The purpose of the Governance Committee of First Takaful Insurance Company is to do the following :
Following up on the implementation and compliance of the First Takaful Insurance Company in the 15th of the Executive Regulations of the Capital Market Authority of the State of Kuwait, and applying the best and latest applicable practices to achieve good corporate governance.
- The Governance Committee should comprise of minimum three members (3).
- The Chairman of the Board shall be the Chairman of the Committee.
- The CEO shall be a member in the Committee.
- Also, there should be a Secretary of the committee.
Responsibilities of the Governance Committee
- Following up the company's implementation and compliance with corporate governance.
- Review the developments related to Book 15 of the Executive Regulations of the Capital Market Authority - State of Kuwait Corporate Governance.
- Submit recommendations to the Board of Directors in all matters related to corporate governance.
- Adoption of the semi-annual corporate governance report submitted to the Capital Markets Authority through the E-portal.
- Prepare a detailed annual report on the application of corporate governance in Takaful Insurance Company, to be mentioned in the General Assembly Ban and attached to the annual report of the company.
- Any other responsibilities determined by the Governance Committee or the Board of Directors of the Company from time to time.