Governance Overview
The Board of Directors of Al Amal Investment Company is responsible for overseeing the company's strategic direction, governance framework, and overall performance. The Board provides independent, informed oversight on behalf of shareholders and exercises its authority in accordance with the company's Articles of Association and applicable regulatory requirements.
The Board operates within defined regulatory standards applicable in the State of Kuwait, including the Capital Markets Authority Law No. 7 of 2010 and the CMA's Corporate Governance Code, ensuring accountability, transparency, and alignment with shareholder interests. The Board meets no fewer than four times per financial year.
Board Composition
| Name | Position | Classification | Tenure | Committee Memberships |
|---|---|---|---|---|
|
Abdul Jalil Qassin Hassan Boland
Board Chair
|
Chairman of the Board | Non-Executive | 2005–Present |
Investment
Committee
|
|
Hassan Asad Hussein Haider
|
Finance Director/CFO | Non-Executive | 2007–Present |
Risk
CommitteeInvestment
Committee
|
|
Anwar Nasrallah Seyyed Hameed Behbahani
|
Board Member | Independent | 2009–Present |
Audit
CommitteeInvestment
Committee
|
|
Adel Abdullah Hassan Suwaid
|
Board Member | Independent | 2007–Present |
Risk
Committee
|
|
Fouad Sayed Hameed Behbahani
|
Board Member | Non-Executive | 2009–Present |
Audit
Committee
|
Board Committees
Board committees are constituted in accordance with CMA regulations and the Company's governance charter. Each committee reports directly to the full Board.
| Committee | Mandate | Chair | Members |
|---|---|---|---|
|
Audit
Committee
|
Responsible for overseeing financial reporting integrity, internal controls, external audit processes, and compliance with applicable accounting standards and regulatory requirements. |
Anwar Nasrallah Seyyed Hameed Behbahani
Committee Chair
|
· Anwar Nasrallah Seyyed Hameed Behbahani
· Fouad Sayed Hameed Behbahani
|
|
Risk
Committee
|
Oversees the company's risk management framework, including identification, assessment, and monitoring of financial, operational, and strategic risk exposures. |
Hassan Asad Hussein Haider
Committee Chair
|
· Hassan Asad Hussein Haider
· Adel Abdullah Hassan Suwaid
|
|
Investment
Committee
|
Reviews and approves major investment decisions, evaluates portfolio allocations, and ensures investment activities align with approved risk appetite and strategic objectives. |
Abdul Jalil Qassin Hassan Boland
Committee Chair
|
· Abdul Jalil Qassin Hassan Boland
· Hassan Asad Hussein Haider
· Anwar Nasrallah Seyyed Hameed Behbahani
|
Audit Committee
Responsible for overseeing financial reporting integrity, internal controls, external audit processes, and compliance with applicable accounting standards and regulatory requirements.
- ▸Mr. Anwar Nasrallah Seyyed Hameed BehbahaniChair
- ▸Fouad Sayed Hameed Behbahani
Risk Committee
Oversees the company's risk management framework, including identification, assessment, and monitoring of financial, operational, and strategic risk exposures.
- ▸Hassan Asad Hussein HaiderChair
- ▸Mr. Adel Abdullah Hassan Suwaid
Investment Committee
Reviews and approves major investment decisions, evaluates portfolio allocations, and ensures investment activities align with approved risk appetite and strategic objectives.
- ▸Abdul Jalil Qassin Hassan BolandChair
- ▸Mr. Hassan Asad Hussein Haider
- ▸Mr. Anwar Nasrallah Seyyed Hameed Behbahani
Responsibilities of the Board
- ▸Approval and periodic review of the company's strategic plan and corporate objectives
- ▸Evaluation of major transactions, acquisitions, and capital allocation decisions
- ▸Oversight of corporate performance against approved strategic targets
- ▸Approval of annual budgets, financial plans, and major investment decisions
- ▸Review and approval of quarterly and annual financial statements
- ▸Oversight of dividend policy and capital structure
- ▸Oversight of enterprise risk management framework and risk appetite
- ▸Ensuring adherence to the Capital Markets Authority regulatory requirements
- ▸Review of internal audit findings and remediation plans
- ▸Appointment and performance evaluation of senior executive leadership
- ▸Maintenance of Board independence standards and conflict of interest protocols
- ▸Oversight of corporate governance framework and charter compliance
Governance Principles
Accountability
Board members are individually and collectively accountable to shareholders and regulatory authorities for all governance decisions.
Transparency
The Board is committed to clear, accurate, and timely disclosure of material information to all stakeholders.
Independence
Independent directors exercise objective judgement free from conflicts of interest in all Board deliberations and decisions.
Compliance
All Board activities operate within the regulatory framework established by the Capital Markets Authority of Kuwait.
