KIC Financial Brokerage aims at protecting shareholders and separating power between the executive management of the company and the board of directors, which prepares and reviews plans and policies in this company, to enhance the sense of trust in dealing, and enable shareholders and stakeholders to effectively control the company, Ethical behavior, control and accountability, and proper management.
Basic principles of corporate governance
Corporate governance is a system of rules, practices and processes that guide and control systems and procedures that best protect and balance the interests of the management of the company, its shareholders and other stakeholders.
Corporate governance at KIC Financial Brokerage
The Capital Markets Authority issued Decree No. 72 of 2015 on Law No. 7 of 2010 on the establishment of the Capital Market Authority and the Regulation of Securities Activity, a set of instructions on corporate governance for companies listed on the local stock exchange in Kuwait. The guidelines include a set of standards for good corporate governance represented by a set of corporate governance rules.
Corporate governance has the following rules in line with the CMA
- Rule 1: Building a balanced structure for the Board of Directors
- Rule 2: Proper identification of tasks and responsibilities
- Rule 3: Selection of experienced and competent persons to the Board of Directors and Executive Management
- Rule 4: Ensure the integrity of financial reports
- Rule 5: Establish sound risk management and internal control systems
- Rule 6: Promoting professional behavior and ethical values
- Rule 7: Disclosure and transparency in an accurate and timely manner
- Rule 8: Respect for Shareholders' Equity
- Rule 9: Recognize the role of stakeholders
- Rule 10: Enhancement and improvement of performance
- Rule 11: Focus on the importance of social responsibility
As well as the company's understanding of the actual and potential shareholders' rights, and in the interest of the company to provide all the data, information and reports required by them that do not adversely affect the company. Provided that shareholders are provided with such information through the company's personal presence or by e-mail firstname.lastname@example.org