BSF operates under its Corporate Governance Regulations which were approved by BOD and under SAMA rules and directives. BSF continues to comply with CMA’s Governance Regulations. BSF directors and members of the senior management participated in specialized seminars to learn about their responsibilities towards the Bank. In addition, the directors are always updated by the chairman regarding matters received from the competent authorities.
BSF complied with clauses under Governance which are consistent with the Bank’s articles of association in addition to the obligatory clauses referred under CMA decision No. 1-36-2008 dd 12.11.1429 (10.11.2008) and Decision No. 1-10-1010 dd 30.3.1431 (16.3.2010).
In conclusion, the Board of Directors wishes to express deepest gratitude, first and foremost, to the Almighty Allah and then to King Abdullah Ben Abdulaziz and his Crown Prince and Second Deputy Premier for their continuous support of banking sector. The Board would like also to thank the Ministry of Finance and to the Saudi Arabian Monetary Agency, the Ministry of Commerce and Industry as well as the Bank customers, staff, committees’ members, and correspondents, praying Almighty Allah for continued security and prosperity.