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    OMAN UNITED INSURANCE

     Board Resolutions

    Apr 01, 2018 08:25 AM

    Dear honorable shareholders and investors community.

    We would like to announce that the Board of Oman United Insurance Company held a meeting on, Thursday evening 29th  March 2018, and hereinafter the most important Board decisions:

     

    First: Sayyid Salim Bin Nassir Al Busaidi has been elected as the Chairman

    Second: Mr. Saud Bin Ahmed Al Nahari has been elected as the deputy Chairman

     

    Third: The board formed the subcommittees emanating from the boar as following:

    1-       Composition of Nomination & Remuneration Committee

    No.

    Director’s Name

    Position in the board

    Position in the Committee

    1.

    Sayyid Salim Bin Nassir Al Busaidi

    Chairman

    Chairman

    2.

    Mr. Saud Bin Ahmed Al-Nahari

    Dy.  Chairman

    Member

    3.

    Mr. Rahul Kar

    Director

    Member

    4.

    Mr. Mohamed Bin Noor Al Zadjali

    Director

    Member

    Composition of Audit Committee

    No.

    Director’s  Name

    Position in the board

    Position in the Committee

    1.

    Mr. Nassir bin Khamis Al Hashar

    Director

    Chairman

    2.

    Sayyid Khalid Bin Mahfoudh Al Busaidi

    Director

    Member

    3.

    Mr. Mustafa Bin Ahmed Salman

    Director

    Member

    4.

    Sayyid  Salim Bin Ahmed Al Busaidi

    Director

    Member

     

    Fourth: In pursuance of the second principle of the Code of Corporate Governance, item (3), paragraph (A), requires all members of the Board to be non-executive members, therefore Sayyid. Nasser Bin Salem Al Busaidi existed from the Board of  Directors and accordingly his designation has been changed from to “Chief Management Executive” with effect from the next day of AGM.

    Fifth: Recruitment of some executive managers:

    1. The Board resolved to assign  both of Sayyid Salim Bin Nassir Al Busaidi – the Chairman   and  Sayyid Nassir bin Salim Al Busaidi The Chief Management Executive as the Spokes Persons of the company

    2. The Board resolved to renew the assignment of Mr. Maher Mohammed Amin as the Disclosure Officer.

    3. The Board resolved to renew the assignment of Sayyid Mohamed Bin Qahatan Al Busaidi as the Company Secretary.

    4. The Board resolved to renew the  assignment of   Mr. Wesam Yousef Obaid as compliance Officer

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