Corporate Governance

At NREC, we pride ourselves in adhering and committing to the highest level of ethical business practices and corporate governance principles. Corporate transparency, accountability and integrity are embedded in the daily actions of our executive management and employees.

Consistent with the direction of the new Companies Law and the Corporate Governance Regulations issued by the Capital Markets Authority (CMA), NREC’s corporate governance guidelines follow a thorough implementation of sound policies and practices within the Company and its subsidiaries.

The Board of Directors has designed a governance framework based on effective and prudent management to ensure long-term value creation for our Shareholders. The Board has therefore formed five committees to ensure that decisions are implemented and operations are managed with the highest level of transparency and accountability across the Company and its subsidiaries.

In addition to the governance framework, two independent Board members have been included as part of the Company’s aim to implement the best practices in governance.

Each committee has a set of authorities and responsibilities to fulfill certain tasks as assigned by the Board.