ROYAL is committed to embedding a progressive, strong and capable corporate governance culture. The Board of Directors has extensive experience in finance, auditing and regulatory compliance. Each member was selected based on their strong track record in their respective field of expertise to ensure effective oversight of the company as well as provide a strong foundation for strategic expansion.
The board is engaged in identifying and mitigating risks, and ensuring progressive strategies are in place that are adaptive to changing market conditions and the regulatory environment. Extensive internal controls and auditing is carried out to identify any potential risk and ensure no conflict of interest within the management and company.
Through effective and proactive regulatory compliance, the company is protected from any risk that could stem from non-compliance with anti-money laundering (AML) and countering the financing of terrorism (CFT) rules. Royal Financials is in total compliance with the circulars of Banque du Liban (Central Bank of Lebanon), the Capital Markets Authority (CMA), and the Lebanese Commercial Law.
With Royal Financials operating at a global level, the company complies with international laws and regulations. Royal Financials is also committed to transparency and disclosure in its operations.
By adopting best-in-class protection, Royal Financials is safeguarding the interests of the company, shareholders and stakeholders.
The Board of Directors has designated several committees which helps deal with complex or specialized issues by allowing better organizational structure and providing flexibility to board and non-board members to be more efficient in accomplishing important tasks and duties.
The committees are:
To assist the board of directors in fulfilling its oversight responsibilities for the financial reporting process, the system of internal control, the audit process, and the company's process for monitoring compliance with laws and regulations and within the code of conduct.
The risk committee is established by and among the board to properly align with management as it embarks a risk management program. The primary responsibility of the risk committee is to oversee and approve the company-wide risk management practices.
The AML committee supports the Board of Directors in its functions when it comes to fighting money laundering and terrorist financing. Also, the committee reviews reports submitted by compliance and internal audit on procedures, risky activities, deposits and withdrawals and any unusual activities before making relevant decisions.
The purpose of the ALCO committee is to oversee the asset/liability position, liquidity and funds management as well as investment functions of the company, when applicable.
The main purpose of the MIS committee is to ensure a safe IT environment when dealing with internal and external technological risks.
The investment committee is responsible for developing and monitoring the company’s investment strategy and plan as well as the overall performance of said investments.