Board Subcommittees

Executive Committee:

The Executive Committee of Bank Aljazira comprises of five members chosen by the Board of Directors, it is the responsibility of the Executive Committee, in accordance with the delegated powers, to monitor the implementation of the strategy and policies set by the Board of Directors, risk management and control of the Bank’s performance, recommend the balance sheet and action plan submitted for the fiscal year, and ensure proper implementation of the policies of the Board of Directors, in addition to monitoring the efficiency of internal control standards and policies implementation.

Audit Committee:

This committee plays a key role in helping the Board of Directors to meet its supervisory duties in respect of the integrity of the Bank's Financial Statements and the independency and qualifications of auditors, it comprises of three to five members, but there has to be a specialist among the members in in finance and accounting. Effectiveness of disclosure controls and procedures, effectiveness of internal audit and the external auditors, adequacy of the Bank's internal accounting systems and financial controls, bank's commitment to the ethical policies and regulatory and supervisory requirements in addition to management of risks and compliance and control activities in the bank.

Nomination and Remuneration Committee:

The Nomination and Remuneration Committee is a Board subcommittee. It comprises of three to five members. Its functions and responsibilities are concentrated in recommending nominations to the Board of Directors as per the approved policies and standards, performing annual reviews on the skills required for the membership of the Board of Directors, performing reviews of the Board of Directors' structure and recommending those changes that can be carried out. The Committee is also responsible for ensuring the independence of independent members and non - existence of any conflict of interests if any Director of the Board is also a member in any other company's board of directors, ensuring recommended appointment is commensurate with the proper skills and required qualifications, and development and review of remuneration of directors and senior executives.

Risk committee:

This committee comprises of three to five members assisting the Board of Directors in fulfilling the responsibilities of overseeing the risks in the Bank's businesses and controls. Its duties and responsibilities are focused in the supervision and control. It reviews the ability of the Bank to manage and undertake risks based on appropriate analysis and formulation of appropriate risk management policies. It also approves the credit rating system in the bank and risk policies for assets and liabilities management as developed by the Assets and Liabilities Committee. The committee measures the exposures to financial risks and other significant exposures and the steps taken by management to monitor, control and report cases of risks, including, but not limited to, review of credits, market, liquidity, reputational, operational, fraud and strategic risks in addition to evaluating exposures, tolerance levels and approval of appropriate transactions or commercial restrictions. The committee reviews the scope of the risk management and the targeted activities related to the activities of the Bank's risk management.

Sustainability and Social Responsibility Committee:

This committee comprises of three members from both within and outside of the Board. This committee plays an important role in assisting the Board of Directors in the fulfillment of its social responsibilities related to the 'Khair AlJazira le Ahl Aljazira' program. It is responsible for the formulation of policies and procedures related to the activities and social responsibility programs, adoption of the annual budget for 'Khair Aljazira le Ahl Aljazira' program, approval of the annual plan for the program, creating solutions for the obstacles that might hinder the social responsibility programs and reviewing the objectives of the program through highlighting the bank's role in the community service. It also contributes and participates actively in many social responsibility programs in the Kingdom, builds cooperation and communication between the bank and the authorities related to those programs and the establishment of specific partnerships with associations and charities in the kingdom which contribute to highlight the role of the private sector in enhancing the process of social responsibility. The Committee also strives to create an appropriate environment to help the youth and rehabilitate them for the market, and it provides distinctive programs for rehabilitating disabled people. The Committee of the 'Khair Aljazira le Ahl Aljazira' program reports annually to the Board of Directors about the activities and programs of 'Khair Aljazira le Ahl Aljazira' program.