Corporate Governance

The Board of Directors of Rasan Information Technology Company is composed of (9) members appointed by the General Assembly for a three-year term who are entrusted with the tasks of managing the company.

The powers of the company's Board of Directors, as stipulated in the provisions of its bylaws and taking into account the powers assigned to the General Assembly, include that the Board has the broadest powers in managing the company in a way that achieves its purpose, and the Board has the right to represent the company in its relations with third parties and governmental and private entities. The Board also has the right to contract and sign in the name of the company and on its behalf all types of contracts, instruments and documents. It also has the right, within the limits of its jurisdiction, to authorize one or more of its members or third parties to undertake a specific work or works - in a manner that does not conflict with the relevant laws and regulations.

Executive Committee

The committee is formed from 3 to 5 members of the board of directors and the board of directors determines its terms of reference and powers, turns into the committee on delegated powers, subordinate to the delegated corrections, its planning committee, the board of directors, feeding the official reviews of the board of directors.

Audit Committee

The committee consists of 3 to 5 members from the board and outside, and this committee plays a fundamental and important role in assisting the board of directors to fulfill its supervisory duties with regard to the integrity of the company's financial statements and the proposal to appoint the company's auditors, follow-up and evaluation of the performance of disclosure controls and procedures, and evaluation of the effectiveness of internal audit and auditors External auditors and ensuring the adequacy of the company's internal accounting systems and financial controls, and its compliance with ethical policies and legal and regulatory requirements, in addition to risk management, compliance and control activities.

Nomination and Remuneration Committee

The committee consists of 3 to 5 members of the Board of Directors and outside, and its tasks and competencies focus on recommending to the Board of Directors nomination for membership of the Board in accordance with the approved policies and standards, and periodically reviewing the required needs of the appropriate skills for membership of the Board of Directors and its subcommittees, reviewing the structure of the Board of Directors and making recommendations regarding changes that can be carried out, ensuring on an annual basis the independence of the independent members, linking the recommendation for appointment to the appropriate skills, capabilities and qualifications required, and setting and reviewing remuneration and compensation policies for members of the Board of Directors and senior executives.

Investment Committee

The committee consists of 3 to 5 members from the board of directors and outside, and it is concerned with assisting the board of directors in recommending to the board all matters related to investment, including asset allocation plans, the selection and development of investments in accordance with the rules and controls.