Skip to main content

Article 25

No: MSHT/82 Date(g): 10/12/2019 | Date(h): 13/4/1441

Effective from 2019-12-10 - Dec 09 2019
To view other versions open the versions tab on the right

The Consumer Microfinance Company shall develop written internal governance rules and regulations, approved by the Board. Such regulations should include at least the following: 
 
1.the description of the organizational structure, including all departments and functions and their tasks and responsibilities;
 
2.independence and separation of duties;
 
3.roles of the Board, its committees, and the composition and duties of each of them;
 
4.remuneration and compensation policies;
 
5.conflict of interest controls;
 
6.integrity and transparency controls;
 
7.compliance with applicable laws and regulations;
 
8.methods for securing confidentiality of information;
 
9.fair dealings; and
 
10.controls for protection of company assets.