Tharwa Investment Company has adopted clear policies, practices, rules, and processes that reflect ‘corporate governance’, to establish a structure that is differentiated by transparency, which helps Tharwa achieving the following:
Corporate governance policies, practices, rules, and processes at Tharwa are created to ensure that the right corporate culture and best practices are in place, especially when it comes to the below aspects:
The corporate governance manual stresses on the necessity of providing truthful and accurate data regarding all financial matters related to the company, through appropriate internal and external communication, including the statement of financial position, performance, ownership, and topics related to control.
Such level of transparency helps building trust and confidence internally and externally and formulates a clear division of responsibilities between the authorities.
This is a significant policy which ensures that the decisions taken are based on sound foundations without any kind of bias. The policy aims to reduce any conflicts that could cause a significant risk or harm to the interests of our customers or stakeholders.
The company also provides stakeholders with access to any data that is related to their activities to retrieve whenever needed and to inform the board of any inappropriate practices they are exposed to.
The company’s board follows the highest standards of integrity while applying processes that reflect equality and justice among all shareholders regardless of their contribution rates or quotas and this is a fundamental part of the concept of corporate governance.
This principle recognizes that shareholders have the right to retain their shares in the company or convert them and protect their rights and interests as per the laws adopted in the State of Kuwait, mainly the right to complain and/or appeal to any violation that causes them any sort of harm, select board members, receive the right returns on profits, review the financial statements, and to actively participate in the general assembly meetings.
The Board of Directors and Executive Management are keen on achieving the balance between shareholders and stakeholders’ rights, while protecting the company and its assets, to fulfil this goal the company has undertaken the below:
• Continuously educate Executive Management and employees of their roles and responsibilities.
• Evaluate work through a set of standards and performance indicators
• Shed light on goals that have been achieved.
• Issue an annual report by the board to highlight the company’s accomplishments and performance in general.
The company and its board of directors and executive management have adopted social goals that are integrated with the local and regional economic goals, as a continuous commitment by the company to act ethically in accordance with the requirements of laws and customs to ensure sustainable contribution to achieving economic, social and environmental development. Where the company directed its efforts to contribute to the development of society and support its current needs without neglecting the needs of future generations, so it sought to focus on sustainable community contributions that serve the current need and continue to serve successive generations.
And since the company operates within the financial and banking sector and constitutes one of the pillars of the national economy, it has taken upon itself a continuous commitment to the development and development of the economy through the development of an effective and sustainable social responsibility program based on interest and commitment to ethical behaviors in its strategy, operations and organizational culture represented by the safety, integrity and transparency of its operations . The company considers that its active and vital support towards the society that contains it and its investments is one of its most important duties, so it contributes with all its capabilities and capabilities in line with the nature of its work to achieve sustainable development and help achieve societal stability in general.
Corporate governance is represented by a set of relationships that link the company’s management, the board of directors, shareholders, and stakeholders. Tharwa Investment Company has approved clear and comprehensive policies to establish the necessary foundations for a transparent governance system and ensure that the rights and obligations of its shareholders and stakeholders are appropriately defined.
The company follows a clear policy that defines its ethical standards, this helps staff to perform using best practices and act in a way that reflects positively on the company’s image and reputation.
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