Bank Albilad shareholders approve board remuneration policy

Bank Albilad’s ordinary general assembly on Jan. 9 approved the remuneration policy for board members, committees and senior executives, the lender said in a bourse statement.

Shareholders also approved the updated charter for the audit committee and the nominations and remunerations committee, as well as the rules and criteria governing the appointment of board and committee members.

In addition, the general assembly approved board member Fahad bin Abdullah Al-Qasem’s engagement in competitive activities.

Al-Qasem serves as a board member at Saudi Post Co., which owns a 50 percent stake in Ersal Money Transfer. Ersal is a competitor of Enjaz Banking Services, the remittance arm of Bank Albilad.