Naif Abdullah Al-Rajhi have an indirect interest, which is insurance policies and to be licensed for the next year without conditions or preferential advantages, emphasizing that the value of transactions during 2021 has reached 709,180 SR. Naif Abdullah Al-Rajhi have an indirect interest, which are insurance policies, and to be licensed for the next year without conditions or preferential advantages, noting that the value of transactions during 2021 has reached 3 thousand Riyals.
Approval of the amendment of Article No. (21) of the Company’s Articles of Association relating to Board meetings
Approval of the amendment of Article No. (22) of the Company’s Articles of Association relating to the quorum for the board meeting
Approval of the amendment of Article No. (24) of the Company’s Articles of Association relating to agreements and contracts
Approval of the amendment of Article No. (25) of the Company’s Articles of Association relating to attendance of assemblies
Approval of the amendment of Article No. (26) of the Company’s Articles of Association relating to the Constituent Assembly
Approval of the amendment of Article No. (27) of the Company’s Articles of Association relating to the competences of the constituent assembly
Approval of the amendment of Article No. (28) of the Company’s Articles of Association relating to the competences of the Ordinary General Assembly
Approval of the amendment of Article No. (30) of the Company’s Articles of Association relating to inviting assemblies
Approval of the amendment of Article No. (32) of the Company’s Articles of Association regarding the quorum of the Ordinary General Assembly meeting
Approval of the amendment of Article No. (33) of the Company’s Articles of Association regarding the quorum of the extraordinary general assembly meeting
Approval of the amendment of Article No. (39) of the Company’s Articles of Association regarding the appointment of the auditor
Approval of the amendment of Article No. (41) of the Company’s Articles of Association regarding the obligations of the auditor
Approval of the amendment of Article No. (43) of the Company’s Articles of Association relating to financial documents
Approval of the amendment of Article No. (45) of the Company’s Articles of Association relating to Zakat and reserves
Naif Abdullah Al-Rajhi has indirect interest, which are insurance policies, to be licensed for the next year without conditions or preferential advantages, emphasizing that the value of transactions during 2020 has reached 1,154 thousand rials. Naif Abdullah Al Rajhi has an indirect interest, which is insurance policies, to be licensed for the next year without conditions or preferential advantages, emphasizing that the value of transactions during 2020 has reached 999 thousand rials.
Approval of the business and contracts between Al-Rajhi Cooperative Insurance Company (Al-Rajhi Takaful) and the Saudi Waterproofing Company, in which the Chairman of the Board of Directors Mr
Naif Abdullah AlRajhi has an indirect interest, namely insurance policies, to obtain a license for a coming year without any preferential conditions or benefits, noting that the value of transactions during the year 2020 amounted to 41,000 riyals. Naif Abdullah Al-Rajhi has an indirect interest, namely insurance policies, to obtain a license for a coming year without any preferential conditions or benefits, noting that the value of transactions during the year 2020 amounted to 189 thousand riyals.
Approval of the business and contracts that will take place between Al-Rajhi Cooperative Insurance Company (Al-Rajhi Takaful) and the Green Vision Company, in which the Chairman of the Board of
Approval of the business and contracts between Al-Rajhi Cooperative Insurance Company (Al-Rajhi Takaful) and the Gulf Company for Packaging Industry Ltd., in which the Chairman of the Board of
- The Company signed a contract with Al Rajhi Bank to provide insurance coverage to the clients of the real estate finance portfolio
- Contract awarding with the Social Development Bank to provide life insurance services for loan portfolio and motor insurance
- Renewing the contract of Abdul Latif Jameel United Finance Company Limited and United Installment Sales Company Limited to provide motor insurance services, the value of which
- Contract sign-off with Al Rajhi Bank to pracitce bank insurance business
The company has signed a contract with Al Rajhi Bank to provide insurance cover to the clients of the real estate finance portfolio. Renewal of the contract of Abdul Latif Jameel United Finance Company Limited and United Installment Sales Company Limited to provide motor insurance services, the value of which Installment Sales Company Limited provides motor insurance services, the value of which exceeds 5% of the company's gross written premiums for the fiscal year 2021, for a period of one year from 01/01/2022.
- Approval of the election of the following candidates for the Board of Directors for the current session, which started on 30/05/2021 for a period of three years ending on 29/05/2024
- Abdullah Sulaiman Al Rajhi
- Naif Abdullah Al-Rajhi 5. Waleed Abdullah Al Mogbel
- Approval of the formation of the Audit Committee, defining its tasks, its work controls, and the remuneration of its members for the new session, which began on 30/05/2021 and ends on
- Nabil Ali Shoaib – Chairman
- Description of major types of activities, plans, decisions and future expectations for the company's business
Award of contract with the Social Development Bank to provide life insurance services for loan portfolio and car insurance.
Outcomes of the company's sectors for the year 2021 in thousands of Saudi riyals
Income Statement – Policyholders General Vehicles Health Protection and savings
Total Total subscribed Takaful
Net subscribed Takaful
Management fees related to
Management fees related to the operating activities of the
91,064) Net distributable surplus for
The impact of these main activities on the company's business volume in thousands Saudi riyals and its contribution to the results is detailed as follows
Type of insurance Gross Written Premium Percentage %
Description of significant schemes, decisions, future expectations and risks of the company's business In line with the general strategy of the company and the directives of the Board of Directors, the company’s
The Human Resources Department was also concerned with the recruitment of competencies to support the technical and administrative company staff, along with meeting the rates set by the regulatory authorities regarding Saudization by virtue of a well-informed plan , with its application at all. administrative levels of the company.
Financial Outcomes
6-1 List of Assets and Liabilities as in
6-2 List of Takaful Operations' outcomes
Total subscribed Takaful
Management fees for managing Takaful
Management fees related to the
Auditors' reservations on the annual financial statements
The auditors' report clarifies that the financial statements are free of material errors and there are no reservations against such financial statements. Geographical analysis of the company's and its subsidiaries' revenues outside the Kingdom of Saudi Arabia.
Geographical analysis of the revenues of the company and its subsidiaries outside the Kingdom of Saudi Arabia
Region Subscribed premiums in thousands Saudi riyals Central 2,531,339
- Operating Results and fundamental differences
- The net profit before calculating Zakat during the year 2021 is 115,383 thousand Saudi riyals, compared to the net profit before Zakat, which amounted to 251,846 thousand Saudi riyals for the previous year,
- Profitability per share during the year 2021 amounted to 64 Saudi riyals, compared to the sum of 5.68 Saudi riyals per share for the previous year, with a decrease of 56.69%
- The surplus of insurance operations with deducing the investment income of policyholders (operating results) during the year 2021 was 42,353 thousand Saudi riyals, compared to an amount
- Accounting Standards applied to the financial statements
- Subsidiaries and their main activities
- Number of the company's requests for the shareholders' register, the dates and reasons for those requests
- Dividend Policy
- Saving Zakat and prescribed income tax;
- Cash dividends, which have to be distributed to shareholders, are deposited in their accounts connected to their investment portfolios, while the granted shares shall be deposited in shareholders ’investment
- When the decision to distribute interim profits is made, the company shall immediately disclose and declare thereof and provide the Authority with a copy of such decision upon its issuance
- Description of interest, and option, and subscription rights attributing to members of the Board, senior executives, their spouses and their minor children, in shares or debt instruments of the company or its
The number of company requests for the shareholder register, the dates and reasons for these requests. In addition, dividends will be paid to shareholders registered in the shareholder registers at the end of the specified maturity dates.
Name of the Board Member
Description of interests, options and subscription rights granted to members of the board, senior employees, their spouses and their minor children, in shares or debt instruments in the company or its senior employees, their spouses and their minor children, in shares or debt. instruments belonging to the company or its subsidiaries.
Position (Beginning of the period) (End of the period) Ownership percentage
Number of shares owned
Debt instruments
Number of owned
Debt
- Description of any interest, contractual papers and subscription rights belonging to senior executives and their relatives in the company's shares or debt instruments
- Description of any interest, contractual papers and subscription rights of the board members and their relatives in the shares or debt instruments of the subsidiary
- Description of any interest, contractual papers and subscription rights of senior executives and their relatives in the shares or debt instruments of the subsidiary
- A Brief on the Senior Executive Employees in the Company
There are no interest, contractual documents and subscription rights of the senior managers and their family members in the company's shares or debt instruments. There are no interest, contractual documents and subscription rights of senior managers and their family members in the shares or debt instruments of the subsidiary company.
- Meetings of Board of Directors
- Contracts with the related Parties
- No Board member shall be engaged in any lease contracts for the company, as naturally, some of the Board Directors are engaged in the insurance contracts, as the company provides its insurance
- No contracts shall be concluded between the Chief Executive Officer and Chief Financial Officer, or with any person related to any thereof excluding employment contracts
- During the fiscal year, there were some transactions where the company was a party, and it is for the interest of some Board of Directors members
There are no shares, contractual or subscription rights of members of the management board and their relatives in the shares or debt instruments of the subsidiary company. Description of all interests, contractual documents and subscription rights of senior executives and their relatives in the shares or debt instruments of the relatives of the subsidiary company in the shares or debt instruments of the subsidiary company.
Amount (SR ‘000)
During the financial year there were some transactions where the company was a party, and this is for the interest of some Board of Directors members. Below are the details of the most important transactions with the related parties during the period from 1/1/2021 to as detailed in the financial statement notes.
ConditionsContract
No board member will be involved in any leases for the company as some of the board directors are of course involved in the insurance contracts as the company provides its insurance. Board directors are involved in the insurance contracts, as the company provides its insurance. services for all social categories, in full compliance with the rules of the Saudi Central Bank. No contracts shall be concluded between the Chief Executive Officer and Chief Financial Officer, or with any person related to either, excluding employment contracts.
DurationActivity
Capacity Related Party
- Statutory Payments & Debts
- Investments or reserves for the benefit of company employees
- Declarations
- Corporate Governance Regulation
There are no convertible debt instruments and contractual securities, warrants or similar rights issued or granted by the Company during the fiscal year 2021. There are no redemptions, purchases or cancellations by the Company for redeemable debt instruments.
Article No. Article Reasons for non-enforcement of article
Sanctions and Penalties
Subject of Violation
Previous fiscal year 2020 Current fiscal year 2021 Number of
The total amount of
Number of executive
Ways to remedy the Central Bank violations
Other Violations
Authority
Amount of
Details of Violation Ways of Remedy
Announcement Subject Announcement Date 1 Al-Rajhi Cooperative Insurance Company announces the signing of a contract with Abdul Latif.
- A list of the dates of the general assemblies of shareholders held during the last fiscal year and the names of the members of the board of directors attending these assemblies
- Actions taken by the Board of Directors to inform its members - especially non-executives - of shareholders’ proposals and comments about the company and its performance
- Audit Committee’s recommendations that conflict with the decisions of the Board of Directors, or which the Board refused to take into account regarding the appointment and dismissal of the company
- Board of Directors
The secretary of the board of directors is responsible for accepting all proposals and notices about the company and its operations and forwarding them to the members of the board of directors for discussion at periodic meetings. The company is managed by an (8) member board of directors, which was reconstituted at the regular assembly on 5/30/2018 for a period of three years.
Executive Non-executive Independent
Names of companies inside or outside the Kingdom of which a member of the company board of directors is a member of its current and previous boards of directors or of its managers
About the BOD Members
Naser bin Abdullah Al Oufi: A member of the Board of Directors, Saudi national, holds a Bachelor’s Degree in Accounting from King Saud University in the Kingdom of Saudi Arabia in 1979, and a Master’s Degree in
Ali bin Hadi Al Mansour: Member of the Board of Directors, a Saudi national, holds a Bachelor's Degree in Finance from the University of North California in the United States of America in 2002, and a Master's Degree
Naif Bin Abdullah Al Rajhi: Member of the Board of Directors, Saudi national, holds an undergraduate degree in Financial Management from the University of San Francisco, United States of America in 2012. Balihad Bin Nasser Balihad: Member of the Board of Directors, Saudi national , holder of Bachelor Degree in Business Administration from Heritage College in United States of America in 1983, he currently holds.
Balihad Bin Nasser Balihad: Member of the Board of Directors, Saudi national, holder of Bachelor's Degree in Business Administration from Heritage College in the United States of America in 1983, he currently holds
Board of Directors’ Committees
He currently holds various positions including CEO of Fursan Travel Company, Managing Director and Vice Chairman of the Board of Directors of Digital Trip Ltd Company, Member of the Board of Directors of Takatuf Holding Company, Fursan Travel, Farabi Petrochemical Company and Saudi Event Management & Marketing Company (SEMARK) and Marami Food Industries Company. In addition, he is the Vice Chairman of the Board of Directors of the Riyadh Chamber and Chairman of the Tourism Committee in the Riyadh Chamber and Chairman of the Tourism Committee of the Council of the Saudi Chamber.
Executive Committee
He currently holds Financial Management from the University of San Francisco, United States of America in 2012.
Executive Committee
Waleed Bin Abdullah Almogbel: Executive Committee member, a Saudi national, holds a Bachelor's Degree in Accounting from King Saud University in the Kingdom of Saudi Arabia, in 1995, a Master Degree in Financial
Investment Committee
Investment Committee
Brief on Investment Committee
Abdurrahman bin Abdullah Al-Fadda: Investment Committee member, Saudi national, holds a Bachelor's Degree in Electrical Engineering from King Fahd University of Petroleum and Minerals in the Kingdom of Saudi
Nomination and Remuneration Committee
The Committee performs its duties in accordance with its executive regulations, the most important: recommending to the Board of Directors to nominate for membership on the board or committees, or to hold management positions in accordance with the approved policies and criteria as well as the review annual meeting of the appropriate skill requirements for Board membership, reviewing the structure of the Board of Directors, identifying weaknesses and strengths and making recommendations on them, developing clear compensation and reward policies for board members and key executives of the company. In addition to raising the annual proposal to the Board of Directors of the Annual Budget for Rewards and Incentives for senior executives.
Brief on Nomination and Remuneration Committee members
Ahmed Samer bin Hamdi Al-Zaeem: Member of the Nomination and Remuneration Committee, Saudi national, holds a degree in Public Administration from the American University of Lebanon in 1987 AD, As.
Naif Bin Abdullah Al Rajhi: Nomination and Remuneration Committee member, a Saudi national, holds a Bachelor's Degree in Financial Management from the University of San Francisco, United States of America
Audit Committee
Present Present Present Present Present Present Present Present Present Present Present Present Present Present Present Present Present Present mungon.
Brief on Members of Audit Committee
Nasser bin Abdullah Al-Oufi: Member of the Board of Directors and Chairman of the Audit Committee, Saudi national, holds a Bachelor’s Degree in Accounting from King Saud University, Kingdom of Saudi Arabia in
Risk Management Committee
Brief on Risk Management Committee
Balihad bin Nasser Al-Balihad: Member of the Board of Directors, Saudi national, holds a Bachelor's Degree in Financial Management from Heritage College in the United States of America in 1983, he currently holds
Sharia Board
Yousef Abdullah Al-Shebaili, the board oversees the company's commitment to sharia provisions in all transactions, and supervision and verification of developing insurance products that comply with Islamic sharia, the board held six (5) meetings during 2021:.
Member
Meeting 147
Meeting 148
Meeting 149
Meeting 150
Meeting 151
Brief on Sharia Board members
No. Members of Sharia Board
Annual Remunerations
Meetings attendance
Details of Remuneration and Compensation for Board of Directors and Committees Members and Five Top Executives
First
Remunerations and compensation for members of the Board of Directors for the previous session expired 29/05/2021
Based on the remuneration policy for members of the committees stemming from the Board of Directors
Second
Remunerations and compensation for members of the Board of Directors for the current session started 30/05/2021
Mechanisms for determining and paying remunerations and compensations
Remunerations and compensations for top executives: The remuneration is calculated based on the annual appraisal and company's outcomes based upon the targets set at the beginning of the
Description Members of Board of Directors and Committees
Senior Executives including CEO and Chief Financial Officer
Remunerations of members of the Board of Directors from 01/01/2021 to 29/05/2021 (Previous Session) Independent members
Remunerations of members of the Board of Directors from 01/01/2021 to 29/05/2021 (Current Session) Independent members
Remunerations of Committees’ Members
Committees’ Members
Executive Committee
Investment Committee
Nomination & Remuneration Committee
Audit Committee
Risk Commitee
- Waiver of interests by shareholders, board members, or senior executives
- Evaluation of the performance of the Board of Directors’ members and its committees
- Results of the annual review of the effectiveness of the company's internal control procedures
- The Audit Committee's opinion on the adequacy of the company's internal control procedures
- External Auditors
The adequacy and effectiveness of the internal control system is checked by the internal audit department in accordance with the annual plan approved by the audit committee. The internal audit committee also reflects the effectiveness of the company's internal control procedures and did not make substantive comments on them.
Conclusion
The General Assembly held on approved the proposal of the Board of Directors based on the recommendation of the Audit Committee to appoint Chartered Accountants and Auditors Crowe Global / AlAzem, Alasdair, AlShaikh & Partners and AlKharashi & Co. for the joint role of auditors. for the financial statements of the company for the financial year 2021.
The Company's Auditors Report for the fiscal year 31/12/2021
Financial statements for the fiscal year ending on 31/12/2021
AL RAJHI COMPANY FOR COOPERATIVE INSURANCE (A SAUDI JOINT STOCK COMPANY)
FINANCIAL STATEMENTS TOGETHER WITH THE
INDEPENDENT AUDITORS’ REPORT FOR THE YEAR ENDED DECEMBER 31, 2021
INDEX
PAGE
Our responsibilities according to these standards are further described in the Auditor's responsibilities for auditing the financial statements section of our report. Other information includes the information in the company's annual report for 2021, but does not include the annual accounts and our audit report on this.
AL RAJHI COMPANY FOR COOPERATIVE INSURANCE (A SAUDI JOINT STOCK COMPANY)
10 2. BASIS OF PREPARATION
SAMA's Implementing Regulations require clear separation of the assets, liabilities, income and expenses of the takaful operations and the shareholder operations. When preparing the financial information at the corporate level in accordance with IFRSs, the balances and transactions of the takaful activities are aggregated and combined with those of the shareholder activities.
122. BASIS OF PREPARATION (continued)
- BASIS OF PREPARATION (continued)
- STANDARDS AND AMENDMENTS ISSUED
- STANDARDS AND AMENDMENTS ISSUED (continued)
- STANDARDS AND AMENDMENTS ISSUED (continued) IFRS 17 – Insurance Contracts (continued)
- Deferred policy acquisition costs (DPAC)
- Financial assets and liabilities Measurement methods
- SIGNIFICANT ACCOUNTING POLICIES
- Cash and cash equivalents
- Contributions and re-takaful/ reinsurance balances
- Re-Takaful/ Reinsurance
- Takaful contracts
- SIGNIFICANT ACCOUNTING POLICIES (continued) 6 Financial assets and liabilities (continued)
- Classification and subsequent measurement of financial assets
- SIGNIFICANT ACCOUNTING POLICIES (continued)
- Classification and subsequent measurement of financial assets (continued) Solely payments of principal and profit
- Derecognition of financial liabilities
- Derecognition of financial assets
- Classification and subsequent measurement of financial liabilities
- SIGNIFICANT ACCOUNTING POLICIES (continued) 6.2 Impairment of financial assets
- Claims
- Statutory deposit
- SIGNIFICANT ACCOUNTING POLICIES (continued) 7 Offsetting
- Property and equipment
Classification and subsequent valuation of debt instruments depend on: i) the Company's business model for managing the financial assets; and (ii) the contractual cash flow characteristics of the financial assets. Any gain or loss arising from derecognition of the asset (calculated as the difference between the net sales proceeds and the carrying amount of the asset) is recognized in the income statement when the asset is derecognised .
224.16 Takaful operations’ surplus payable
- Statutory reserves
- Zakat and income tax
- Payables to SAMA
- End of service benefits
- SIGNIFICANT ACCOUNTING POLICIES (continued) 11 Salvage and subrogation
- Liability adequacy test
- Foreign currencies
- SIGNIFICANT ACCOUNTING POLICIES (continued) 18 Revenue recognition
- Recognition of contribution and commission revenue
- Leases
- Seasonality of operations
- SIGNIFICANT ACCOUNTING POLICIES (continued) 21 Dividend distribution
- Segmental reporting
- SIGNIFICANT ACCOUNTING POLICIES (continued) 24 Leases (continued)
- CASH AND CASH EQUIVALENTS
- CONTRIBUTIONS AND RE-TAKAFUL / RE-INSURANCE BALANCES RECEIVABLE - NET Receivables comprise amounts due from the following
- CONTRIBUTIONS AND RE-TAKAFUL/ RE-INSURANCE BALANCES RECEIVABLE - NET (continued)
- RIGHT -OF-USE ASSETS- Receivable from Re-
- INVESTMENTS (continued)
Portfolio balance with Al Rajhi Capital at the end of the year Cash balance with Al Rajhi Capital. Year-end net Year-end gross minus: Impairment.
32Financial statement line item
33Financial statement line item
Stage 2 Stage 3 Total December 31, 2020
Stage 2 Stage 3 12-month
- INVESTMENTS (continued) e) Loss allowance
- TECHNICAL RESERVES
- Net outstanding claims and reserves
- Movement in unearned contributions
- Net outstanding claims and reserves (Continued)
- TECHNICAL RESERVES (Continued)
- Movement in unearned Re-takaful commission income SAR '000
- Movement in deferred policy acquisition costs
- COMMITMENTS AND CONTIGENCIES
- PAYABLE, ACCRUALS AND OTHER LIABILITIES SAR '000
- LEASE LIABILITIES
- PREPAYMENTS AND OTHER ASSETS SAR '000
- END OF SERVICE BENEFITS (EOSB) 1 General description
- Movement of defined benefit obligation
- FAIR VALUES OF FINANCIAL INSTRUMENTS
- FAIR VALUES OF FINANCIAL INSTRUMENTS (continued)
The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy for financial instruments measured at fair value. The fair values of financial assets that are not measured at fair value do not differ materially from their carrying values.
43Shareholders’ operations
- GENERAL AND ADMINISTRATIVE EXPENSESi) Level 3 fair values (continued)
- OPERATING SEGMENTS
- UNIT LINKED LIABILITIES AT FVSI
- SHARE CAPITAL
- CAPITAL MANAGEMENT
- EARNINGS PER SHARE (“EPS”)
The company paid 10% of the assessed amounts and appealed against the additional assessed amounts in full for those years. The Company's operations are subject to local regulatory requirements within the jurisdiction where it is incorporated.
53 Takaful
Statement of financial position
54 Takaful
- SUPPLEMENTARY INFORMATION (continued) 1 Statement of financial position (continued)
- SUPPLEMENTARY INFORMATION (continued) 3 Statement of comprehensive income
- SUPPLEMENTARY INFORMATION (continued) 4 Statement of cash flows (continued)
- FINANCIAL RISK MANAGEMENT
- Credit risk
- Credit risk (continued)
The company's management measures impairment based on 12-month expected credit losses for its financial assets that are subject to impairment. The company's financial assets with low credit risk meet the following requirements of IFRS 9 for impairment measurement using the 12-month expected 28.
61Financial statement line
FINANCIAL RISK MANAGEMENT (continued) 1 Credit risk (continued)
6328.1.1 Credit risk measurement (continued)
6428.1.1 Credit risk measurement (continued)
FINANCIAL RISK MANAGEMENT (continued) 2 Risk governance
- Risk management structure
Within the company, a cohesive organizational structure has been established for the identification, assessment, monitoring and management of risks. In order to minimize its financial exposure to potential losses due to large claims, the Company enters into contracts with other parties for the purpose of re-takaful.
FINANCIAL RISK MANAGEMENT (continued) 3 Risk management structure (continued)
- Risk management structure f) Credit risk
The Company has investment in the units of commodity fund (classified as FVSI) managed by a related party. The company has investments in the Saudi companies' shares listed on Tadawul (classified as FVOCI).
69g) Liquidity risk (continued)
70g) Liquidity risk (continued)
71g) Liquidity risk (continued)
Risk management structure (continued)
72g) Liquidity risk (continued)
7329. COMPARATIVE FIGURES
APPROVAL OF THE FINANCIAL STATEMENTS
Amending the Remuneration Policy for the Members of the Board of Directors and its
Committees
The updated Remuneration Policy for Members of the Board of Directors and its committees
REMUNERATION POLICY FOR THE BOARD OF DIRECTORS’
MEMBERS AND ITS COMMITTEES
- PURPOSE
- SCOPE
- POLICY
- CONTROLS AND REGULATIONS
- TERMS DETERMINING AND ORGANIZING THE REMUNERATION OF THE BOARD OF DIRECTORS’
- SUSPENSION OF REMUNERATION AND/OR ITS REIMBURSEMENT
- REFERENCES
3 Chairman and members of the Audit Committee SAR 100,000 4 Chairman or member of the Board of Directors. The company does not give any percentage of its net profit as reward to any of the Board of Directors.
Contracts and business with related parties
يلاملا ماعلا نع ةك شلل ةماعلا ةيعمجلل ةعجارملا ةنجل ريرقت ر2021
Chairman
Nabbel Hassan Shuaib
Member Mohammad Ali Al-
Mubarak
Fahad Mohammad Al- Fawaz
Signature : Signature : Signature
