Al-Mawashi continued to activate its steps towards activating the rules of governance in an effort to enhance the level of transparency and integrity in the company's operations, and a comprehensive review of the practices of the rules of governance followed as required by the executive regulations of the law establishing the Capital Markets Authority in the State of Kuwait. The special requirements in the governance rules have also been applied.

• 1- Board of Directors:

  • • The structure of the company's board of directors is commensurate with the size and nature of the company's activity, and to achieve the company's strategic objectives, the board of directors seeks to ensure that the executive management performs the tasks entrusted to it, and that it works to enhance the company's competitiveness, achieve high growth rates, maximize profits, and ensure that The decisions and actions of the executive management are always in the interest of the shareholders.
  • • One of the things that shareholders take into account when forming the Board of Directors is usually the diversity of practical and professional experiences, skills, knowledge and knowledge of the laws and regulations in force, the rights and duties of the Board of Directors, and knowledge of the company's activities.
  • • The Board of Directors of the company consists of seven members who are elected by the General Assembly by secret vote and may be re-elected, and the majority of the members of the Board are non-executive members, and that it includes at least one independent member whenever he is elected, provided that the number of independent members does not exceed half Council members.

• 2- Committees of the Board of Directors:

  In order to enable the Board of Directors to carry out its tasks and responsibilities effectively, and since the formation of committees falls within the responsibilities of the Board of Directors according to the company's needs, the Board of Directors has established the following committees:

  • • Audit Committee: The Audit Committee aims to assist the Board of Directors in its supervisory and oversight functions by ensuring the soundness and integrity of the company's financial statements and their compliance with laws and regulations. And establish a culture of commitment within the company and ensure the adequacy and effectiveness of the internal control systems applied in the company, and ensure the independence of internal auditing and the effectiveness of the control systems applied in this regard.
  • • Risk Committee: The committee aims to set policies and regulations for risk management, in line with the company's tendency to bear risks This includes identifying the internal or external factors that led or may lead to the occurrence of such risks and developing methods to confront them.
  • • Executive Committee: The objective of the committee is to assist the Board of Directors in its responsibilities before the shareholders and other parties in matters related to supervising the executive management, following up on its performance, and following up on the company's management's implementation of the company's strategy. As well as follow-up on investments and projects, and review the regulations, powers and policies in the company.
  • • Remuneration and Nominations Committee: The committee’s objectives are to enhance effectiveness and performance by participating in ensuring compliance with the standards and conditions for members of the Board of Directors and senior executives who are qualified to achieve the management’s vision regarding the company’s needs and in line with the policies and standards that are determined. The committee also submits any recommendations to the Board of Directors regarding the required skills requirements for the Board of Directors in order to achieve the company's objectives and protect the interests of shareholders and investors with high efficiency and reasonable cost. The committee also aims to set a clear policy for the remuneration of the board of directors and senior executives, and to define employee benefits segments.

• 3- Control and internal control systems:

  The company has an internal audit unit that enjoys complete technical independence and reports to the audit committee and reports to the board of directors. The head of the audit unit is appointed by the board directly and based on the nomination of the audit committee. The audit unit submits review and evaluation reports of the internal control systems applied in the company.

• 4- Risk Management:

  The company has established an independent risk department with the necessary professional qualifications and competencies by assigning its tasks to a professional office from the largest specialized professional offices.

• 5- Promoting professional behavior and ethical values:

  The Board of Directors has set standards and determinants that establish ethical concepts and values in the company in accordance with the official requirements of all parties, and the executive management seeks to implement the objectives of the company in accordance with those standards and determinants and include them within the work charter and the policy of professional behavior and ethical values approved by the Board of Directors. In addition, a conflict-of-interest policy and methods of addressing and dealing with it have been developed.

• 6- Disclosure and Transparency:

  The Board of Directors has developed systems and policies that guarantee transparency by adopting the “Disclosure and Transparency” policy, which includes methods and mechanisms for disclosing material financial and non-financial information in a timely manner to all parties and stakeholders without discrimination. Executive Disclosure.

• 7- .Stakeholders:

  Al-Mawashi prepared and updated the systems and policies that guarantee the protection of the rights of stakeholders to include the rules and instructions issued in this regard.

• 8- Social responsibility and sustainability:

  The Livestock Trade and Transport Company adopts social responsibility and sustainability programs. This is based on the pillars and requirements of the company's social responsibility in accordance with the executive regulations of the Capital Markets Authority. The Board of Directors has adopted a policy of Social Responsibility and Sustainability that includes defining sustainability goals in the form of indicators and target levels.

• 9- External auditors:

  • • Messrs. / PricewaterhouseCoopers “PwC“ - Al-Shatti and Partners.

• 10- The supervisory authorities that “livestock” is subject to supervision:

  • • Court of Accounts
  • • Capital Markets Authority