Ooredoo on Tuesday announced the issuance of two new resolutions, updating the company's governance framework, and revising the Board Charter, aiming to elevate standards of transparency, accountability, and compliance with global best practices in corporate governance.
In a statement, Ooredoo emphasised that this updated governance framework is aligned with Qatar Financial Markets Authority (QFMA) directives and a comprehensive set of local and international regulations designed to ensure sound governance practices across the company, reflecting its commitments to stakeholders.
Group CEO of Ooredoo, Aziz Aluthman Fakhroo, stated that the issuance of the updated governance framework and Board Charter reflects Ooredoo's steadfast commitment to adopting the highest standards of transparency and global governance practices. This initiative ensures their dedication to balancing shareholder rights protection, enhancing integrity, and activating the Boards role.
He added, that their adhering to the QFMA's governance decisions provides a robust legal framework that strengthens our credibility with shareholders and stakeholders alike.
As part of this update, Environmental, Social, and Corporate Governance (ESG) component was added to responsibilities of one of the Board's committees. Commenting on this, Hilal bin Mohammed al-Khulaifi, Group Chief Legal, Regulatory, and Corporate Governance Officer, emphasised that this updated governance framework is a key milestone in strengthening transparency, accountability, and risk management across Ooredoo, aligning us with the highest international standards. By incorporating ESG into Board committee mandates, they are reinforcing their commitment to sound governance and sustainable practices, ensuring we remain competitive and well-positioned for future growth.
This decision aims to develop Ooredoo's governance structure by incorporating clear and transparent procedures for delegating authorities and responsibilities, while enhancing oversight and accountability.
