SABB’s general assembly approves new audit committee

The first meeting of the ordinary general assembly held by Saudi British Bank (SABB) approved on Tuesday the formation of the audit committee for the upcoming 3-year term, the bank said in a bourse statement.

The committee was formed for the new term starting from Jan. 28, 2020 to Dec. 31, 2022. The meeting also approved the audit committee’s functions, controls and members’ remuneration, the statement added.

The list of the new members includes Martin Edward Powell, Khalid Saleh AlSubayel, and Saad Saleh AlSabti.

Additionally, the ordinary general assembly meeting also ratified the amendments to the selection policies of board of directors, as well as the compensation policy for board of directors, members of committees and executive management.