The Board of Directors bears full responsibility for CINET, including setting its strategic objectives and governance standards, as well as the responsibility for implementing them and supervising the integrity of their application, in addition to the responsibility for supervising the Executive Management, including the CEO. The BOD bears all responsibilities related to the Company’s operations and financial soundness, ensuring that CBK’s requirements are met, preserving the interests of shareholders, employees and other stakeholders and confirming that the Company’s management is carried out prudently and within the framework of the applicable laws and instructions and the Company’s internal policies.

CINET’s Board of Directors consists of seven members elected by the General Assembly. Pursuant to the Ordinary General Assembly meeting held on 12 August 2021, the Board of Directors was elected from the shareholder members with the approval of the General Assembly and the relevant authorities, in accordance with CBK’s Resolution No. (90-B/439/2019) regarding Experts Rules and Regulations as provided for in Article (9) of Law No. (09) of 2019 Regulating the Exchange of Credit Information, in terms of CINET Board membership candidates. On behalf of the Board of Directors, the Nominations and Remuneration Committee, emanating therefrom, examined the papers of the candidates elected for the BOD membership for the new session (2020 - 2023). It was confirmed that all candidates fulfilled the requirements stipulated in the aforementioned CBK’s resolution

In the context of the importance of this role, the Chairman of the Board of Directors works to ensure smooth conduct of the BOD’s work, maintain mutual trust among members and ensure that the BOD makes decisions based on sound foundations and thorough information. He also seeks to exchange viewpoints within the BOD and ensure that sufficient information reaches each of the Board members and shareholders in a timely manner. He also undertakes a major role in maintaining a constructive relationship between the BOD and Executive Management, ensuring that sound governance standards are provided by the Company.

CINET features an obvious cooperation and a clear definition of powers between the Board of Directors and Executive Management therein, which is one of its key pillars of governance, where the BOD guides and leads, while the Executive Management is responsible for preparing and implementing the strategies and policies approved by the BOD, emphasizing the independence of the BOD and its members from the Executive Management. The BOD ensures that Executive Management activates policies related to granting or limiting activities and relationships that may impact the quality of the Company’s governance rules, such as conflicts of interest and bonus policies

As part of the current session, which began in accordance with Board of Directors Resolution No. 07 (2020- 2021), dated 12/08/2021, the Board of Directors held fourteen (14) meetings during 2023, as meetings are called whenever the need arises. The number of meetings held exceeds the supervisory requirements and those related to corporate governance, where the least of six (6) meetings shall be held during the year, with at least one meeting per quarter. The decisions passed within the meetings were mandatory and became part of the Company’s records.

The duties and responsibilities of the Board of Directors include the following, for example: Approving the Company’s significant objectives, strategies, plans and policies

The Board of Directors has fulfilled its duties and responsibilities in accordance with the instructions of the regulatory authorities within one year, the most significant of which include the following, for example: