Page 55 - ICD-AR22-English

OUR GOVERNANCE
6.5 Audit, Risk & Compliance Committee
The BOD appoints an Audit, Risk & Compliance Committee (ARCC) from among its members for a three-year term. The Committee has oversight responsibilities over the ICD Audit, Risk and Compliance functions, and it reports its findings to the BOD. ARCC is composed of four members: three members from the appointed members
of the Board, and one independent expert member appointed by the BOD. The members of the committee serve for the full three years commensurate with their term on the BOD.
Board Audit, Risk & Compliance Committee as of end 2022
1 Hon. Dr. Fahad M. Alturki (Chairman)
2 Hon. Dr. Mahmoud Isa-Dutse
3 Hon. Wesam Jasem Al Othman
4 Hon. Saleh Mugbel Al Khalaf (Independent Expert Member)
6.6 The Chief Executive Officer
The CEO, under the general supervision of the Chairman of the Board of Directors, conducts
the day-to-day business of ICD. The CEO is also responsible for the appointment of officers and staff of the Corporation. To the extent that he is authorized by the BOD, the CEO approves ICD’s financing and investment. The BOD appointed Eng. Hani Sonbol as the Acting Chief Executive Officer of ICD on 16/02/1444H (12/09/2022).
6.7 IsDB Group Shari’ah Board
In 2012, the ICD Shari'ah Board was subsumed within that of IsDB, forming the IsDB Group Shari’ah Board. The Board is responsible
for advising the IsDB Group on the Shari’ah compliance of its products and transactions. The Board consists of the following eminent scholars:
IsDB Group Shari'ah Board as of end 2022
1 Shaikh Mohamad Taqi Alosmni
2 Shaikh Abdulla Bin Manei’a
3 Dr. Mohammed Alroki
4 Dr. Mohammad Alshafe’e
5 Dr. Bashir Aliyu Umar
6 Dr. Osaid Kailani
7 Dr. Koutoub Moustapha Sano
THE IsDB GROUP SHARI'AH BOARD IS RESPONSIBLE
FOR ADVISING THE IsDB GROUP ON THE SHARI’AH COMPLIANCE OF ITS PRODUCTS AND TRANSACTIONS.
REINVIGORATING THE PRIVATE SECTOR TO SHAPE A BETTER FUTURE 53