Governance is the set of regulations and rules governing the management and control of Abyaar Real Estate Development Company in accordance with the structure showing the allocation of rights and duties between those involved in the company management such as board of directors, executive management and shareholders.
Abyaar Real Estate Development Company assumes responsibility for setting governance rules to regulate the relation between the shareholders, the board of directors and the executive management to ensure the rights of shareholders and to prevent mismanagement. The governance rules help the company regulate the decision making process and promote the transparency and credibility of such decisions.
Reporting of Violations
In accordance with the corporate governance rules issued by the capital markets authority to report potential fraud and corruption violations that may damage the business environment in Abyaar Real Estate Development Company, the board of directors is keen to stress the necessary preparation of guide of policies and procedures regarding the instructions regulating the procedures and mechanisms of reporting fraud and corruption violations and the existence of an approved procedure to encourage all employees to report all important issues without prejudice to their job positions.
The company intends to ensure the timely reporting of any fraud/ conspiracy acts or violations that my disrepute the company and its financial position to the competent authorities to take appropriate remedial actions and offer an approach for proper handling of the actual concerns which the company employees may have and provide necessary protection for them against revenge and/or aggression and /or retaliation measures and encourage the employees to report any crime or violations in an accountable and ethical manner.