Board members shall be qualified to carry out the work entrusted to them, have a clear understanding of their required roles, and have the ability to make decisions impartially and objectively without any external influence whether from inside or outside the financial institution. They shall particularly fulfill the following:
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| 4. | Their CVs shall be publicly available in order to enable stakeholders to assess their efficiency and ability to carry out their tasks effectively.
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| 5. | A member shall have professional competence and shall possess various practical and administrative skills and experiences, as well as appropriate personal qualities, especially honesty and integrity, in addition to the following:
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| | a. | Leadership: He shall possess leadership skills that enable him to delegate powers in order to promote performance, to apply best practices in effective management, and to disseminate professional values and ethics.
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| | b. | Competence: This attribute shall appear through the level of education, experience, skills, and willingness to continue learning.
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| | c. | Guidance: He shall possess technical and administrative capabilities, speed in making decisions, understanding of the technical requirements related to workflow, ability to provide strategic orientation, long-term planning, and a clear future vision.
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| | d. | Financial Literacy: He shall have the skills to read and understand financial statements and reports and the ratios used to assess performance.
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| | e. | Physical Fitness: He shall not have a health condition that hinders him from exercising his duties and competencies.
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| 6. | A member shall have the following qualities:
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| | a. | Truthfulness: He shall have an honest professional relationship with the financial institution, and shall disclose thereto any relevant information before conducting any transaction or entering into a contract with the financial institution or with any of its affiliates.
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| | b. | Loyalty: He shall avoid transactions that may entail a conflict of interest, and shall ensure the fairness of dealings and their conduct for the benefit of the financial institution and stakeholders.
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| | c. | Care: He shall perform his duties and responsibilities effectively, and shall be keen to provide all the information that would ensure that the decisions made are in the interest of the financial institution. In order to achieve the foregoing, he shall undertake the following responsibilities:
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| | | • | Attend Board meetings regularly, and not be absent without a justifiable excuse, and prepare for such meetings and effectively participate therein, including raising relevant questions and holding discussions with senior executives;
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| | | • | Make decisions on the basis of complete information and in good faith. A member shall not be relieved of responsibility if he abstains from voting without clarifying his opinion on the decision in question;
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| | | • | Develop his knowledge of the financial institution's activities and other related areas;
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| | | • | Ensure that significant and major topics are included in the Board meeting agenda;
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| | | • | An executive member shall provide full information to the Board when requested. | |
