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OUR GOVERNANCE
6. Our governance
A commitment to principles
of good governance and
the strategic role of our
Board, senior leadership and talented workforce collectively contribute to shaping a forward-looking organization dedicated to empowering
the private sector.
6.1 General Assembly
The General Assembly is the highest decision- making authority. Each member is represented at the General Assembly by an appointed representative. The main function of the General Assembly is to lay down the policies governing the work and general supervision of ICD. It may delegate authority to the Board of Directors to exercise any of its powers, except those reserved to the General Assembly under the Articles of Agreement.
6.2 Board of Directors (BOD)
The BOD is mainly responsible for the adoption of policies, the operations strategy, budget, and general conduct of ICD operations within the powers delegated to it by the General Assembly. The Board consists of ten members (including the Chairman) and is chaired by the President
of the IsDB Group. Other members include the representatives of IsDB, member country groups from Africa, Asia, and Arab Asia, public financial institutions and a permanent member from
Saudi Arabia (representing the largest shareholder after IsDB).
In accordance with the Articles of Agreement, the BOD shall meet when the business of
the corporation requires, and a majority of the members of the Board shall constitute a quorum for any meeting, provided that such majority represents at least two-thirds of the total voting powers of the members. A special meeting may also be called at any time by the Chairman or at the request of three members of the Board.
REINVIGORATING THE PRIVATE SECTOR TO SHAPE A BETTER FUTURE 49