|1. Submitting of the request to the Companys management, in English, including the nominees resume, qualifications and experience along with the supporting documents. |
2. It is a requirement for any nominee that has held the position of Board Member in any joint stock company to provide the following information:
A. The number of Board of Directors meetings that took place during all of the years of the term and the number of meetings that the nominee member attended and the percentage of attendance.
B. The Board Committees that the nominee participated in as a formal Committee member, and the number of meetings held for each of these committees during each year of the term.
C. A brief about the financial results that the company achieved during the nominees Board term.
3. A list of all the joint stock companies that the nominee is still a Board Member of.
4. A list of the companies or establishments that the nominee manages or owns, and wherever the nominee is engaged in business which related to the Companys business.
5. Completing in English the Fit and Proper form issued by the Saudi Arabian Monetary Authority, including the submission of the required supporting certificates and other documents, and which form can be found on SAMAs website: http://www.sama.gov.sa/ar-sa/Insurance/Pages/Forms.aspx
6. Completing form (3) as issued by the Capital Market Authority, and which can be found on the CMAs website: http://www.cma.org.sa/Ar/FormsSite/Pages/Disclosure.aspx
7. The nominee shall not be a member of the Board of Directors of any other insurance and/or reinsurance Company.
8. The nominee shall not hold membership in more than five Boards of publicly listed companies at one time.
9. It is not allowed, except after written approval from SAMA, for a person who has held a similar position in a liquidated Company or was dismissed to nominate himself.
10. To be attached with the nominees application, a clear copy of the nominees Passport and/or National ID for individuals, the Commercial Registration for companies and establishments, and the phone numbers of the nominee(s).