ACICO Industries has been adopted a Code of Conduct to work with the internal policies and guidelines which are designed to comply with the laws, rules and regulations that would governance the business operations. ACICO Board members practiced good corporate governance rules to ensure the interests, safety and the care of customers, employees and other related parties. ACICO Industries maintain the work environment and the structure of cooperative and effective and positive, appropriate and productive work.
ACICO Industries is committed to protecting the rights of its shareholders a way which is the best for them and for the interest of the company. The Shareholder rights policy emphasizes the protection of shareholders' rights and the company, as provided by the laws and related regulations.
ACICO Industries is committed to protecting the rights of all stakeholders and to provide stability and functional sustainability through good financial performance. The stakeholder’s rights policy has been prepared to identify the parties who have been regarded as a stakeholder in the company has been developing guidelines on how to protect these rights. ACICO Industries has set a unit for specialized for Investors affairs and develop a policy in this regard to identify the key data to be provided to shareholders of the company's current and potential investors and the role of Investors affairs in dealing with these shareholders and investors and provide all the data and information on the company's activities and financial position at the right time.
Capital Markets Authority confirmed by the new corporate governance instructions to provide accurate and comprehensive, detailed and sufficient disclosures within the time frame to the company's shareholders and stakeholders and regulators concerned. ACICO Industries worked on developing disclosures policies and different channels and information for disclosure that require disclosure by the company and its board of directors and executive management or insiders persons.
The company has prepared a conflict of Interest policy and has set the guidelines for identifying and reporting and the preparation of reporting and disclosure and prevention or put strict limits to potential conflicts of interests.
This policy is designed to enable the Stakeholders to report any concerns or erratic behavior is observed within the company by offering reporting line, objective, confidential and independent mechanism to achieve until you take appropriate corrective action.
- Related Parties Transactions
ACICO Industries has developed related parties transactions policy which consistent with the Capital Market Authority rules and procedures which organize the related parties transactions, whether it is between the company and its employees or the company and Board of Directors members and its subsidiaries or interested parties systems.
- Corporate Social Responsibility
The company is keen to align their values and strategy with the social and economic needs while applying responsible and ethical business practices in each activity carried out by the company. This policy aims to guide the company in the managing its social responsibility by providing the necessary support for the community to achieve social benefits and long-term business and make sure that the company's work is constantly to reduce the harmful effects to society and the environment.
The company prepared a policy describing the different segments of the remunerations for the Board of Directors and executive management. In addition to defining the role of the Board of Directors and the Nomination and Remuneration Committee in adopting a system of rewards for the company's employees.
- Compliance & Risk Management Department :
The Risk Management Department is an independent department. ACICO Group leading the risk management to ensure that all risk management activities are carried in an efficient and timely manner in line with the Company’s overall strategy and strategic objectives.
Effective risk management is a key element of good corporate governance, the Risk Management Department is the key factor of ACICO Group to create sustainable value (strategic and tactical) that the Company willing to manage them effectively.
The Risk Management principle is to identify and proactively addressing risks and opportunities to protect and create value for the stakeholders, including owners, employees, customers and external parties such as regulators and rating agencies.
The Compliance Function is a Control Department in ACICO Group. It Promotes and monitor the corporate governance and compliance practices within ACICO Group helping in achieving the required levels of transparency, accountability, and control environment. The Compliance Function promoting to uphold the company’s reputation and protect the interests of its clients, shareholders and employees.
In addition, the Compliance Functions ensure that all employees are aware of various regulatory requirements and that such requirement are included in relevant policies and procedures within the company.
In order to effectively and efficiently for managing the risks, the Compliance & Risk Management Department works in close coordination with the Internal Audit
- Internal Audit Department:
Internal Audit Department is an independent Department, ACICO Group leading the internal audit function to ensure that all internal audit activities are carried in an efficient and timely manner in order to provide an objective and independent assessment for the effectiveness of risk management, control, and governance processes.
The Internal Audit Department objective is the assurance and consulting activity designed to add value and improve the operations of ACICO Group. The Internal Audit Department helps in accomplish the objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. The Internal Audit Department in ACICO Group assist the Board of Directors and the Executive management in arriving at decisions for managing risks effectively.