Member, Saudi Space Commission, a Saudi government entity.
y Governor Advisor, Public Investment Fund (PIF), a Saudi government fund.
Eng. Khalid Abdullah Nasser Al-Hussan Member - Executive
Current Positions y Non-Executive Chairman, Securities Clearing Center Company (Muqassa), a Saudi Closed Joint Stock Company.
y Non-Executive Chairman, Saudi Exchange Company, a Saudi Closed Joint Stock Company.
y Non-Executive Chairman, Securities Depository Center Company (Edaa), a Saudi Closed Joint Stock Company.
y Non-Executive Chairman, Tadawul Advanced Solutions Company (WAMID), a Saudi Closed Joint Stock Company.
y Non-Executive Director, World Federation of Exchanges, a non-profit global federation of capital markets in the UK.
y Non-Executive Chairman, Arab Federation of Exchanges, a non-profit Arab federation of capital markets in Lebanon.
y Non-Executive Director, Tadawul Real Estate Company, a Saudi Limited Liability Company.
y Regulatory Policy and Oversight Committee Member, Securities Clearing Center Company (Muqassa), a Closed Joint Stock Company.
y Compliance Committee Member, Securities Clearing Center Company (Muqassa), a Saudi Closed Joint Stock Company.
y Information Technology Committee Member, Securities Clearing Center Company (Muqassa), a Saudi Closed Joint Stock Company.
y Regulatory Policy and Oversight Committee Member, Saudi Exchange Company, a Saudi Closed Joint Stock Company.
y Compliance Committee Member, Saudi Exchange Company, a Saudi Closed Joint Stock Company.
y Information Technology Committee Member, Saudi Exchange Company, a Saudi Closed Joint Stock Company.
y Regulatory Policy and Oversight Committee Member, Securities Depository Center Company (Edaa), a Saudi Closed Joint Stock Company.
y Compliance Committee Member, Securities Depository Center Company (Edaa), a Saudi Closed Joint Stock Company.
y Information Technology Committee Member, Securities Depository Center Company (Edaa), a Saudi Closed Joint Stock Company.
080
SAUDI TADAWUL GROUP081
ANNUAL REPORT 2021
SAUDI TADAWUL GROUP ANNUAL REPORT 2021 GOVERNANCE GOVERNANCE
Highlights of the Group
006
Chairperson’s statement
014
CEO’s review
016
The IPO
019
A hand on the tiller
023
Operation review
038
Governance
068
Financial statements
119
Supplementary
182
Highlights of the Group
006
Chairperson’s statement
014
CEO’s review
016
The IPO
019
A hand on the tiller
023
Operation review
038
Governance068
Financial statements
119
Supplementary 182 Mr. Hashem Othman Ibrahim Al Hekail
Member - Independent
Current Positions y Independent Director, Derayah Financial, a Saudi Closed Joint Stock Company.
y Audit Committee Chairman, Derayah Financial, a Saudi Closed Joint Stock Company.
y Chairman, BWA Information Technology Company, a Saudi Closed Joint Stock Company.
y Director, HyperPay Inc, a Closed Joint Stock Company in the British Virgin Island.
Previous Positions y Independent Director, Bayan Payments Limited, a Saudi Limited Liability Company.
y Deputy Governor, Saudi Central Bank, the central bank of the Kingdom of Saudi Arabia y Co-Director, Derayah Financial, A Saudi Closed Joint Stock Company.
Mr. Xavier Rolet
Member - Non-executive (a representative of Public Investment Fund “PIF”)
Current Positions y Chairman and CEO, World Quantum Growth Acquisition Corp, NYSE-Listed special purpose acquisition company in the USA.
y Independent Non-Executive Director, Golden Falcon Acquisition Corp, NYSE-Listed special purpose acquisition company in the USA.
y Non-Executive Director, Tadawul Advanced Solutions Company, a Saudi Closed Joint Stock Company.
y Independent Non-Executive Director, Seplat Petroleum Development Company, a Joint Stock Company listed in London and Nigeria.
y Corporate Portfolio External Director, Public Investment Fund (PIF), a Saudi Government entity.
y Nomination and Remuneration Committee Chairman, Seplat Petroleum Development Company, a Joint Stock Company listed in London and Nigeria.
y Expert advisor, Shanghai Institute of Finance for the Real Economy, a Government Institute.
y Managing Partner, Grayling Centennial LLC, a Limited Liability Company in the USA.
y Member, Centennial Valley Association, a non-profit organization in the USA, a non-profit organization in the USA.
y Director, SAS La Verriere Company, a Simple Joint Stock Company (outside the Kingdom).
y Board of Advisors Member, Ranchlands in the USA.
y Director, Columbia Business School, a Business College in the USA.
y Partner, SCI La Verriere, a real estate investment company, a partnership (outside the Kingdom).
y Partner, SCEA Domaine de la Verriere, a partnership (outside the Kingdom).
Previous Positions y Non-Executive Vice Chairperson, Samba Capital & Investment Management Company, a Closed Joint Stock Company.
y CEO, Samba Financial Group (currently known as Saudi National Bank), a Saudi Listed Joint Stock Company.
y Audit Committee Member, Samba Bank Limited, a Listed Joint Stock Company in Pakistan.
y Remuneration and Nomination Committee Member, Samba Bank Limited, a Saudi Listed Joint Stock Company in Pakistan.
y Chief of Audit and Executive Review, Samba Financial Group (currently known as Saudi National Bank), a Saudi Listed Joint Stock Company.
y Chief of Compliance, Samba Financial Group (currently known as Saudi National Bank), a Saudi listed joint stock company.
y Director, Samba Global Markets Limited, a Limited Liability Company in Cayman Island.
y Non-Executive Director, Samba Bank Limited, a Listed Join Stock Company in Pakistan.
Mr. Sabti Sulaiman Al-Sabti
Member - Non-executive (a representative of Public Investment Fund “PIF”)
Current Positions y Independent Director, Zakat Tax and Customs Authority, a Saudi Government Entity.
y CEO, Riyad Capital, a Saudi Closed Joint Stock Company.
Previous Positions y CMA Deputy for Listed Companies & Investment, Capital Markets Authority (CMA), a Saudi government authority.
Mr. Mark Stephen Makepeace
Member - Non-executive (a representative of Public Investment Fund “PIF”)
Current Positions y Vice Chairman and CEO, Monica Top GP (Cayman) (Wilshire Global Advisors), a Limited Liability Company.
y Independent Director, Singapore Exchange, the Capital Market of Singapore.
y CEO, Wilshire Global Advisors, a Limited Liability Company, in the US and Europe.
y Non-Executive Vice Chairman, Tadawul Advanced Solutions Company (WAMID), a Saudi Closed Joint Stock Company.
y Chairman and Owner, M8R LIMITED, a Limited Liability Company (outside the Kingdom).
Previous Positions y Executive Information Services Director, London Stock Exchange Group, a British securities company in the UK.
y CEO, FTSE Russell, a Limited Liability Company in the UK.
082
SAUDI TADAWUL GROUP083
ANNUAL REPORT 2021
SAUDI TADAWUL GROUP ANNUAL REPORT 2021 GOVERNANCE GOVERNANCE
Highlights of the Group
006
Chairperson’s statement
014
CEO’s review
016
The IPO
019
A hand on the tiller
023
Operation review
038
Governance
068
Financial statements
119
Supplementary information
182
Highlights of the Group
006
Chairperson’s statement
014
CEO’s review
016
The IPO
019
A hand on the tiller
023
Operation review
038
Governance068
Financial statements
119
Supplementary information
182