Governance Policy
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Corporate Governance Policy
Sound leadership is the foundation of success and sustainability
As part of the Ministry of Economy and Tourism’s pursuit of a resilient system for a future economy, the Ministry is committed to developing its organizational and legislative environment and adopting policies that require leaders, committees, and employees to comply with corporate governance standards within an organizational framework that ensures the sustainability of operations, safeguards the interests of interested parties, and promotes the principles of transparency, accountability, and integrity—while underscoring the rule of law as a fundamental pillar of sound governance.
To achieve these directions, our policy focuses on commitment to the following:
- Implementing best practices of corporate governance and complying with laws, legislation, and regulatory policies;
- Adopting a clear organizational structure that enhances business sustainability, decision-making, and accountability.
- Segregating responsibilities and authorities in a manner that ensures independence and accountability in decision-making and prevents conflicts of interest.
- Embedding governance principles and integrating them comprehensively into policies, operational processes, and the management systems in place.
- Strengthening and developing the competencies of leaders and committee members to ensure they possess the knowledge and expertise necessary to apply governance principles efficiently and effectively, thereby enhancing performance quality and ensuring the sustainability of institutional outcomes.
- Enhancing commitment to social responsibility and environmental protection through sustainable practices that contribute to community development and serve the public interest.
- Monitoring performance and implementing the necessary measures to ensure adherence to governance principles and strengthening accountability for performance and decisions at all levels.
- Continuously improving the governance and compliance management system;
- Senior management affirms its commitment to leading the Ministry in accordance with its vision and mission, and to ensuring that decisions and policies are aligned with its strategic objectives, in a manner that supports sound governance and enhances institutional excellence.
- Ensuring the delivery of the best value to stakeholders by engaging them in decision-making processes and ensuring fair and equal opportunities for them.
- Periodically reviewing policies and procedures to ensure alignment with governance best practices.
- Periodically assessing governance practices and supporting internal control and risk management
- Continuously improving the governance management system and ensuring compliance with all applicable laws, regulations, and standards.
