Board Committees

Board Committees

The Board Committees perform their duties and responsibilities based on policies, regulations and related governance documents approved by the Board of Directors or the General Assembly, depending on the case. They will determine their authorization level and work procedures. These Committees were established along with the formation of the current Board of Directors starting from 17 April 2022 to 16 April 2025.

Executive Committee

The responsibilities of the Executive Committee are to ensure the effectiveness of the decision-making process at highest levels. This is done to achieve the Bank’s aims through a flexible timetable that will support the Board of Directors in implementing its responsibilities. The Committee helps in enhancing the Board of Directors’ roles in promoting, monitoring and implementing the Bank’s strategy. This leads to an effective performance, reviewal and monitoring of the Bank’s operations on a regular basis, as well as taking decisions and providing applicable recommendations to the Board.

Executive Committee Composition

  • Mr.Nasser Mohammed AlSubeaei (Committee Chairman-Non-Executive)
  • Mr. Khalid Abdulrahman AlRajhi  (Member- Non-Executive) 
  • Mr. Abdulaziz Mohammed AlOnaizan (Member- Executive)

  • Mr. Nasser Mohammed Alnasser (Member- Independent)
  • Mr. Haytham Sulaiman AlSuhaimi (Member- Non-Executive) 

Shariah Committee

The Shariah Committee is responsible for the compliance with the shariah laws and its role is prominent particularly in the following aspects
  • The Bank does not implement any product, contract, or agreement unless it has been submitted to, and been approved by the Shariah Committee.
  • Decisions of the Sharia Committee are binding.
  • The Sharia Committee contributes to the development of all products to ensure they are fully Shariah compliant.
  • The Sharia Committee disseminates the awareness regarding the Islamic banking solutions and concepts within and outside the bank.

Shariah Committee Composition

  • Sheikh Dr. Abdullah Ibn Musa Al-Amar (Committee Chairman - Independent)
  • Sheikh Dr. Muhammad Ibn Saud Al-Osaimi (Member - Independent)
  • Sheikh Dr. Yusuf Abdullah Al-Shubaili  (Member- Non-Executive)

Audit Committee 

The Audit Committee is responsible for supervising the internal audit sector. This includes verifying the independence and effectiveness of the sector, ascertaining the availability of human resources, reviewing reports issued by the audit sector, following corrective procedures and approving the internal audit plan. The Committee also nominates external auditors, assesses their performance and verifies their independence. The Committee reviews the contracts and transactions proposed by the Bank with related parties, in addition to the other supervisory work that falls within the scope of the work of the Committee in accordance with the regulations approved by the General Assembly.

Audit Committee Composition

  • Mr. Adeeb Mohammed Abanumai (Committee Chairman - Independent)
  • Mr. Mohammed Farhan bin Nader (Member-Independent) 
  • Mr. Abdulaziz Abdullah Alakel (Member-Independent) 

Nomination And Remuneration Committee 

The responsibilities of the Committee are to review annually the required skills needed for the Board of Directors and its Committees’ membership that comply with the Sharia regulations. The Committee reviews the structure and composition of the Board of Directors and its Committees on regular basis, and provides recommendations on members’ strengths and weaknesses, with suggestions on how to overcome them. Also, it provides recommendations on the Board of Directors and its Committee candidates, and lists the applicable qualifications and expertise needed for membership. Additionally, the Committee is responsible for checking annually the independence level of the Board members to avoid conflicts of interest. Moreover, the Committee is responsible for studying the status of development, updating and proposing policies related to renumeration, rewards and policies of the Board of Directors, Executive Committees and other Committees. In addition, the Committee reviews tasks related to the roles and human resources structures, and provides recommendations on those matters to the Board of Directors.

Nomination And Remuneration Committee Composition

  • Mr. Haitham Mohammed Alfayez (Committee Chairman - Independent )
  • Mr. Sameer Omar Baeisa (Member - Independent)
  • Mr.Khalid Saleh AlHathal   (Member - Non-Executive)

Risk Committee

The Risk Committee is one of the committees at the same level as the Board of Directors. Its main purpose is to provide advice and consultation to the Board on current and future overall plans and strategies. This includes the Bank’s capacity and ability to bear risks. The Committee also supervises the Executive Management’s implementation of these objectives. In general, the Committee assists the Board in overseeing all the activities and decisions related to the Risk Management Group at the Bank. Such activities and decisions include market, credit, investment, financial and operating risks as well as liquidity, reputation, business continuity and technical systems risks. In addition, the Committee is to review the Bank’s internal risk policies and present them to the Board of Directors for approval. The Committee also seeks approval on the distribution amount of acceptable credit risks, responsibilities and other approved risks from the Board of Directors. It likewise provides a periodic review on risk limitations and new products, and ensures the availability of compliance with the regulatory authorities.

Risk Committee Composition

  • Mr. Muath Abdulrahman AlHussaini (Committee Chairman-Independent )

  • Mr. Mohammed Abdulrahman AlRajhi (Member - Non-Executive)
  • Mr. Haitham Mohammed Alfayez (Member - Independent)
  • Mr. Faisal Talib Hameed (Member - Independent)

Compliance And Governance Committee

The Committee is responsible for supervising and maintaining the highest standards of governance by guaranteeing, on behalf of the Board of Directors, that sound governance practices are followed in the Bank's activities. The Committee ensures that the Bank complies with all relevant local, regional and international regulations, standards and rules related to its activities. It conducts continuous review of the overall governance framework and related mechanisms. The Committee is also responsible for reviewing the Board Committees' and the Executive Managements' regulations and submitting recommendations thereof to the Board of Directors. It is also responsible for monitoring and ensuring that the Bank has sufficient mechanisms to identify cases of conflict of interest in all transactions and operating activities. The Committee shall approve the annual commitment plan/program and undertake the task of reviewing the annual compliance report submitted to the regulatory authorities. It monitors the adequacy, effectiveness and independence of the compliance sector and the money laundering mechanism in relation to the implementation of the compliance policy and guidelines. It also reviews compliance reports, periodic and annual AML/CTF reports, and ensures effective correction of any identified gaps or irregularities. The Committee also reviews the commitment plan/program.

Compliance And Governance Committee Composition

  • Dr. Zeyad Othman Alhekail (Committee Chairman - Independent)
  • Mr. Muath Abdulrahman AlHussaini (Member - Independent)
  • Mr. Sameer Omar Baeisa  (Member - Independent)

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