We at Arab MLS firmly believe that the fundamental tenets of corporate governance play a pivotal role not only in earning the trust of our valued investors but also in maintaining it. Robust corporate governance principles are an integral part of Arab MLS’ identity. Arab MLS is dedicated to aligning its corporate governance practices with rigorous international standards, upholding a stakeholder-centric approach.
Our corporate governance framework is anchored by a team of highly skilled executive board members and a distinguished group of independent non-executive directors, supported by a seasoned management team. Arab MLS’ governance structure ensures the timely, transparent, and accurate disclosure of material information related to the company’s ownership, operations, and financial performance.
At Arab Multiple Listing Services (Arab Mls), our Board of Directors (BoD) plays a pivotal role in providing the organization with essential oversight and strategic guidance to ensure the ethical and efficient management of our services. The BoD is deeply committed to Arab Mls’ long-term success, both financially and non-financially, and works tirelessly to serve the best interests of all stakeholders. Collaborating closely with our management team, the BoD ensures the execution of strategic initiatives and the implementation of critical decisions vital for the sustainable and effective operation of our services. Furthermore, the BoD shoulders the responsibility of enhancing our internal control systems, managing risks, and safeguarding Arab Mls’ long-term sustainability. It also takes charge of establishing compensation and performance objectives, overseeing director nomination, evaluation, and succession planning, and supervising our economic, social, and environmental sustainability initiatives. In alignment with global best practices, Arab Mls’ BoD boasts a diverse and skilled composition, reflecting various experiences, genders, and nationalities. Our dedication to adhering to international corporate governance standards is evident through the presence of a Lead Director among our non-executive Board members. To carry out their responsibilities effectively, the BoD is supported by dedicated committees, each with specific charters and mandates. In addition, internal and external auditors, along with various internal control departments, such as Risk, Compliance, Internal Audit, Corporate Governance, and Legal, provide valuable support. The efforts of these functions are integral in ensuring that Arab Mls upholds international corporate governance standards.
At Arab Multiple Listing Services (Arab Mls), we are dedicated to upholding the rights of our valued shareholders and empowering them to make informed and responsible decisions. Our active commitment involves ensuring that shareholders have access to accurate and timely information, granting them the right to vote on crucial matters, and safeguarding all rights mandated by applicable laws. We convene our Annual General Meeting of Shareholders every March, no later than three months after the conclusion of our fiscal year. Additionally, Extraordinary General Shareholder meetings may be called at any time by our Board of Directors (BoD). The General Assembly serves as a vital platform for our shareholders to interact with our Board of Directors and exercise their voting rights. Shareholder consent is indispensable for pivotal decisions, including:
1. Adoption of financial statements.
2. Voting on proposed dividends recommended by the BoD.
3. Implementing significant changes to our corporate governance practices.
4. Establishing remuneration policies.
5. Determining the remuneration of Non-Executive Directors.
6. Appointing external auditors.
7. Deciding on the appointment, suspension, or dismissal of members of the BoD.
8. Authorizing the issuance of shares or rights to shares.
9. Approving amendments to the Articles of Association.
At Arab Mls, we prioritize transparency, accountability, and the active involvement of our shareholders in shaping the future of our organization.
At Arab Multiple Listing Services (Arab Mls), the General Assembly’s approval empowers the Board of Directors’ Audit Committee, as appointed by the Board of Directors (BoD), to make recommendations regarding the appointment or dismissal of an external auditor. This committee diligently evaluates the auditor’s performance, striving to uphold the utmost integrity of our financial statements, ensuring they faithfully represent our organization’s performance and financial position. Committed to adherence to the regulations established by relevant authorities, Arab Mls follows a practice of impartiality, independence, and diversification by reassigning the external auditor appointed by the BoD every five years. Arab Mls engages the services of an external auditor to provide effective, accurate, and independent oversight of our financial statements. This auditor plays a critical role in ensuring our organization’s compliance with all applicable laws and regulations, lending credibility to our operations, and safeguarding the accuracy of our internal audit practices. The Board Audit Committee is responsible for recommending the appointment or dismissal of the external auditor, a decision that is subsequently approved at the General Assembly Meeting of Shareholders. Furthermore, this committee evaluates the performance of the external auditor and endorses the prepared financial statements to guarantee their faithful reflection of our organization’s performance. In alignment with our commitment to regulatory compliance, external auditors are reappointed every five years, ensuring an objective and evolving approach to our auditing processes.