Rule 9: Brief On The Mechanisms Of Protecting The Stakeholders’ Rights

10. Brief On The Mechanisms Of Protecting The Stakeholders’ Rights

The Group believes that stakeholders’ contribution is a valuable resource to enhance its competitive ability and reinforce its profitability levels. For this reason, it supports all means of cooperation with stakeholders, therefore the Group has issued a policy that ensures and recognizes stakeholders’ rights as well as it encourages them to keep track of the Group’s various activities.

10.1 Brief On The Stakeholders’ Rights Protection And Recognition Policies

The Group has established a set of policies that contains regulations and procedures that ensure and recognize stakeholders’ rights, they also enables them to receive compensation in case of any violation of their rights occurs. The policy is approved by the Board in accordance with the issued bylaws in this regard. The Group reviews these policies regularly to ensure it is in alignment with the requirements of regulatory authorities and updates these policies if necessary. These policies consider but are not limited to the following:

• Compensation mechanisms in case of breaches that compromise the rights of any parties.
• Mechanisms for complaints or dispute settlement, which may arise between the stakeholders and the Group.
• A clear settlement mechanism for all types of purchasing and tendering.

10.2 Brief On How To Encourage The Stakeholders To Participate In Keeping Track Of The Group’s Various Activities

The Group has mechanisms and frameworks that aim to obtain the maximum benefits of stakeholder contributions, as well as encourage them to keep track of Group activities, in a manner that is consistent with achieving their best interests.

One of these mechanisms is the whistleblower policy, which facilitates the stakeholders to inform the Board of Directors of any unfairness committed by the Group against them while providing proper protection to the whistleblowers.