We are committed to adhere by the laws and regulations of the Central Bank of Oman. Al-Walam Investment LLC has high standards of corporate governance, ensuring transparency in financial reporting, accompanied by good business leadership and professionally equipped management that geared to have long-term success for the Company. Corporate governance sets focus not only on business risks and the company's reputation, but most importantly to oversee the corporate social responsibility towards all our stakeholders. As a responsible business, we recognize the significance of effective corporate governance by way of showing respect for society and the environment, communicate in an open and transparent manner, and perform in accordance with legal, corporate and ethical guidelines. We have established a Corporate Governance Model powered by cutting-edge tools and relevant committees that are consistent with our relentless commitment in creating long-term stockholder value and they are part of the reason why we are well-positioned for a productive future.
Though our Management Team is ultimately responsible for overseeing the overall operation of our group, nonetheless, all of our employees play a vital role in enforcing solid governance in accordance with all related laws and regulations and conforms to the International Financial Reporting Standards. To further strengthen control and boost our employee’s confidence, we adopt a policy that encourages our employees in good faith to comment on our reporting methods and processes and to air out any concerns. Our commitment is to deliver and maximize our value to our all shareholders and stakeholders alike, and to save the rights of the Minority, to promote the principles of integrity, credibility and transparency, that support a concrete understanding, that as a public conglomerate, we are the custodians of other people’s investments. That said, they have invested with us to achieve higher returns at an acceptable risk.
Al-Walam Investment LLC is strongly committed towards adopting and applying good corporate governance principles aligned with legal and regulatory requirements, its constituting charter and applicable international best practices. Al-Walam Investment LLC is strongly committed towards adopting and applying good corporate governance principles aligned with legal and regulatory requirements, its constituting charter and applicable international best practices. The Board of Directors of Al-Walam Investment LLC is responsible for the effective management of the company. It has statutory obligations to act in the best interest of Al-Walam Investment LLC and it has fiduciary responsibilities to the shareholders.
The board is committed to ensuring that it can function and oversee, independently of management and is accountable to the shareholders of the company. The board strives to effectively manage the business and affairs of the company and be an early adopter of the best business and governance practices to enhance shareholder value. The Credit Committee in Al-Walam Investment LLC is the consultative body for the management in all credit related issues. Provisions Diligence and Evaluation Committee in the company is responsible of evaluating and studying the investment and finance operations for each client separately to monitor any extraordinary issues related the client’s position.
Clients Complains Unit in Al-Walam Investment LLC is in charge of putting a mechanism that solves or explains the complain of any client, while Al-Walam Investment LLC ’s Internal Audit determines whether acceptable policies and procedures are followed, legislative requirements and established standards are met, resources are used efficiently and economically and planned missions are accomplished effectively.
