SAIB | Corporate Governance

Corporate Governance at The Saudi Investment Bank is about promoting fairness, transparency and accountability by setting out the responsibilities of the Board, management and shareholders. More than just showing a further commitment to doing the right thing, good governance is a strong indicator of overall management capability and quality.

SAIB’s Guiding Principles of Corporate Governance and By Laws

Principle 1

The Board plays a key role in approving the vision, purpose and strategies of the Bank. It is accountable to the Bank’s shareholders as a whole and must act in the best interests of the Bank.

Principle 2

The Board sets the cultural and ethical tone for the Bank.

Principle 3

All Directors should exercise independent judgment and provide independent oversight of management.

Principle 4

The Board of Directors comprises an appropriate number of Directors who have the relevant and diverse range of skills, expertise, experience and background and who are able to effectively understand the issues arising in the Bank’s business. The Chairman of the Board is independent, with the role of the Chairman being separate from the role of the CEO.

Principle 5

The Board has an appropriate system of risk oversight and internal controls put in place.

Principle 6

Directors act diligently on an appropriately informed basis and have access to accurate, relevant and timely information.

Principle 7

The Board is responsible for the appointment of the CEO and the continuing evaluation of his performance.

Principle 8

The Board ensures that the Bank communicates with shareholders and other stakeholders in a regular and timely manner, to the extent that the Board thinks is in the best interests of the Bank, so that they have sufficient information to make appropriately informed decisions regarding the Bank.

Principle 9

The Board’s performance (including the performance of its chair, the individual Directors and where appropriate, the Board’s sub-committees) is regularly assessed and appropriate actions taken to address any issues identified.