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| | CG Vision & Road Map |
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The Savola Group Corporate Governance initiative is aiming to establish effective & proactive Board of Directors and comply with ethics & values, procedures, regulations, and commitments towards its shareholders, regulators, employees, suppliers, clients and all others stakeholders. This will be fulfilled through the implementation of Corporate Governance principles which ensure the Group compliance with laws, regulations, and general policies including the Group internal policies & bylaws, those of the Capital Market Authority regulations and other various laws and regulations of the Kingdom, and the International best practices.
Savola CG and CSR Unified Mission:
Based on our culture approach "The Balanced Way", we, in the Savola Group, are committed to exert our best efforts to achieve the international standards & best practices in the area of Corporate Governance (CG) & corporate social responsibility (CSR) through enforcement of two major initiatives:
1 - Savola Pledge 2 - Savola Bridges
Savola CG and CSR Unified Vision
To become a Center of Excellence which provides a source of expertise in corporate governance and corporate social responsibility policies, guidelines, systems and processes and, to become a model worthy to emulate in the MENA region and beyond.
The Savola Road Map in CG field
The main feature of the plan adopted by the Group is to satisfy the CG (Savola Pledges) requirements and commitment to fulfilling the interests & promises of (Shareholders & investors, regulators, employees, Customers, venders & suppliers, and Community at large).
This is in addition to enhancing the relationships and maintaining their interests between these parties and the Group. The Group is committed to transparency and disclosure principles and the activation of both the Board of Directors and the executive management roles and specifying their responsibilities and areas of accountabilities. Savola is also continuously securing the mechanisms that enhance internal control and risk management.
The plan also aims to comply with CG regulations issued by CMA, as a top priority, in addition to adopting the best international practices in CG field. This is to enhance the culture and implement modern management rules in the Group. In addition, the plan seeks to maintain the application of Islamic values to all the transactions in the Group; and to do its best in order to activate them via adopting the values of honesty, caring justice, conscientiousness, and personal control. - the Savola 'Balanced Way'.
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