Amlak Announces Resignation of Audit Committee Member, Appoints Two from outside Board

Amlak International For Real Estate finance Company announced on Monday the Resignation of one member and Appointment of two Audit Committee Members (Non Board members) Mr. Ali Al-Ayed and Mr Alkhraijy, in line with the main principles of governance issued by Saudi Central Bank, which stipulate that most members of the Audit Committee are from outside the Board.

The company added that Mr. Ali Al-Ayed holds a bachelor’s degree in accounting and has more than 30 years of experience in the financial sector. He also holds several board memberships and audit committees in several listed companies.

It also added that Mr Alkhraijy is a Saudi banker with more than 30 years’ experience, having held various senior positions with the NCB Group where he was latterly head of Shari’ah Group.

Board approval may not be deemed final; this appointment shall be put before the first general assembly meeting for approval.