Constitution of the Board of Directors
- The Board of Directors of Ci-Net consists of seven members elected by the general assembly. At the ordinary general assembly held on 12 August 2021, the Board of Directors consisting of shareholding members was elected and the election was approved by the general assembly and the competent authorities.
- Pursuant to the Central Bank of Kuwait resolution No. 90-b/439/2019 concerning the rules and controls required under Article 9 of Law No. 9 of 2019 that regulates the exchange of credit information related to the experience of candidates for membership of the Ci-Net Board of Directors, the Board Nominations and Remunerations Committee studied the documents of the candidates for elected membership on their behalf for the new term 2020/2023. The Committee verified that all candidates satisfied the requirements contained in the Central Bank of Kuwait resolution referred to in the preceding item.
- The Ci-Net Board members possess professional experience and educational qualifications reflecting their work in the banking and financial structure as well as the business and financing sector. The Board members possess a wide experience and knowledge in the fields of information technology, risk management, cyber security, governance, finance, strategy, control and audit (both internal and external), in addition to their diverse experience in the business environment relevant to Ci-Net’s activities and objects conducted by the Company according to the provisions of Law No. 9 of 2019 that regulates the exchange of credit information and its Executive Regulations as well as the instructions of the Central Bank of Kuwait and the provisions of its memorandum and articles of association.
The balanced structure of the Ci-Net Board of Directors continuously contributes to developing work mechanisms in light of the guidelines of the Central Bank of Kuwait that seek to enhance the credit work system in the State of Kuwait and develop Ci-Net’s work model with a view to transform the company into a center for center for credit information that is integrated, sophisticated, capable of generating a real added value to the business sectors in the State of Kuwait including the semi-government business sectors, through a process of on-going innovation, the application of the best global practices used in providing credit reporting and credit classification services, using state-of-the-art technologies in order to maximize data and information quality levels that reflect the output of data and information found in the customer credit reports and generated by Ci-Net’s system in line with customers’ expectations, requirements and needs.