KIC Board of Directors has a structure that commensurate with the size and nature of its
activities, as well as the tasks and responsibilities assigned to the Board. Upon the
inception of that Board, a number of factors has been taken into consideration: the diversity
of practical and professional expertise and specialized skills and that the members should
have knowledge of the relevant laws and regulations, the rights and duties of the Board of
Directors, as well as full understanding of KIC's activities and risks to its financial
position.
KIC has also appointed two independent members capable of evaluating the performance of the
Company objectively and neutrally, separate from the executive management and shareholders,
with a view to ensure objectivity and accountability in the process of strategic
decision-making and daily operational management.
This strategy helps to achieve the best protection and balance between the interests of KIC
management and those of its shareholders and other stakeholders. The main objective of
applying KIC rules of governance is to ensure that the Company works in line with the
objectives of the shareholders, thus enhancing the investors' confidence in the efficiency of
the Company and its ability to cope with crises.
KIC's governance structure regulates its decision-making methodology and stimulates the values
of transparency and credibility of those decisions. Among KIC's key objectives is to protect
its shareholders and segregate the powers of the executive management, which runs the
Company's business, and the Board of Directors, which prepares and reviews its plans and
policies, thus providing reassurance and confidence in our business and enabling our
shareholders and stakeholders to effectively monitor the performance of the Company.
The company’s work is subject to the laws of the state’s regulatory authorities, which are as
follows:
Capital Markets Authority
Ministry of Commerce and Industry
Central Bank of Kuwait