The Institution: The Saudi Arabian Monetary Authority

Standing Committee: A committee whose activities are characterized by continuity and permanence.

Temporary Committee: A committee formed to address a specific task and ceases to exist upon the completion of that task. It is established whenever needed and should not exceed a duration of one year unless otherwise stated in the formation decision.

Committee Chair: The member appointed to lead the committee and manage its activities.

Deputy Chair: The member appointed to replace the Chair in case of their absence, departure, or removal.

‏Committee Members: The members appointed to work on the committee, responsible for attending meetings and contributing to them.

‏Secretary: The person appointed to perform support, coordination, and other additional tasks for the committee. The Secretary attends meetings but does not have the right to vote.

Deputy Secretary: The person appointed to replace the Secretary in case of their absence, departure, or removal.

Expert: Any person invited or called to committee meetings for the purpose of providing expertise on a specific matter or consultation. The expert does not have the right to vote in any of the meetings they attend.

Agenda: A list of topics to be presented and discussed at the meeting, including the order and sequence of the items.

Meeting Minutes: An accurate record of what was discussed in the meetings, serving as the official reference for proposals, reports, and member opinions.

Quorum: The minimum number of members required to be present for the meeting to be considered valid and for the decisions to be effective. It is represented by two-thirds of the members.

Voting: The right granted to members present at a meeting with a quorum to express their opinion on a specific decision. Voting is categorized into several scenarios as follows:

* Unanimous Voting: All votes are in one direction.

* Abstaining from Voting: Choosing not to vote on any decision, either in approval or rejection.

* Majority Voting: Agreement by more than half of the members present on a decision after excluding the number of abstentions, in a valid meeting with a quorum.