The Nomination and Remuneration Committee is directly seeking to apply the principle and policy of coupling performance and distinction with reward and punishment in accordance with the CBB's criteria and standards letter, subject to which this Committee shall be entitled to form subcommittees that help it to carrying on its business activities effectively. This Committee is also responsible for all the Board members and the Executive Management affairs in terms of nominations, remunerations and other benefits within the applicable general framework.
The purpose of forming the Nomination and Remuneration Committee is to create a proper balance between the employees and shareholders interests in a manner that enable the Group to employ and retain the required employees to implement the Group's strategy. The Committee ensures the payment of fair remunerations for the Board members, executive management members and senior management officers in consideration of their individual contribution to the Group. This Committee is responsible for carrying on the Board's business activities effectively in favor of the good management of the Group and ensuring its members are positively implementing their duties.
For more detailed information about the Committee’s duties, powers, and the periodicity of its meetings, please refer to the Group’s approved Corporate Governance Code at the following link