Enterprise Risk Management

Enterprise risk management is a process, effected by an entity’s board of directors, management and other personnel, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives.

Enterprise Risk Management information

• Enterprise Risk Management Structure

• Risk Management Committee and responsibilities

The Risk Management Committee consists of 4 directors, with one independent director or external expert and with a directorship term of 3 years.

The Risk Management Committee consist of:

The Risk Management Committee had fulfilled the responsibility that was approved by the Board of Directors as follows:

“Supporting the Board of Directors in setting Risk Management Policy and acceptable risk level, establishing risk management profile to align with the Risk Management Policy, following the compliance, reviewing the effectiveness of risk management profile, presenting the Company’s overall risks, measures and results to the Board of Directors as well as considering and reviewing Risk Management Report and performing to ensure that the Company’s risk management is adequate and appropriate, can be managed in acceptable level and is performed continually”.