Al Rajhi Takaful Calls for Board of Directors Candidature

Al-Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) has officially opened the candidacy for membership on the company’s board of directors for the upcoming session, spanning three years from May 30, 2024, to May 29, 2027.

Prospective candidates who meet the necessary conditions and qualifications for board membership, as outlined in the attached policy on candidacy criteria, are invited to express their interest through written notification. This notification should adhere to the specified periods and durations as per the prevailing laws, regulations, circulars, and decisions. The nomination period commences on March 17, 2024, and concludes on April 16, 2024.

Outlined below are the policies and criteria for nomination:

1. A signed written notification from the candidate expressing their desire to run for membership on the Board of Directors.

2. A comprehensive biography detailing the candidate’s CV, qualifications, and experience within the company’s business field, if applicable.

3. A disclosure of joint-stock companies where the candidate currently holds a board membership, if any.

4. Identification of any companies or institutions the candidate directly or indirectly manages or owns, which operate businesses similar to those of the Company.

5. Disclosure of any familial or other relationships with major shareholders of the company or its external auditors.

6. A declaration of existing contracts, deals with the company, or any direct or indirect interests.

7. Submission of the candidate’s ID, family ID, and contact information.

8. Completion of the Fit & Proper e-form issued by the Insurance Authority of Saudi Arabia, to be attached to the nomination application. The form is accessible on the Insurance Authority website.

9. Completion of Disclosure Form No. 3 issued by Tadawul, available on the Tadawul website.

10. Filling out Independency Forms (in accordance with IA and CMA definitions) and including them with the Nomination Application (attached).

11. Any other additional documents requested by regulatory authorities or the company.

Candidates who have previously served as board members in joint-stock or insurance companies must provide a statement detailing:

• The number and dates of board meetings attended during each year of their membership.

• The number of meetings attended on their behalf and their attendance percentage.

• Details of any permanent committees in which they participated.

• The number and dates of meetings held by these committees during their membership.

• The number of meetings attended on their behalf and the attendance percentage.

This comprehensive application process aims to ensure transparency and suitability for those seeking to contribute to the board’s governance and strategic direction at Al Rajhi Takaful