Ma’aden the first Saudi company to attain anti-bribery standard

Ma’aden the first Saudi company to attain anti-bribery standard
Al-Ohali, CEO of Ma’aden, said that the company had set up an independent whistleblower hotline “to ensure complete transparency.” (Supplied)
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Updated 14 December 2020

Ma’aden the first Saudi company to attain anti-bribery standard

Ma’aden the first Saudi company to attain anti-bribery standard
  • Mining company carried out a complete audit and examination of internal processes

DUBAI: The Saudi Arabian Mining Company (Ma’aden) has become the first company in the Kingdom to be awarded an official anti-bribery management certification.

The ISO 37001:2016 Anti-Bribery Management System standard is designed to help global organizations implement more transparent procedures, and Ma’aden attained the certification following the completion of a comprehensive audit and examination of internal processes in its finance, human resources, legal, administrative, government relations, procurement, and its governance, risk, compliance departments.

“We at Ma’aden are committed to running an ethical company that always focuses on concern and respect for our people, the communities we touch and the environments we operate in. By achieving this certification, Ma’aden continues to deliver on its ambition to become a sustainable mining champion and lead by example across its operations,” Mosaed Al-Ohali, CEO of Ma’aden, said in a statement, adding that the company had set up an independent whistleblower hotline “to ensure complete transparency.”


Wafrah approves impeachment of board, audit committee

Wafrah approves impeachment of board, audit committee
Updated 17 January 2021

Wafrah approves impeachment of board, audit committee

Wafrah approves impeachment of board, audit committee
  • The decision came during the company’s ordinary general assembly meeting (OGM) held virtually through the Tadawulaty system on Jan. 14
  • the meeting elected the board of directors for three-year term starting Jan. 14

Wafrah for Industry & Development Co. approved the impeachment of the board of directors and audit committee, as applied for by shareholders in possession of 7.14 percent of the total shares of the company, the firm said in a bourse filing today, Jan. 17.

The decision came during the company’s ordinary general assembly meeting (OGM) held virtually through the Tadawulaty system on Thursday, Jan. 14, 2021.

Additionally, the meeting elected the board of directors for three-year term starting Jan. 14, 2021. The members elected include Ayad Abdulrahman Mohammed Al-Bunyan, Mohammed Abdulrazaq Aboud Al-Baghdadi, Faisal Mohammed Abdulaziz Al-Khudairi, Mohammed Saud Abdalla Al-Samari, Faisal Abdalla Mohammed Al-Qahtani, Mohammed Yagoub Yossif Al-Mukhadab, and Mohammed Hindi Shujaa Al-Otaibi.

In July 2020, Wafrah said it received a letter from shareholders, owning around 7.14 percent of capital, requesting to take regulatory measures with regards to the dismissal of the current board of directors and the appointment of a new one, Argaam reported.

The company had also received a letter from shareholders, owning around 7.14 percent of the company’s capital, requesting dismissal of the current audit committee and its restructuring.