Governance
At Miahona, we’re proud to uphold solid corporate governance practices that are in line with the standards set by Saudi Arabia’s Capital Market Authority (CMA). Our approach revolves around transparency, accountability, and ethical conduct; however, it goes beyond meeting national regulations, aiming to exceed our stakeholders’ expectations.
Miahona’s governance structure is built around the Board of Directors and three functional Board Committees, namely the Executive Committee, the Audit Committee, and the Nomination & Remuneration Committee.
Each of the committees is responsible for reviewing the company’s operations within the context of their specific expertise, conducting voting decisions of their own on various matters and providing frequent updates to the Board for approvals and/or information.
Behind our every strategic move, we have the support, vision, and wisdom of our Board of Directors (BoD). Made up of seasoned professionals from diverse industries and professional backgrounds, Miahona’s BoD brings a wide range of knowledge and expertise to the table. Miahona Nomination and Remuneration committee shall review experience of all candidates for Board membership and submit recommendations to the Board for the purpose of nominating members thereto and submit its recommendations to the General Assembly for a vote and the appointment of Board members, in addition to any shareholder who meet the membership requirements may be self-nominated. Board Members are elected by cumulative voting of the General Assembly for the term stated in the Company’s bylaws, provided that such duration shall not exceed four (4) years.
Our corporate governance approach is supported by a robust framework designed to enhance accountability through the recognition and management of all risk areas. It specifies the distribution of rights and responsibilities among various participants of the Miahona Group, including our Board of Directors and the functional committees, our senior management, and our employees, with a focus on internal audit, risk management, corporate governance standards, and integrity.
At Miahona, we have established a comprehensive Enterprise Risk Management (ERM) Framework that seamlessly integrates risk management into our governance structure. This framework strengthens our strategy, planning, management, reporting processes, and policies, in every aspect of our operations, we ensure a resilient and sustainable business approach. Our risk Policy adheres to the principles of the International Risk Management Standard (ISO 31000:2018) to assess, and manage risks effectively, ensuring a proactive and structured approach to safeguarding the Company’s objectives.
We constantly promote transparent internal and external communications through regular updates, meetings, and internal audits. This open and fluid dialogue strengthens our connections with investors and builds a foundation of trust and integrity, which s at the heart of everything we do at Miahona. Guided by our Code of Ethics and Corporate Policies, we uphold the highest ethical standards across all aspects of our business.
We encourage our Employees to speak up in case they have a suspicion of the breach of the precepts of the principles of our Code of Ethics and Corporate Policies. We acknowledge that speaking up requires courage. Miahona has implemented a whistleblowing software solution for Employees and other shareholders where they can anonymously communicate their ethical concerns or suspicions regarding any possible unethical conduct, acts of corruption or infringements of the law or the precepts of this Code, that is available at www.miahona.com/whistleblowing.
Miahona guarantees that Employees reporting their concerns in good faith will not suffer any form retaliation, discrimination or harassment as a consequence of speaking up. Miahona also guarantees the confidentiality regarding the identity of the Employee who raised the concern of those Employees and/or third parties under investigation.
Important Goverance Documents