Corporate Governance

RIBL’s approach to corporate governance is guided by the following core principles:

1. Ethical Culture
Trust, integrity and good governance are hallmarks of the Board’s governance approach. By setting the tone at the top, the Board champions the values of trust, integrity and good governance that are well entrenched in the culture of RIBL and reinforces the ethical principles on which RIBL’s reputation and success are founded. To maximise shareholder value on a sustainable basis, these values must extend into every segment of RIBL’s operations and business activities.

2. Stewardship
The members of the Board are the stewards of RIBL, exercising judgment in overseeing management and safeguarding the interests of shareholders and other stakeholders. In fulfilling its stewardship role, the Board seeks to instill and foster a corporate environment founded on integrity and to provide management with sound guidance in pursuit of long-term shareholder value.

3. Strategic Oversight
The members of the Board are the key advisors to management, advising on strategic direction, objectives, and action plans, considering both the opportunities and RIBL’s risk appetite. In carrying out this oversight role, the Board along with the Shareholders actively engages in setting the long-term strategic goals for the organisation, reviews and approves business strategies, corporate financial objectives and business plans that are consistent with the strategic goals and monitors RIBL’s performance in executing strategies and meeting objectives.

4. Risk Oversight
The Board oversees the frameworks, policies, and systems to identify and manage risks to the business and seeks to embed a strong risk management culture throughout RIBL. The Board actively sets and monitors RIBL’s risk profile relative to risk appetite and seeks to ensure that management’s plans and activities provide an appropriate balance of return for the risks assumed and are prudent.

5. Accountability
Transparency is a key component of good governance. The Board is committed to clear and comprehensive financial reporting and disclosure, and constructive shareholder and regulatory engagement. The Board has carefully defined the expectations and scope of duties of the Board and management.

6. Continuous Improvement
The Board is committed to continuous improvement of its corporate governance principles, policies, and practices, which are designed to align the interests of the Board and management with those of the DFSA and the shareholders, to support the stewardship role of the Board, and to enhance the Board’s ability to safeguard the interests of shareholders and other stakeholders through supervision of management.
To ensure policies and practices meet or exceed evolving best practices and regulatory expectations, RIBL’s corporate governance system is subject to ongoing review by the Board.