As a strong believer in the importance of a hands-on approach to corporate governance, Arafa Holding has taken significant steps to bring its practices into conformity with global standards at all levels in its administrative and operational chains.
In keeping with international best practices in the area of corporate governance, Arafa Holding’s code of business ethics provides comprehensive guidelines for all of its subsidiaries aiming to foster a culture of honesty and transparency. These guidelines include fair dealing, consistent and accurate reporting, proper use of company assets and the reduction of various conflicts of interest.
It is the responsibility of our Audit Committee to ensure that the aforementioned guidelines are met. The Committee conducts systematic, routine and regular checks focusing on all internal administrative memorandums, policy enforcement reviews, and enforcement of internal auditing systems. Furthermore the Audit Committee is tasked with investigating the fiduciary position of the company by auditing all of its financial statements and accounts and providing analysis for the position of the company.