Corporate Governance
Securities Group Company K.S.C.C
Corporate Governance Report
For the fiscal year ending March 31, 2023
Corporate Governance Report (708.7 KB)
Securities Group Company recognizes the significant role of Corporate Governance to regulate the activity of securities in a fair, competitive, transparent manner and to enhance the administrative efficiency of the company to stimulate the application of sound methodology in company management. This contributes to the development of the company, increasing profitability, and reduction of risks that the company is exposed to.
Rule 1: Construct a Balanced Composition.
The Board of Directors of Securities Group Company is composed in accordance with the company activity volume and nature, which the company considered in the formation of the Board of Directors to combine a variety of educational and professional experience and specialized skills, as well as their understanding and awareness of the company's activities.
Rule 2: Establish Appropriate Role and Responsibilities.
The Board of Directors seeks to achieve the Securities Group Company's objectives through clear separation between the specialization of the Board of Directors and executive management, through effective monitoring of executive management work, and pursuing the manager's performance.
Rule 3: Recruit Highly Qualified candidates for Members of the Board of Directors and the Executive Management.
The Board of Directors of Securities Group Company formed a specialized committee (Nominations and Remuneration) to prepare recommendations regarding Board of the Directors and Executive management member's candidates.
Rule 4: Safeguard the Integrity of Financial Reporting
The Board of Directors of the Securities Group Company formed (Audit Committee) to ensure the independence and integrity of the External Auditor, and to enhance the shareholder's confidence in the data and information provided by the company.
Rule 5: Apply Sound Systems of Risk Management and Internal Audit
Risk Managers are independent through their subordination to the Risk Committee to enhance the efficiency of the company activities and evaluate the extent of commitment to supervisory measures.
Moreover, the Securities Group Company Board of Directors formed a Risk Committee specialized in applying Risk Department policy and procedures, particularly the company’s risk appetite.
Rule 6: Promote Code of Conduct and Ethical Standards
In reference to the significant role to establish the culture of code of conduct and ethical standards, the company developed a business charter including standards and determination of the code of conduct and ethical standards.
Rule 7: Ensure Timely and High-Quality Disclosure and Transparency
Accurate disclosure is one of the key features of the methods of monitoring the company's activities and evaluating its performance and increasing confidence and safety for Investors.
Rule 8: Respect the Rights of Shareholders
Securities Group Company ensures the consistency between the goals of both shareholders and the company management and promote the efficiency of the system that protects their basic right specified by the Companies Law, and it is Executive Bylaws and the articles of association of our company.
Rule 9: Recognize the Role of Stakeholders
Respecting and protecting the rights of Stakeholders according to the related applicable laws in the State of Kuwait, such as the Labor Law and the Companies Law and its Executive Bylaws in addition to the agreements concluded between parties and any additional undertakings made by our company towards stakeholders.
Rule 10: Encourage and Enhance Performance
Securities Group Company ensure to train of the Board Members and executive management to enhance the company's performance when the Board of Directors and the executive management fully exercise their roles and responsibilities.
Rule 11: Focus on the Importance of Corporate Social Responsibility.
Securities Group Company contributes to improving the living, social, and economic conditions for the workforce and families thereof, in addition to the entire society.