Allied Cooperative Insurance Group announce on the establishment of an Audit Committee
| Element List | Explanation |
|---|---|
| Introduction | Allied Cooperative Insurance Group announces the appointment of the Chairman and members of the Audit Committee for the new term of the Board of Directors, which began on 26/06/2025 and will end on 17/05/2029, as follows: Mr. Abdullah bin Abdulrahman Al-Sheikh - Chairman - (from outside the board) Engineer Abdulatif bin Saud Al-Mandeel - Member - (independent member) Mr. Bassam bin Mohammed Al-Buqai - Member - (from outside the board) Mr. Ibrahim bin Ahmed Al-Azeq - Member - (from outside the board)
following the receipt of the no-objection letter from the Insurance Authority dated 05-02-1447 AH corresponding to 30-07-2025 AD. |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Abdullah bin Abdulrahman Al Sheikh - as President - (from outside the Board) |
| Membership Start Date | 2025-07-31 Corresponding to 1447-02-06 |
| Brief Resume of the Appointed Member | Mr. Abdullah bin Abdulrahman Al-Sheikh holds a Bachelor's degree in Accounting from King Saud University and a Master's degree in Accounting and Management from the University of Aberdeen. He has held the following positions: He is currently a board member and the chairman of the audit committee for several listed companies. Previously, he worked as the General Manager of Finance at the Al-Rajhi Endowment, the General Manager of Finance at the Saudi Group for Medical Care, the General Manager of Finance at the King Faisal Specialist Hospital and Research Center, and the Director of Internal Audit at the Saudi Stock Market (Tadawul). |
| The date of the approval by other official authorities | 2025-07-30 |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Engineer / Abdul Latif bin Saud Al-Mandeel - Member - (Independent Member) |
| Membership Start Date | 2025-07-31 Corresponding to 1447-02-06 |
| Brief Resume of the Appointed Member | Eng. Abdul Latif bin Saud Al-Mandeel holds a Bachelor's degree in Civil Engineering from King Fahd University of Petroleum and Minerals and has held the following positions: Civil Engineer at Saudi Consulting Services, Account Relations Manager in the Corporate Credit Department at the Saudi American Bank, Account Relations Management Director in the Corporate Division at the United Saudi Bank, Head of Account Relations Department in the Corporate Credit Division for Large Corporates in the Central Region at Samba Financial Group, and Financial Advisor at Rawafed Group. |
| The date of the approval by other official authorities | 2025-07-30 |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Bassam bin Mohammed Al-Buqai - a member - (from outside the Board) |
| Membership Start Date | 2025-07-31 Corresponding to 1447-02-06 |
| Brief Resume of the Appointed Member | Mr. Bassam bin Mohammed Al-Baqaawi holds a Bachelor's degree in Accounting from Qassim University, a Master's degree in Accounting from the University of Arkansas, a Bachelor's degree in Law from the Arab East Colleges, a fellowship of the American Institute of Certified Public Accountants, a fellowship of the Saudi Organization for Certified Public Accountants, a bankruptcy trustee license from the Bankruptcy Committee, and a consultant license in Zakat and tax. He has held the following positions: He currently serves as the partner and manager of Bassam Mohammed Al-Baqaawi and Partners for Professional Consulting (BMP & Company). He has previously worked as the CEO of Al-Istithmar Company, Deputy General Manager and Secretary of the Board at Asir Company, Investment Manager at Gulf International Bank, an auditor at Al-Fawzan and Banga Certified Accountants, a Senior Audit Assistant at PricewaterhouseCoopers, and a faculty member at the Institute of Public Administration. |
| The date of the approval by other official authorities | 2025-07-30 |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Ibrahim bin Ahmad Al-Aziq - Member - (from outside the Board) |
| Membership Start Date | 2025-07-31 Corresponding to 1447-02-06 |
| Brief Resume of the Appointed Member | Mr. Ibrahim bin Ahmed Al-Azq holds a master's degree in accounting sciences from King Saud University and is a fellow of the Saudi Organization for Certified Public Accountants. He has held the following positions: currently, he is the executive partner at Ibrahim Al-Azq and Huda Al-Zailai Certified Accountants and Auditors. Previously, he served as a financial auditor at the General Audit Bureau, revenue manager at Etihad Etisalat Mobily, and financial manager at the Authority of Industrial Cities and Technology Zones. He has also provided several consultations for various government agencies and companies. |
| The date of the approval by other official authorities | 2025-07-30 |
| Element List | Explanation |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2025-07-31 Corresponding to 1447-0 |
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