ALAFCO views the implementation of a robust framework for Corporate Governance as a source of competitive advantage in today’s global marketplace. As a result, ALAFCO is committed to adopting local requirements as well as international best practices on Corporate Governance and strives to comply with such requirements. The Corporate Governance Framework at ALAFCO is fundamentally based on the rules set out by the Capital Markets Authority (CMA) along with other industry best practices.
The Board of Directors are committed to the ongoing implementation of initiatives to enhance ALAFCO’s Corporate Governance Framework for the benefit of all stakeholders. All of ALAFCO’s operations are subject to an effective governance framework. Through a pro-active and result oriented tone at the top, the board of directors and the executive management at ALAFCO have embedded an organizational culture that is based on effective and transparent governance.
Furthermore, ALAFCO’s governance framework enables the board directors to have in place an organizational structure that enables effective and timely decision making in the most transparent manner. In creating such an organizational structure, the Board is committed to applying accepted governance principles in a practical way.
ALAFCO values the guidance and tools that the Capital Markets Authority (CMA) has prescribed against which its practices and activities are measured in order to evaluate its overall Corporate Governance. Our values require directors and employees to conduct themselves with integrity at all times, display moral strength and behavior that promotes trust.
Good Corporate Governance is contained in our values, culture, processes, functions and organizational structure. Our culture is based on a written Code of Conduct, whereas the organizational structures are designed to formalize the oversight of all businesses and processes. We continue to refine these structures on an ongoing basis.