Al Barakah Holding strongly emphasizes on maintaining the highest standards of corporate governance in business throughout all of its subsidiaries and facilities which is achieved through our Corporate Governance Framework.
Al Barakah Holding achieves its long term ambitions and sustainable shareholder value by developing a rigid and well-structured governance framework over the years supports the Board. This genuine framework aims to promote a viable and competitive business.
This has been built and maintained upon a carefully curated corporate culture, set of values and behaviors which Al Barakah Holding upholds both at the top and throughout the entire organization.
To ensure its effectiveness at every level, our internal risk management and auditing teams uphold regulatory compliance processes which dictate a strict transparency procedure for decisions and appropriate disclosures of interests, so that management and Directors are held accountable by shareholders.
Fostering the long-term growth and success of Al Barakah Holding is the Board’s primary responsibility. In support of this aim, the Board’s role is to provide entrepreneurial leadership within a framework of prudent and effective controls which enable risks to be assessed and managed. The Board is responsible for formulating the business strategy and ensuring that the necessary financial and human resources are in place to meet its objectives. It is also responsible for monitoring and reviewing the operating and financial performance of the Company.
The supreme responsibility of the Board and the authority it delegates to its Committees and management are outlined in a written terms of reference for the Board and each of the Committee delegates. The term of reference are diligently reviewed and revised, as appropriate, on an annual basis. During the year, the full set of Board, Committees and working groups’ terms of reference are revised and updated.