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:
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:
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 Ernst & Young. 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 2019, which is available on the link below: