The board of directors may, for the sake of management of the affairs of the company take the necessary actions for achievement of its objectives and particularly the following: 1. approve the commercial and financial policies and the estimated budget of the company for achieving its objectives, to safeguard the rights of its shareholders, and to develop the company. 2. lay down the necessary plans for achievement of the company’s objectives and carrying out of its activities in accordance with the purpose of its establishment and supervision and updating of such plans from time to time. 3. carry out the company’s disclosure procedures and follow the application thereof in accordance with the rules and conditions of disclosure issued by the Concerned Body. 4. supervise the performance of the executive management and ensure the good performance of the business in a manner that achieves the objectives of the company in accordance with the purpose of its establishment. 5. approve the financial statements related to the activities of the company and the results of its business, presented thereto by the executive management, which reveal the actual financial status of the company.
This site currently publishes a verified part of the instrument; the remaining provisions continue to exist and apply independently of their absence from this corpus. Interpretation and application must be checked against the official Arabic text and the current version.