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Corporate Governance

Waha Capital has a comprehensive corporate governance framework, modeled on international best practice

Waha Capital recognises that a strong commitment to a robust corporate governance framework is essential for its long-term prosperity. Accordingly, it has developed a comprehensive corporate governance framework which is modelled on international best practice and complies with all regulatory requirements.

This framework addresses the following:

  • Responsibilities of the Board and individual Directors
  • Terms of reference for each of the company’s Board Committees
  • Appropriate delegation of authority to Management
  • The company’s relationship with its shareholders
  • Internal controls, risk management and compliance functions
  • Rules relating to the appointment of external auditors
  • The company’s code of conduct
  • Share dealing policy applicable to Directors and employees.

Board of Directors

The Board provides strategic direction, management supervision and adequate controls with the ultimate objective of promoting the success and long-term value of the company. The Board comprises seven Directors, being six non-executive, independent directors and one executive director.

Board Committees

The company has the following Board Committees:

Executive Committee

Audit Committee

Nomination & Remuneration Committee

Internal Control, Risk Management and Compliance

The company’s Internal Control Department is responsible for the internal controls, risk management and compliance functions. These functions collectively ensure that the company is able to achieve its business objectives in a prudent manner, safeguarding the interests of the company’s shareholders and other stakeholders, while minimizing key risks such as fraud, unauthorised business activity, misleading financial statements, uninformed risk-taking, or breach of legal or contractual obligations.

External and Internal Auditors

Waha Capital's external auditor is Deloitte & Touche (M.E.). The company also has an internal auditor whose role is to support Waha Capital's internal control, risk management and compliance functions, through regular internal audits and risk assessments.

Corporate Governance Report

Further information on the company’s corporate governance framework and practices is set out in the company’s Corporate Governance Report for 2015, which is available on the link below:

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