KFIC for Financing Services Board of Directors have the following core committees:
Risk management Committee:
The Committee shall report directly to the Board and will specialize in risk management and preparing the policies & procedures for risk management function to comply with company’s risk appetite.
The purpose for establishing the Audit Committee is to provide a culture of commitment in the company and by that, ensuring the correctness and integrity of the financial reporting of the company as well as the verification of the adequacy and effectiveness of the internal control systems applied.
Nomination and Remuneration Committee:
The purpose of forming the Committee is to develop policies and to make recommendations to the Board on nominations, appointment, re-appointment of BOD Members and Executive Management; as well as implementing remuneration policies of Board members and Executive Management and effectively examining the selection and appointment practices of the Company. The Board retains ultimate responsibility for the delegated functions.
The Executive Committee (EC) of KFIC for Financing Services is appointed by the Board of Directors to assist the board in fulfilling its oversight responsibilities by reviewing and recommending new products, services and business developments, the updates and reports submitted by the Management Committees.