Banque Saudi Fransi Announces the Appointment of Two Members in Audit Committee

BSFR 1050 1.20% 37.95 0.45

Element List Explanation
Announcement Detail Banque Saudi Fransi announces that it has obtained SAMA’s no objection on 04/05/1440 corresponding to10/01/2019 to appoint two new members of the Audit Committee for the two vacant seats in the Committee:

1- Mr. Mamdouh S. AlMajed

2- Dr. Ghazi A. Al-Rawi

The Bank’s Board of Directors approved by circulation on 04/05/1440 corresponding to 10/01/2019 their appointment as members of the Audit Committee as of 04/05/1440 corresponding to 10/01/2019. The composition of the Committee will be as follows:

1- Mr. Bader A. Al-Issa- Chairman from the Board

2- Dr. Ghazi A. Al-Rawi- a member from the Board

3- Dr. Muhammad A. Ikhwan – a non-Board member

4- Mr. Muhammad O. AlSubaiei- a non-Board member

5- Mr. Mamdouh S. AlMajed- a non-Board member

The Board’s approval is not final. These appointments will be submitted to the first meeting of the General Assembly for ratification.

Dr. Ghazi Al-Rawi- Holds a Ph.D. in Electrical Engineering- Communications, MA in management engineering- Financing & Investment from Stanford University, CA. He has a long experience in management, investment, strategic consultancy and senior management consultancy.

Mr. Mamdouh AlMajed- MBA from University of Leicester- UK, Bachelor of Arts in Accounting from King Saud University, and CPA from SOCPA. He has a long experience in public accounting, audit and financial management.

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