Corporate Governance

The Board of Directors consists of Shareholder Representatives and independent non-executive Directors. The Board’s role is to set the overall strategic direction, approve business plans and monitor the overall performance of the business against the approved plans and within a framework of sound corporate governance.


  • Dr. Juma Bin Ali Al Juma

    Chairman

    Holder of a PhD in Political Sciences, a Master’s Degree in Political Sciences and a Bachelor’s in Economics & Political Sciences. Dr. Juma is currently Chairman of the Board of Directors at Al Maha Petroleum Products Marketing Co. and Chairman of the Board of Trustees of Muscat University. From 2001-2008, he was Minister of Manpower and more recently between 2010 and 2015, Dr. Juma was Chairman of the Board of Directors of Oman Airports Management Company.His previous directorships include Chief of Founding Committee of Muscat University and Chairman of Oman International Bank; he has been a Senior Independent Director and Independent Non-Executive Director of HSBC Bank Oman.

  • Sheikh Nasser Bin Ali Bin Saud Al Thani

    Deputy Chairman

    Sheikh Nasser has vast experience in the Insurance and Banking sectors. He is the Chairman of Qatar General Insurance & Reinsurance Company SAQ, with vast experience in the Insurance and Banking sectors. He sits on the Board of a number of important insurance companies in the Middle East and also on the Board of two leading banks.

  • Frixos Savvides

    Member

    Frixos is a Fellow Member of the Institute of Chartered Accountants in England and Wales (ICAEW) with more than 36 years of experience in a public auditing firm as well as the public sector, including 4 years as Minister of Health in the Cypriot government. He serves as an independent, non-executive Board member on a number of companies including regulated and publicly quoted companies.

  • Stavros Stavrou

    Member

    Stavros is a Chartered Accountant (Institute of Chartered Accountants in England and Wales [ICAEW], a member of the Association of Certified Public Accountants of Cyprus and a member of the Chartered Institute of Internal Auditors UK and Ireland. He has 30 years of experience in progressively senior executive and financial roles. Mr. Stavrou also sits on the Board of a bank, an insurance company and is Chairman of a Shipping Group of Companies.

  • Mark Buisseret

    Member

    Mark is a UK graduate in actuarial science and is currently Group Chief Risk Officer at Trust Re. He started his professional career in SCOR and has more than 20 years of international experience.  Mark joined Trust Re in 2010 and is a member of the Executive Management. His areas of expertise include pricing, reserving, and capital modeling.

  • Vithal Laxman Nerulkar

    Member

    A highly experienced Finance Professional with 35 years’ experience in Oman, Mr. Nerulkar has a proven track record as Head of Finance and Accounts with leading corporate entities in the Sultanate.  He was previously employed by Muscat Insurance Company from January 1999 to August 2000 as Financial Controller and was with Muscat National Holding Company as Chief Financial Officer from August 2000 to December 2007.  Mr. Nerulkar was the Head of Finance and Accounts of Oman International Bank SAOG (now HSBC Oman) from January 2008 until his re-employment with Muscat National Holding Company from December 2012 to December 2015.  Currently, Mr. Nerulkar works as Investment Coordinator for Omar Zawawi Establishment; he also holds Directorships on the Board of SAOG and SAOC Companies in the Sultanate of Oman

  • Pramod Kumar Hiran

    Member

    Pramod Kumar is a qualified Chartered Accountant and Cost Accountant from India and is currently associated with OMZEST Group. In his professional experience spanning more than 20 years, he has worked with Merchant Bankers, Manufacturing Organizations and a leading Telecom Operator in India. He is also on the Board of various SAOG and SAOC Companies in Oman.


The Audit Committee assists the Board in fulfilling its oversight responsibilities for financial reporting, internal control processes and the risk-based internal audit cycles.


  • Stavros Stavrou

    Chairman

    Mark Buisseret

    Member

    Pramod Kumar Hiran

    Member

The purpose of the Risk Committee is to assist the Board in fulfilling its corporate governance oversight responsibilities with regard to the identification, evaluation, and mitigation of strategic, operational and external environment risks. The committee has an overall responsibility for monitoring and approving the risk management framework of the company.


  • Mark Buisseret

    Chairman

    Stavros Stavrou

    Member

    Vithal Laxman Nerulkar

    Member

The Committee's primary functions are to: assess required and necessary competencies of Board members, review Board succession plans, evaluate the Board's performance and make recommendations to the Board on executive remuneration and incentive policies, remuneration packages of senior management, recruitment, retention and termination policies for senior management, incentive schemes, pension arrangements and the remuneration framework for the directors. Lastly, the Committee monitors the overall organizational structure and ensures that executive succession planning is in place.


  • Frixos Savvides

    Chairman

    Sheikh Nasser Bin Ali Bin Saud Al Thani

    Member

    Dr. Juma Bin Ali Al Juma

    Member