Arabian Shield Cooperative Insurance Co. Announces Appointment of three of a Board Members
| Element List | Explanation |
|---|---|
| Introduction | Arabian Shield Cooperative Insurance Company announces the issuance of its Board of Directors' resolution by circulation on 07/03 /2024 regarding the appointing
1- Mr. Adel Abalkheel 2- Mr.. Rasheed Alrasheed 3- Mr. Meshal Alrabea Members of the Board of Directors to fill the vacant positions in the Board as of its date and until the end of the current session. provided that this appointment is presented to the Ordinary General Assembly for approval at its first meeting. conditional on the Insurance Authority’s non-objection. |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Adel Abalkheel |
| Membership Type | Non- Executive |
| Membership Start Date | 2024-03-10 Corresponding to 1445-08-29 |
| Brief Resume of the Appointed Member | Mr. Adel is a Certified Public Accountant (CPA) professional with 20 years of experience in Banking and Insurance Industries with expertise in Feasibilities Studies, Business Planning, Financial Analysis, Accounting Standards, Financial Reporting, Management Reporting, Budgeting and Supervision. Mr. Adel holds
Master of Science in Finance from University of Illinois, Urbana-Champaign, USA in 2006, Master of Science in Accountancy from University of Illinois, Urbana-Champaign, USA in 2005, and bachelor's degree in accountancy from King Saud University, KSA in 2002 |
| The date of the approval by other official authorities | 10/03/2024 |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Rasheed Alrasheed |
| Membership Type | Independent |
| Membership Start Date | 2024-03-10 Corresponding to 1445-08-29 |
| Brief Resume of the Appointed Member | Mr. Rasheed is the founder and chairman of ISACA - KSA Chapter, a board member of ISACA, KSA from 1997 to 2000, and a board member of ISACA Asia from 1999 to 2002. Mr. Rasheed holds memberships in the Saudi Organization for Certified Public Accountants (SOCBA), the Saudi Economic Council, and the GCC Family Business Council. Also, he has Higher Diploma in Management Information Technology Systems from King Saud University |
| The date of the approval by other official authorities | 10/03/2024 |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Meshal Alrabea |
| Membership Type | Non- Executive |
| Membership Start Date | 2024-03-10 Corresponding to 1445-08-29 |
| Brief Resume of the Appointed Member | Mr. Meshal has been appointed as a Chief Risk Officer in late 2021. He oversees various risk management areas, including IFRS-9, Credit Risk, Market Risk, Operational Risk, Business Continuity Management, Cybersecurity, and Counter-Fraud.
Mr. Meshaal holds a bachelor's degree in computer science and a master's degree in information management from Leeds Metropolitan University. |
| The date of the approval by other official authorities | 10/03/2024 |
| Element List | Explanation |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2024-03-07 Corresponding to 1445-08-26 |
| Board Approval | Board Approval May not be Deemed Final, this Appointment Shall Be Put before the First General Assembly Meeting for Approval |
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