SALICHOME > Responsibility > Governance, Risk and Compliance

Governance, Risk and Compliance
​​In SALIC, we are highly aware of the importance of corporate governance as it safeguards the principles of integrity, transparency and efficiency in the company’s operations. SALIC’s governance policy, risk management and compliance are solidly based on six principles:

  1. 1. The Board of Directors plays a leading role in policy making that defines the business strategy and organizational development in SALIC. It has appointed Board Committees in order to assist the Board in carrying out its responsibilities.
  1. 2. The Board appoints external auditors of good reputation in order to audit and review the company's financial state of affairs.
  1. 3. The Board monitors and strengthens the role of the internal audit process in order to ensure appropriate internal control systems.
  1. 4. The Board requires full compliance with all laws that govern the activities of the company, including those of the Board of Directors and the Executive Management.
  1. 5. The Board supervises the adoption and development of business rules and associated professional practices. These include, but are not limited to, the rules of SALIC’s investment policy, its internal administrative system and the rules and regulations in respect of procurement, in addition to the adoption and control of SALIC’s separation of authorities.
  1. 6. The Board ensures the development and implementation of an integrated risk management policy in SALIC on the basis of activating risk identification, defense measures and internal control systems in line with the requirements of our business operations.