Based on FIPCO obligation to comply with the requirements of corporate governance regulations issued by Capital Market Authority-CMA, in order to reach best practice in line with international standards of international economic organization, FIPCO has put the principles and policies of governance and its procedures and the resulting separate policies and internal regulations.
FIPCO believes that its corporate governance agenda is the foundation of new phase of corporate governance that is in line with aspiration to achieve high regional positions distinguished international standing.
FIPCO continues its efforts to enhance the level of transparency and disclosure and to disseminate the culture of governance within it and its various departments to emphasize institutional commitment through the combined efforts of the Board, the Executive Management and the staff.
Main objective of FIPCO plan is to meet the requirements of corporate governance in our commitment to strength the relationships of shareholders, customers, employees and all stakeholders.
Compliance with the principles of transparency and disclosure, activating the role of the board of directors and executive management, and determining their responsibilities and training on an ongoing basis. And to ensure on a continuous basis process to enhance the effectiveness of internal control and risk management. The plan aims to comply with corporate governance regulations issued by CMA as top priority as well as adopting the best international practice in same filed to enhance institutional culture and implement group sound management rules.
Each organization is different from other but in general are beginning recognize the importance of corporate and governance and social responsibility as strategic business and corporate culture rather than a programs without planning one of the most important tolls a business need a commitment.
FICPO is committed to adopting best practices in all areas in line with principles of governance to achieve an ideal level that ensures leaderships and progress. FIPCO appreciates the efforts exerted by CMA, considering that CMA is the major partner in achieving the financial stability; sustain business and protecting the shareholders right.