Al Faleh board sees double-digit growth in school, university enrolments

Al Faleh Educational Holding, a venture market listed entity that manages Doha Academy Schools and AFG College, is expecting to improve its bottom-line on a robust double-digit growth in student intake in its school and university.

“We expect the number of students in schools to increase by 12% and the university by 15%, which will reflect positively on the company’s profits," the company said after its board meeting, chaired by Sheikha Dr Aisha Faleh al-Thani.During the meeting, the chairman of the Audit and Risk Committee presented to the board the result of the previous committee meeting.Moreover, the board has approved a number of governance policies and charters in line with its annual review, following the recommendation and endorsement of its respective board committees, in line with the Qatar Financial Market Authority's governance code for companies and legal entities listed on the main market for additional level of transparency to shareholders.The policies including, the corporate governance charter/manual, board charter, dividend policy, audit and risk committee charter, and nomination and remuneration charter, will be made available to the investors and potential investors on the company’s website. The board also approved the organisational structure based on the recommendation of the nomination and remuneration committee, which is aligned with the growth and expansion plans of the company’s operations. Furthermore, the board has approved the company’s policies and procedures, effective August 21, 2022, where the policies are to be assessed and reviewed by the respective head of department on an annual basis. The board was presented with the Internal Control over Financial Reporting (ICOFR) progress and was informed that it is in the final stages of procedures, and the company is scheduled to prepare its report on the internal controls.The chief financial officer has presented to the board the budget for the fiscal year 2022/23, and the financial/operational key inputs that were taken into consideration.