Article 12

Effective from 2022-04-26 - Apr 25 2022
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1.	The Company shall comply with the Principles of Corporate Governance for Financial Institutions supervised and controlled by SAMA.
2.	The Company shall develop internal corporate governance regulations that must be approved by the board and submitted to SAMA. Such regulations must include at least the following:
	a.	A description of the organizational structure, including all departments and functions and their respective tasks and responsibilities.
	b.	Independence and separation of duties.
	c.	Internal control laws and regulations.
	d.	Roles of the board and its committees, the composition and duties of each.
	e.	Remuneration and compensation policies.
	f.	Conflict of interest controls.
	g.	Integrity and transparency controls.
	h.	Compliance with applicable laws and regulations.
	i.	Methods for securing confidentiality of information.
	j.	Safeguards for fair dealings.
	k.	Protection of the Company’s assets.
	l.	Protection of stakeholders and dealing with other parties.