This website uses first and third party cookies (and equivalent technologies) to improve your experience on our site. Necessary cookies ensure that this site functions properly. We also use cookies to analyze how our site performs, understand your preferences and deliver tailored commercial content on this and other sites. For more information about which cookies we use, the information collected and SABIC’s purposes, please see our Cookie Notice. By clicking ‘Accept Cookies’ you agree to the use of such cookies. Alternatively you can manage which cookies are placed on your device by selecting Manage Cookies

Home > Reports > Annual Report 2022 > Governance > Declarations Based on Corporate Governance Regulations


The Board of Directors acknowledges that:

– The accounting records were properly prepared;

– The internal control system was founded on a sound basis and implemented effectively; and

– There are no doubts about the company's ability to continue as a going concern.


– The company has not concluded any transactions or contracts of substantial interest to a member of the Board of Directors, or the Senior Executives, or any person related to any of them.

– There is no competing business with the Company or any of its activities that any member of the Board is engaging in or was engaging in such competing businesses.

– The company complies with CMA's regulations in all aspects except in respect of the following:

Article /Clause no.
  • Provision of Article/Clause
  • Reason
Provision of Article/Clause Reason
Article 92: Formation of a Corporate Governance Committee If the Board forms a corporate governance committee, it shall assign to it the competences stipulated in Article (91) of these Regulations. Such committee shall oversee any matters relating to the implementation of governance and shall provide the Board with its reports and recommendations, at least once annually. Based on Article (47) of the Corporate Governance Regulations, which stipulates that the Board of Directors shall form specialized committees, based on the need and circumstances of the company, in a manner that enables it to perform effectively, the Board of Directors does not see a need to form a specialized committee on “corporate governance”. When the Board and all its existing committees, carry out their duties and achieve their objectives, they do inherently realize the corporate governance function and objectives.

Compare up to 4 grades

You already have 4 products for comparison

Compare items