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4/2/2. Nomination and Exemption

No: 381000003528 Date(g): 10/10/2016 | Date(h): 9/1/1438

Translated Document

  1. The members of the Executive Committee and the reserve members shall be nominated every two years by the General Committee members through a majority vote. The Executive Committee shall have no fewer than seven (7) members and no more than nine (9) members, and there shall be no fewer than three (3) reserve members.
  2. The Chair and Deputy Chair of the Executive Committee shall be appointed by the Executive Committee members through a majority vote every two years, following approval from the Central Bank.
  3. The Chair of the Executive Committee shall appoint a Secretary and a Deputy Secretary every two years.
  4. If any member leaves before the end of their current term, the Executive Committee shall appoint a replacement from the reserve members designated by the General Committee. The replacement member will assume the position of the resigning member until the end of the current term. The Executive Committee must notify the General Committee of the replacement member.
  5. Any member of the Executive Committee shall be exempted if they leave, are relieved, or resign from the company they represent.