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.
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 of seven directors, six of whom are non-executive directors with the majority being independent.
The company has the following Board Committees:
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.
Waha Capitals external auditor is Ernst & Young. The company also has an internal auditor whose role is to support Waha Capitals internal control, risk management and compliance functions, through regular internal audits and risk assessments.
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: