Corporate Governance
Transparent criteria for sustainability
Governance is one of the most important pillars through which Al Fozan Holding works; as it contributes to the sustainability of achieving the strategy and objectives of the company by preserving the rights of stakeholders, enhancing their role in supporting and managing companies and investments, and emphasizing the best standards of policies and procedures in holding companies.
In accordance with the Corporate Governance Guidelines, Al Fozan Holding shall comply with the rules and regulations in force in the Kingdom of Saudi Arabia, including the applicable Companies Law. Its corporate governance system includes principles that are followed locally and globally.
The company adopts an elaborate governance system that guides the group's operations based on four pillars, namely transparency, fairness, accountability and corporate social responsibility, and based on basic pillars that include transparency in data, auditing and review, in various aspects including committees, wages, organizational structures and development, and others.
The company has also developed a compact family constitution and charter that protects the rights of everyone, and represents a guide to intergenerational transmission, distribution of shares, and family participation in work.
Among the series of successes achieved by Al Fozan Holding in the field of governance, the company was awarded the title of the Best Diversified Holding Governance in GCC for two consecutive years 2021-2022, which was awarded by the British magazine Capital Finance International.
Transparency
The Company complies with the highest standards of transparency and disclosure adopted by investors and all stakeholders, as part of an integrated governance system that enhances trust inside and outside the company.
Fairness
The company's governance regulation guarantees fair treatment to all shareholders, partners, customers, employees, suppliers and all related parties, and this represents a basic pillar of the company's philosophy.
Accountability
promotes accountability from the compliance culture to which the company and its affiliates are committed in their performance and behaviours as an integral part of their responsibility to shareholders, partners and stakeholders.
Corporate Social Responsibility
Social responsibility is a fundamental pillar of the company's work culture, and a national duty through which it contribute in building a better future for the community, economy and environment, and help the company’s subsidiaries, shareholders, and employees to leave a lasting impact on the people and communities they care for.
